The rapid analysis has attempted to explore the possible handover of the (poverty) stick from microfinance to fintech, which raised more questions than answers. According the article, early 2000s the sector “was on roll” adding more services to credit. Should we understand that the sector’s trend departed from the original idea of
microfinance closed market promoted by the Populists over the pat two decades and half? We do think that neglecting to clarify this point might create misunderstanding and misleading, besides being in contradiction with what has been recently said by the microfinance pioneer “There’s nothing called “sustainable finance” because the poor people are not included in that financial system. It’s a system for the rich. It’s as simple as that. Unless you have a financial system, which includes the poorest person, then sustainability doesn’t exist”.
We disagreed with above statement https://www.linkedin.com/pulse/linkedins-overused-buzzwords-2017-do-you… and the diversification of the microfinance products highlighted by the article seems to be in line with what we proposed since 2011, namely to have a demarcation line among food aid, income generating activities and enterprise development and apply a different approach, while dealing with the credit matters.
In practice, Unserved people and Underserved customers (Base III definition) should benefit of credit when they do comply with the eligibility criteria: Methodological approach and ground work for achieving SDGs.
In our view, “fintech for financial inclusion” should take into account the transformation of the sector and offer products that are sustainable for the providers (Finance and Digital), sustainable for the users and prices transparent. This is the suitable avenue to go; on the contrary, the history will repeat itself. FINANCIAL INCLUSION: THE NAME OF THE POVERTY GAME - A Paradigm for an Inclusive Growth
Ascanio Graziosi
Authored POVERTY – An Alternative Paradigm: MOVING FROM CREDIT-BASED ECONOMY to COMMUNITY BASED ECONOMY https://www.morebooks.de/store/gb/book/poverty-an-alternative-paradigm/…
The rapid analysis has attempted to explore the possible handover of the (poverty) stick from microfinance to fintech, which raised more questions than answers. According the article, early 2000s the sector “was on roll” adding more services to credit. Should we understand that the sector’s trend departed from the original idea of
microfinance closed market promoted by the Populists over the pat two decades and half? We do think that neglecting to clarify this point might create misunderstanding and misleading, besides being in contradiction with what has been recently said by the microfinance pioneer “There’s nothing called “sustainable finance” because the poor people are not included in that financial system. It’s a system for the rich. It’s as simple as that. Unless you have a financial system, which includes the poorest person, then sustainability doesn’t exist”.
We disagreed with above statement https://www.linkedin.com/pulse/linkedins-overused-buzzwords-2017-do-you… and the diversification of the microfinance products highlighted by the article seems to be in line with what we proposed since 2011, namely to have a demarcation line among food aid, income generating activities and enterprise development and apply a different approach, while dealing with the credit matters.
In practice, Unserved people and Underserved customers (Base III definition) should benefit of credit when they do comply with the eligibility criteria: Methodological approach and ground work for achieving SDGs.
In our view, “fintech for financial inclusion” should take into account the transformation of the sector and offer products that are sustainable for the providers (Finance and Digital), sustainable for the users and prices transparent. This is the suitable avenue to go; on the contrary, the history will repeat itself. FINANCIAL INCLUSION: THE NAME OF THE POVERTY GAME - A Paradigm for an Inclusive Growth
Ascanio Graziosi
Authored POVERTY – An Alternative Paradigm: MOVING FROM CREDIT-BASED ECONOMY to COMMUNITY BASED ECONOMY https://www.morebooks.de/store/gb/book/poverty-an-alternative-paradigm/…