Micro Credit
I've been working for the last few weeks, and will be for the coming months, for a little organisation called 'Anti Poverty Initiative' (API) which provides micro credit for woman in Dakar. It was started by an American ex Methodist missionary who has been living in Dakar for many years. They needed help with setting up a new computer accounting system and various other tasks and so I am getting some good experience in the field of micro credit. Micro credit is simply loaning small amounts of money to people with no security, effectively filling the gap below which normal banks and financial institutions operate. It came to major prominence recently when Muhammad Yunus, who funded the Grameen Bank in Bangadish, was awarded the 2006 Nobel Peace Prize. The loan money enables women, who are more trustworthy with repayment and usually provide benefits for the whole family, to start and run small businesses. API has a model which sets up groups of 25 women together and gives th...