This lecture argues that through inclusive finance, companies can make money and help solve the global problem of poverty. By inclusive finance we mean opening access to high-quality financial services to everyone who needs them, especially low-income and previously excluded people. We also discuss how microfinance—until recently a small, close-knit community of institutions offering microloans—is evolving into an essential part of global financial systems and engaging with new private-sector players. | Micro Financing & Micro Leasing An Introduction Summary of last Lecture Microfinance Background and Introduction. Introduction Xavier sells frozen fish and a few groceries at a dusty intersection on the outskirts of Maputo, Mozambique. Wearing a crisp white shirt and tie, he poses before an electric typewriter in his kiosk. Everything about the picture, including the pride in his face as he looks at the camera, reflects his striving to become a successful businessman. Introduction Big institutions of society had either failed or ignored him, except for the Coca-Cola distributor that brought him cases of soft drinks to sell. Xavier was putting the pieces of prosperity together for his family on his own by building his business. He had a loan from a microfinance cooperative, but it was small, suitable only for financing a little extra stock. Introduction Xavier could be a loyal customer for many other financial services—savings accounts to help him build for the future, a . | Micro Financing & Micro Leasing An Introduction Summary of last Lecture Microfinance Background and Introduction. Introduction Xavier sells frozen fish and a few groceries at a dusty intersection on the outskirts of Maputo, Mozambique. Wearing a crisp white shirt and tie, he poses before an electric typewriter in his kiosk. Everything about the picture, including the pride in his face as he looks at the camera, reflects his striving to become a successful businessman. Introduction Big institutions of society had either failed or ignored him, except for the Coca-Cola distributor that brought him cases of soft drinks to sell. Xavier was putting the pieces of prosperity together for his family on his own by building his business. He had a loan from a microfinance cooperative, but it was small, suitable only for financing a little extra stock. Introduction Xavier could be a loyal customer for many other financial services—savings accounts to help him build for the future, a home-improvement or fixed asset loan, health insurance, and remittance services to send money to his relatives in South Africa Introduction Xavier could be a loyal customer for many other financial services—savings accounts to help him build for the future, a home-improvement or fixed asset loan, health insurance, and remittance services to send money to his relatives in South Africa. Introduction The success of microfinance institutions in making small loans to people like Xavier has begun a revolution in financial sectors around the world. Introduction The consequent media attention to microfinance is leading the business community to consider what their roles might be in bringing financial services to population groups that have long been marginalized. Introduction The gaps we see in Xavier’s financial needs point toward many opportunities that await entrepreneurial companies prepared to engage the low-income market. Introduction Imagine a world in which a farm couple in the highlands of .
