Innovations in Microfinance: Africa

November 1, 2007 Posted by Unitus Labs, Update

Claudio Sissa, a Solutions Consultant from our Efficiency Team, recently traveled to Uganda and Kenya to study the African microfinance market. While there, Claudio visited Jamii Bora, a Unitus partner in Nairobi that is leading the way in innovative microfinance practices. Claudio was particularly interested in learning about their implementation of biometric POS (point of sale) devices, their lending methodologies, member acquisition/ retention practices, and Jamii Bora’s new housing project.

Jamii Bora works to provide financial services to the very poor regardless of their gender, economic situation, or religious background. A typical loan size is 2 times savings, and their average loan size is now approximately KSh 7,000 (US$100). Jamii Bora has approximately 170,000 members (as of October 2007), 61 branches, and 150 satellite branches that open once a week.

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