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Micro-finance Policy and Development Framework: Ethiopia
Ethiopia is the second most populous nation in sub-Saharan Africa with approximately 63 million people and almost 44% of the population being in the age of 15 years and below. Ethiopia ranks 158 out of 162 countries in the Human Development Index (UNDP, 2001a).
VI. Module III: National, Regional, and International Support
Microfinance initiatives are more likely to succeed in a supportive national, regional, and international environment. Applying a systems’ perceptive, poverty eradication is recognized as a multi-scale endeavor with different partners participating at the local, national, regional, and international levels. Whereas the foregoing discussion has focused on microfinance lessons for the local level, this section will broaden the scope with lessons that scale up through the state to the global community.
V. Non-Material Benefits of Microfinancing
Microfinance initiatives offer more than just material benefits; they can also address issues associated with "non-material" poverty, which includes social and psychological effects that prevent people from realizing their potential.
V. Material Benefits of Microfinancing
Microfinance initiatives can play an effective role in addressing material poverty, the physical deprivation of goods, services, and the income to attain them. MFIs can help people become more economically secure. This, in turn, has a multiplier effect on people's standard of living, enhancing basic household welfare, such as food security, nutrition, shelter, sanitation, health and education services. MFIs can help prevent and extricate people from debt. Oftentimes, they liberate low-income households from moneylenders with outrageous interest rates that often reach 100% annually. Savings and credit services help people start or improve their own small businesses, providing income generation and employment for themselves and their families.
IV. Module II: Linking Microfinance to Poverty Eradication
There is a fundamental linkage between microfinance and poverty eradication in that the latter depends on the poor gaining access to, and control over, economically productive resources, which includes financial resources.
Principle IV: Prioritize Operational Efficiency
Key Principles for an African Model of Microfinance
IV. Principle III: Reinforce Microfinance to Advance the African Private Sector
Key Principles for an African Model of Microfinance
IV Module I Key Principles for an African Model of Microfinance
African microfinance is as diverse as the continent itself. An array of approaches have been used, ranging from traditional kinship networks and Revolving Savings and Credit Associations (ROSCAs) to NGOs and development projects, and funded by both the informal and formal financial sectors, as well as domestic and international and donors. Consequently, examples of African microfinance offer an array of lessons of what works and doesn't work.
IV. Introduction - MICROFINANCE IN AFRICA: THE MODEL
The last twenty years have seen significant advances in understanding and providing financial services to better advance development and eradicate poverty. This includes providing the financial means to save, access credit, and start small businesses, with the potential to enhance community development, as well as local and national policy making. When properly harnessed and supported, microfinance can scale-up beyond the micro-level as a sustainable part of the process of economic empowerment by which the poor can lift themselves from poverty.
III. BACKGROUND - Microfinance in Africa
The model seeks to identify a microfinance methodology-model adapted to Africa's specific needs for poverty eradication.
II. How Can MicroFinance Succeed In Africa?
African microfinance is as diverse as the continent itself. An array of approaches have been used, ranging from traditional group-based systems, to specialised lending by banks and funded by international nongovernmental organisations (NGO) financial intermediaries. Consequently, examples of African microfinance offer an array of lessons of what works and doesn’t work. Drawing from these lessons, and those from non-African examples, OSCAL developed a Microfinance model based on four principles:
5.15 Conclusions: Working Out of Poverty
Mobilizing the community of work to end poverty
4.5 Improving the performance of public services and formal sector enterprises: Working Out of Poverty
In many developing countries, pay and conditions in the public services have deteriorated badly over the long years of austerity associated with structural adjustment and the debt crises. This has seriously damaged morale and performance, led to the loss of some of the most talented public servants to the private sector, increased the risk of public servants resorting to “charging” citizens for services by demanding under-the-counter payments, and weakened confidence in the function of government.
4.0 Sustainable pro-poor growth and the governance of the labour market: Working Out of Poverty
It is revealing to look at the challenge of reducing and eventually eliminating poverty from the perspective of the drive to create decent work for women and men. Such a viewpoint helps to focus the attention of public authorities, from the local to the global level, the social partners and relevant groups in civil society on how to make institutions and markets serve better the needs of those most at risk of being trapped in poverty.
1.19 Building trust: Working Out of Poverty
Given the multifaceted and interconnected character of poverty, there is a growing awareness of the need for a range of policies that are specific to the problems faced by different communities and countries.
1.17 Building partnerships: Working Out of Poverty
I have often talked about the need for team play in the multilateral system to face the challenges of today’s world. Most would agree that the multilateral system is underperforming in this respect. We can and must renew our efforts to work together in a true global partnership of mutual responsibility and accountability.
1.15 Building an employment agenda: Working Out of Poverty
Employment, and the promotion of enterprise that creates it, remains the most effective route to poverty eradication. The objective of full employment is essential – an issue on which the European Union has given political leadership. Most policy prescriptions, however, do not view job creation as an explicit objective of economic and social policies, but rather as a hopedfor result of sound macroeconomic policies. At the ILO, we believe that sound macroeconomic policies are essential for desired growth, but such growth must be employment-intensive to effectively reduce poverty. While the main challenge remains at the national level, development cooperation has a role to play. Donor countries and institutions, especially international financial institutions, should build this in as an integral part of their vision.
1.2 From Copenhagen to the Millennium Declaration: Working Out of Poverty
In 1995, the Copenhagen Social Summit put the “people’s agenda” back into the forefront of international policy. By stressing the interlinked challenges of poverty, unemployment and social exclusion as central to a global social justice strategy, the Social Summit marked a turning point for the multilateral system. It reinforced the ILO mandate in the world of work and gave new impetus to the promotion of core labour standards.
Redefining Microfinance as a Strategy to Achieve the MDGs: International Year of Microcredit Report Advocates Shift from Poverty Alleviation to Wealth Creation
With microfinance gaining attention for its vital role in eradicating poverty, the International Year of Microcredit recently released a report, "Microfinance and the Millennium Development Goals (MDGs): A Reader's Guide to the Millennium Project and Other UN Documents", to provide further background and support for microfinance initiatives.
African Countries Focus on Microfinance: Twelve African Nations Engaged in the International Year of Microcredit to Date
Half of the population in Africa lives on less than one dollar a day. More than half the population has no access to safe drinking water. More than two million infants die annually before reaching their first birthday.[1] Such is the harsh reality of the scale of poverty in Africa. The Millennium Development Goals and the objective to halve the proportion of people living in extreme poverty by 2015 has driven a number of regional and national initiatives focused on poverty eradication in Africa based on local needs and priorities.

