Here are the key management practices that successful MFIs adopt to meet both their social and financial objectives. MBOpinions READ:
Here are the key management practices that successful MFIs adopt to meet both their social and financial objectives:
Good governance. The principles of accountability, transparency, participatory, responsiveness and adherence to law are usually embedded in good MFI governance. The best MFIs have a governing Board defined by their passion for the mission, competence, integrity, and with varied expertise in microfinance, social development and other relevant professions like finance, education, and health, among others.
Client empowerment and participation. Having been a development practitioner for more than four decades with government, private sector, and international organizations, I can definitively say that giving the poor access to resources is not enough. True empowerment is not just about access, but ownership: the poor must be given a chance to own resources so they can be fully in-charge of their destiny. As the saying goes, “he who has the gold rules.
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