The first time I witnessed microfinance in action was in Cambodia. I met clients who beamed as they described the impact small loans and training had on their lives. Transforming their families and communities, clients were working their way out of poverty. I joined the multitudes convinced this simple concept pioneered by Muhammad Yunus...
Why I’m Getting out of Microfinance
Recently I presented at the Chicago Microfinance Summit (see LiveBlog: Chicago Microfinance Conference). In all sessions I attended, the topics centered on investors and profitability. Strikingly absent were the clients. It was at that moment that I decided, “If this is microfinance, I want out.” When Muhammad Yunus began his pioneering work in microfinance...