The Carnival of African Enterprising
The 5th Carnival of African Enterprising presents views of bloggers based on the theme Positioning Africa in the 21st Century. We received many submissions and summarized those that captured the theme.

Other poverty eradication Related Articles

African Countries Focus on Microfinance: Twelve African Nations Engaged in the International Year of Microcredit to Date
Half of the population in Africa lives on less than one dollar a day. More than half the population has no access to safe drinking water. More than two million infants die annually before reaching their first birthday.[1] Such is the harsh reality of the scale of poverty in Africa. The Millennium Development Goals and the objective to halve the proportion of people living in extreme poverty by 2015 has driven a number of regional and national initiatives focused on poverty eradication in Africa based on local needs and priorities.

The Role of Microfinance in Addressing the HIV/AIDS Pandemic in Zambia: The Rainbow Model Provides a Future for AIDS Orphans
Poverty and HIV/AIDS constitute a vicious circle. Poverty creates vulnerability to HIV/AIDS, and HIV/AIDS leads to poverty. Unfortunately, the interventions of the national and international community are not moving as quickly as the desperation and the loss of hope in the people coping with the pandemic at the grassroots level.

1.15 Building an employment agenda: Working Out of Poverty
Employment, and the promotion of enterprise that creates it, remains the most effective route to poverty eradication. The objective of full employment is essential – an issue on which the European Union has given political leadership. Most policy prescriptions, however, do not view job creation as an explicit objective of economic and social policies, but rather as a hopedfor result of sound macroeconomic policies. At the ILO, we believe that sound macroeconomic policies are essential for desired growth, but such growth must be employment-intensive to effectively reduce poverty. While the main challenge remains at the national level, development cooperation has a role to play. Donor countries and institutions, especially international financial institutions, should build this in as an integral part of their vision.
2.4 Agricultural workers and rural communities: Working Out of Poverty
A better understanding of the social and economic dynamics of rural communities is critical to the reduction and eradication of poverty. The world’s poorest countries are those most dependent on agriculture. Threequarters of the people in extreme poverty live in rural areas.
2.8 The foundations of a decent work strategy for poverty reduction: Working Out of Poverty
Most analysts of the nature and causes of poverty agree that growth in per capita income is essential to reducing poverty and that persistent growth failures are accompanied by a persistent failure to reduce poverty. However, they have not found a stable relationship between the rate of average per capita growth and the rate of poverty reduction.
5.6 A coherent framework for national and local action: Working Out of Poverty
Increased in-depth analysis of the multifaceted experience of poverty is leading to a growing awareness of the need for a range of policies that are specific to the problems faced by different communities and countries. Given that the causes of poverty are many and interconnected, targeted policies have most effect when they act in combination to break cycles of poverty. One of the most encouraging aspects of the new approach to poverty reduction and eradication is therefore the emphasis on policy coherence, based on a comprehensive development framework.
5.8 Looking towards the future: Working Out of Poverty
A tripartite commitment to the eradication of poverty
III. BACKGROUND - Microfinance in Africa
The model seeks to identify a microfinance methodology-model adapted to Africa's specific needs for poverty eradication.
IV. Module II: Linking Microfinance to Poverty Eradication
There is a fundamental linkage between microfinance and poverty eradication in that the latter depends on the poor gaining access to, and control over, economically productive resources, which includes financial resources.
VI. Module III: National, Regional, and International Support
Microfinance initiatives are more likely to succeed in a supportive national, regional, and international environment. Applying a systems’ perceptive, poverty eradication is recognized as a multi-scale endeavor with different partners participating at the local, national, regional, and international levels. Whereas the foregoing discussion has focused on microfinance lessons for the local level, this section will broaden the scope with lessons that scale up through the state to the global community.
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