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MicroSave Counters Poverty in India with Micro-financing

MicroSaveThe MicroSave international consulting agency has been operating for more than 20 years. The organization uses micro-financing techniques to create value-led projects and organizations in India in order to counter poverty.

Their team consists of more than 175 professionals in the field, who use their skills to assist professionals in underdeveloped countries. Their work focuses on a market-led approach, which allows them to find customer-driven solutions. They take the time to visit low-income customers personally and to learn about their interests, strengths and circumstances to better help their clients target these customers, along with helping them hone their skills and implement maximum impact in their field.

The MicroSave team aspires to create a world where everyone from different backgrounds and cultures can obtain financial services tailored to their needs, and use these services to create anti-poverty solutions.

Their mission is to strengthen the capacity of institutions in underdeveloped countries through a series of financial inclusion models that help deliver financial services to people in a more effective manner. MicroSave has created a large number of these models to cover multiple fields of business, including sales and retail, small and medium enterprise financing, energy financing and digital financial services. The models connect people with a large range of stakeholders including self-help groups, banking correspondents and community-based financial organizations.

MicroSave also offers training and workshops that teach leaders how to build strong institutions, by effectively reaching out to customers through proper services, marketing, product development and innovation. These workshops provide clients with the knowledge needed to successfully become businessmen and women.

MircoSave’s team is divided into four groups to help apply services effectively. These groups include training, research, finance and risk management. The training group ensures knowledge is leveraged among their clients through preparatory materials, classroom training and certification.

The group responsible for research helps keep MicroSave and its clients afloat by making sure tactics are up to date and reliable in the specific industry they are working in.

The finance team teaches responsibility in finances to their clients, so money is used properly during and after their time with their clients.

Lastly, the risk management group focuses on training clients to work efficiently, decreasing their margin of error.

Over the last few years, MicroSave has expanded its services throughout Asia and Africa, working toward the goal of spreading proper financing techniques, and decreasing poverty throughout the world.

Julia Hettiger

Sources: MicroSave, Bloomberg, Microfinance Focus
Photo: Madhyame