alberta citylink was an airline based in medicine hat , alberta , canada .

it operated domestic passenger service for air canada as an air canada connector air carrier via a code sharing agreement .

its main base was medicine hat airport , with a hub at calgary international airport

alberta citylink

the mailing address of airlines : pobox161 , medicinehat , alberta , t1a7e8 , canada .
alberta citylink is bar xh and they have sold a couple jetstream32 ' s to peace air as well as a bae 31 . quik air is , or was , using flight ops ' s oc and flies the flight ops plane on ther sked back and forth to cyeg .
1999 - 685 - gt group . tn 7 . interim approval with changes . introduction of tariff rates for ontario , quebec and alberta .
the airline was established and initiated operations in 1996 . it was created to operate scheduled passenger services for air bc and air canada in alberta and eastern british columbia . in 2000 , air canada cancelled its contract , but services continued for peace air until 2004 . it had 20 employees . [ 1 ] scheduled services were also operated by bar xh air ( established in 1974 ) under the name alberta citylink . however , scheduled services are no longer operated . [ 2 ]
operating under the name of alberta citylink , bar xh offered reliable standards of service , to provide scheduled services on a subcontracted basis to major air carriers across canada . before the merger of canada ' s national carriers in 2000 , we provided a scheduled commuter service to air canada . bar xh is not currently operating scheduled routes .
• 1600 within canada , the airline industry is clearly divided into three camps : the red , the blue , and the unaffiliated . the red camp includes scheduled air carriers aligned with air canada and includes wholly owned subsidiaries like air ontario , air nova , air bc , and air alliance , as well as smaller privately owned domestic carriers like alberta citylink , central mountain air , first air , air creebec , and bearskin airlines .
1999 - 892 - cnci . tn 8 . interim approval . contribution charges for trunk - side and line - side access - amendment of its contribution rates for alberta to remain consistent with those of the incumbent local exchange carrier .
bar xh was a provider of canadian air charter service based in medicine hat and calgary , alberta , canada . bar xh offered air charter , air ambulance , scheduled flight services to major airlines as well as aviation and flight training services .
1999 - 01 - in re : form of regulation for telus communications ( edmonton ) inc . - telecom public notice crtc 1998 - 03 . application for costs by the consumers’ association of canada , alberta branch . file number : 8085 - rp0007 / 98
1999 - 873 - tci . tns 78 / a . approved . amalgamation of the service charges of the former telus and tcei under a common tariff , so as to provide standard structures , rates and terms and conditions of service throughout alberta . eff . date = 20 . 09 . 99 .
1999 - 14 - in re : service to high - cost serving areas – telecom public notice crtc 1997 - 42 . application for costs by the federation of alberta gas co - ops , submitted on its behalf by the campbell ryder consulting group . file numbers : 8665 - c12 - 04 / 97 and 4754 - 159
mr . stephen smith ( president and chief executive officer , westjet airlines ) : good afternoon , ladies and gentlemen of the standing committee on transport . my name is stephen smith . i am the president and chief executive officer of westjet airlines , a regional low - fare carrier operating completely in western canada , based in calgary , alberta .
1999 - 452 - tci tn 85 . approved . amalgamation of the digital exchange access ( dea ) services of the former telus communications inc . and telus communications ( edmonton ) inc . under a common tariff , so as to provide standard dea structures , rates and terms and conditions of service throughout alberta . eff . date = 24 . 5 . 99 .
1999 - 350 - tci . tn 45 . approved . amalgamation of the centrex - based data services of the former telus communications inc . and telus communications ( edmonton ) inc . under a common tariff , so as to provide standard switched 56 digital service structures , rates , and terms and conditions of service throughout alberta . eff . date = 1 . 5 . 99 .
1999 - 359 - tci . tn 51 . approved . addition of three new calling features : advanced call forwarding , do not disturb tm and call gate tm , and alignment of the services of the former telus communications inc . and telus communications ( edmonton ) inc . so as to provide similar calling features structures , rates , and terms and conditions of service throughout alberta .
