MEDA is proud to be a part of the following:
Mennonite Economic Development Associates (MEDA) announced that it has joined the Better Than Cash Alliance by committing to support the transition of a significant volume of payments from cash to electronic through its work with partners in improving financial services and market systems for the poor.
“For more than 60 years, MEDA has been helping millions of poor people by creating sustainable business solutions to poverty and providing them with access to finance and markets,” said Allan Sauder, President of MEDA. “Electronic payments are an important component of our services, providing people with a secure, quick and cheap means of accessing their savings. Joining the Better Than Cash Alliance will allow us to be part of the collective effort to make these types of electronic payments more widely available, especially to the poorest and most underserved communities around the world.”
To read the full press release, click here.
To learn how MEDA is empowering the poor through our work to expand digital payments,
click here to read our fact sheet.
To view a case study slideshow highlighting the impact the Techno-Links project is having on farmers and enterprises in Nicaragua, through our parternship with microfinance bank MiCredito, click here. By partnering with Banco America Central (BAC), MiCredito now offers its loan clients a BAC bank account and debit card to access their loan.
To view a case study slideshow highlighting the impact the Techno-Links project is having on farmers and enterprises who can now transact electronically in Zambia, through our partner Zoona, click here. Using mobile phones and an agent network to provide access to electronic money transfers, payment services and voucher programs, Zoona's motto is to make money transactions in Africa "Easy. Quick. Safe." for those previously unbanked.
The Risk Management Initiative for Microfinance (RIM)
MEDA recently co-founded an exciting initiative to bring risk management in microfinance to the next level together with Appui au Développement Autonome (ADA), Calmeadow, Center for Financial Inclusion at Accion (CFI), MFX Solutions, Oikocredit, REGMIFA, and Triple Jump. The Risk Management Initiative for Microfinance (RIM) aims to contribute to the development of awareness, best practices, and appropriate standards for risk management in microfinance globally.
The mission of RIM is to contribute to the development of awareness, best practices, and appropriate standards for risk management in microfinance globally. The vision is to contribute to a socially-focused microfinance sector through which microfinance clients are protected from the impacts of internal and external risks inherent to the delivery of inclusive financial services. The newly established RIM will raise awareness through advocacy and visibility efforts about the importance of risk management in order to contribute to industry-wide standards and best practices for risk management, foster information and idea sharing between technical experts of microfinance risk management, and develop the capacity of risk management consultants in the field.
MEDA will contribute its specific expertise on integrated risk management for financial intermediaries through our MEDA Risk Management Framework as a part of this initiative. For more information, visit the website at http://www.riminitiative.org/
The Volunteers for Economic Growth Alliance (VEGA)
MEDA is a lead member in the VEGA Alliance, which offers opportunities for networking, learning, and forming new partnerships in international development. VEGA shares successes and tactics from the field that can improve current and future member programs. It helps forge stronger partnerships between government agencies, private institutions, and members to create and implement programs. VEGA also works to enhance members’ visibility through marketing and outreach activities, and provides business intelligence so members can innovate and take advantage of the next big ideas in international development.