Open Technologist

Grameen Foundation Statistics – Microfinance

On Blog Action Day I blogged about how the Grameen Foundation is using open source software to assist there needs to rid the world of poverty. I just finished Jeff Howe's book Crowdsourcing: Why the Power of the Crowd Is Driving the Future of Business and he provides further statistics about the Grameen Bank: The concept of micro-lending started 1976 with a loan of  $27 to 42 villagers The Grameen Bank was started 7 years later The Grameen Bank became self-sustainable by 1995 67% of...

Tackling Poverty With Open Source Software – Blog Action Day

The theme for Blog Action Day is poverty and the Grameen Foundation is an organisation making use of technology to enable the poor to create a world without poverty. The Mifos Initiative program is using open source software to create a service model that increases access to technology for microfinance institutions, allowing them to reach the worlds poor. Microfinance is a program whereby poor people are granted small loans (less than $200) to start and sustain small business like the Villiage...