Microfinance must first and foremost be about making a difference in the lives of the impoverished and marginalized. It must be about having a positive impact for the overall welfare of microfinance clients.
Zidisha entreprenurs have maintained a 98-percent repayment rate for the hundreds of loans they've financed through our platform, disproving the notion that disadvantaged people in developing countries need to be supervised by expensive local bureaucracies.
This past weekend I devoured a new tell-all book by Hugh Sinclair, Confessions of a Microfinance Heretic. It's a disquieting read, especially for someone like me who was deeply engaged in international microfinance especially in the early years.