1999 - 03 - in re : recovery of local competition start - up and local number portability costs - telecom public notice crtc 1998 - 10 . application for costs by the alberta council on aging , the consumers’ association of canada , la fédération nationale des associations de consommateurs du québec and the national anti - poverty organization . file number : 8622 - s1 - 03 / 98
1999 - 789 - citytel . tn 37 . approved . residential additional line bundle , from 1 september to 31 december 1999 , consisting of : one additional individual residential access line , including the message relay centre charge ; a choice of one custom calling feature service or call answer service ( vmuif - voice messaging user interface forum ) ; citylink unlimited internet service ; and one e - mail address in addition to the address included with internet service . eff . date = 1 . 9 . 99 .
1999 - 364 - tci . tn 66 . approved . special number search - amalgamation and restructuring of the prestige telephone numbers service of the former telus communications inc . and the special number search service of the former telus communications ( edmonton ) inc . under a common tariff , so as to provide standard service structures , rates , and terms and conditions of service throughout alberta . eff . date = 1 . 5 . 99 .
1999 - 1005 - tci . tn 143 . approved . digital channel service and citynet 200 / 300 service - amalgamation of the digital channel - based data services of the former telus communications inc . and telus communications ( edmonton ) inc . under a common tariff , so as to provide standard dcs structures , rates and terms and conditions of service throughout alberta and grandfathering of the citynet service to allow customers with valid contracts to continue receiving citynet service until the expiry date of their existing contracts . eff . date = 22 . 10 . 99 .
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air canada tango was a low - cost subsidiary branch of air canada , which was established in 2001 to offer no - frills service on some of air canada ' s routes and to reduce operating costs at the struggling main company . based in toronto , tango operated on the major longer - distance canadian routes between cities such as toronto , ottawa , montreal , calgary and vancouver , as well as to some holiday destinations in the usa and mexico such as fort lauderdale , seattle , tampa and mexico city .
the airline ' s name is short for
tan and go
, which is in reference to the southern winter destinations that were initially planned to be served .
the airline was launched in november 2001 with a fleet of 12 airbus a320 and 9 boeing 737 - 200 aircraft , but by 2004 the airline had ceased flying .
air canada retained
tango
as a brand name for their cheapest air fare category .
air canada tango aircraft were configured in a full economy class layout rather than with a business class section as on regular air canada aircraft and featured a distinctive purple colour scheme .
this article is issued from wikipedia - version of the 4 / 16 / 2016 . the text is available under the creative commons attribution / share alike but additional terms may apply for the media files .
air canada ' s purchase last year of canadian airlines international and subsequent merger of operations left a bad taste among the travelling public - many missed flights , faced long delays , got bumped or lost their luggage .
feeling the heat from passengers and regulators alike , air canada president and chief executive officer robert milton appeared in a slick advertising campaign last summer , with a promise to give customers
the best possible service in the world
within 180 days . he claims to have solved most of the problems well before his self - imposed deadline .
lost in the plethora of media horror stories was the fallout from the merger on feeder agreements with both air canada and canadian and their regional partners . prior to consolidation , air canada and canadian had about 16 commercial agreements with smaller operators . today , there are eight codeshare agreements of different forms in place .
the main reason for the reduction is over - capacity - particularly in western canada , according to rick flynn , halifax - based vice - president , business development for air canada regional , the new entity bringing together all air canada ' s feeder partners . flynn says ,
the situation at the tier three level was not unlike what was happening at the mainline operations where you had too much capacity and overlapping service .
president les little is optimistic , however , about future opportunities to get back into scheduled service following a shakeout of the air canada and canadian merger .
i would also love to set up some commercial tie with westjet ,
little says .
pacific coastal airlines of vancouver was providing service to canadian regional airlines , but was dropped after air canada took over canadian airlines . it had purchased three shorts 360 aircraft specifically to fly the routes designated to it by canadian . all codeshare flights were transferred to air bc after its contract with canadian was cancelled and pacific coastal is suing air canada for breach of contract .
our agreement with canadian represented about 30 % of our business and these new agreements don ' t represent anything near that ,
says pacific coastal ' s chief executive daryl smith .
