World Bicycle Relief: Microfinance
For Dave Neiswander, director of World Bicycle Relief’s Africa operations, WBR’s microfinance program speaks to his financial background. A former investment banker in Washington, D.C., who moved to Zambia three years ago, Neiswander said combining the best practices of microfinance with quality bicycles is a way to spread millions of bicycles across Africa.
WBR has partnered with Harmos, one of the largest microfinance institution in Zambia, to loan individuals money over the short-term to purchase bicycles. The pilot program began in the Chongwe district in January 2008 with 1,000 bikes. It appears to be working. In the short amount of time required for individuals to pay back the loan on a bicycle, generally three to six months, the program has seen a remarkable 100 percent repayment rate. To read more, please click here.
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