sunwest home aviation of calgary also took legal action against air canada after its codesharing agreement with canadian was cancelled . it had ordered four fairchild metro 23 aircraft to meet expanding route requirements and two had been delivered when air canada took over canadian . sunwest had been providing a wet - lease metro 23 to canadian since 1993 , but entered into a codesharing and risk - sharing agreement with the airline in 1999 before it all came apart five months later .
although its agreement with canadian only represented about 15 % of its business , sunwest was financially on the hook for two metro 23s , having cancelled the two others on order .
we looked at various options such as carrying on , on our own , but there was nobody to connect to ,
says mark eberl , the company ' s managing director .
we looked at doing something similar with us carriers , but that also didn ' t work .
eberl even contacted westjet , but it was too busy building its own route structure to show much interest .
we don ' t fit their profile , because their clientele would save money by driving to calgary to catch a flight rather than hitch a ride on one of our aircraft .
eberl says the pain of
being dropped like a hot potato
by air canada has been eased slightly by the booming oil business , the primary focus of his charter operations .
meanwhile , air canada is busy uniting its regional carriers into a single brand whose name and logo is still under development , according to flynn . the plan is to launch the new brand by early autumn as part of a company - wide restructuring that has seen both the airline ' s aeroplan loyalty programme and its technical services operation spun off into separate units .
the regionals - air bc , air nova , air ontario and canadian regional airlines , the former canadian airlines regional feeder - have merged to become a wholly owned subsidiary of air canada . the combined entity has 5 , 000 employees and 132 aircraft , half of which are bombardier dash 8 - 100s . the rest of the fleet consists of 32 fokker f28 - 1000s , 19 dash 8 - 300s , 10 british aerospace 146s and five raytheon beech 1900ds .
plans to expand or modernise the fleet are on hold as part of air canada ' s zero growth policy this year . and the different regionals must create a common bargaining unit for the entire fleet before moving ahead .
we ' re dealing with more complexities now than with the air canada and canadian merger , because there are over 30 different agreements in place ,
says flynn .
it ' s like a moving target with no set deadline , but we want to get an agreement in place as soon as possible so we can move forward with fleet renewal and better labour and customer relations .
the regional airline ' s scope clause is extremely rigid as far as jet aircraft are concerned and is tied to the growth formula at the flagship carrier , which has a fleet of 239 aircraft , including 25 bombardier crj100s . as long as the mainline fleet stays at 239 aircraft , the regional division can continue to operate its jet aircraft . the scope clause restricts the number of jets , the size of the aircraft , the rate of transfer from air canada and the relative number of available seat miles that can be flown by the regional carrier . in addition , the carrier is limited to 55 - seat and 80 - seat turboprop aircraft . the number of jets it can operate is based on a floor of 39 jets , including the 10 bae 146s , with additions possible only if air canada adds aircraft of 100 seats plus .
the f28s are to be replaced by the crjs as long as new jet aircraft are introduced to the mainline fleet to replace them . since air canada announced no growth this year , however , the f28s can only be replaced by turboprops .
the eventual fleet renewal could lead to new opportunities for air canada in the regional carrier market , says flynn , noting that some of the partners have been approached to look at several different business arrangements .
with our regional expertise , we are actively seeking out opportunities for our excess capacity , notably the f28s , whether on a training basis or equity partnership with another carrier . it was never part of our business plan up to now , but it has been put on the agenda to research it further .
only twice in the first decade since the airbus a380 entered service has the double - deck aircraft ended a year with its order backlog higher than that of the previous one . on both occasions middle eastern carrier emirates alone had spared the programme from recording a duck for the year . emirates ordered 32 a380s in mid - 2010 and just eight days before the end of 2013 signed for another 50 of the type .
losing four geared turbofan engines to in - flight failures as a result of a botched durability upgrade was not how pratt & whitney wanted 2018 to begin quite the opposite .
evidence - tran ( 36 - 2 ) - no . 17 - house of commons of canada
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the chair ( mr . stan keyes ( hamilton west , lib . ) ) : good afternoon , colleagues . pursuant to standing order 108 ( 2 ) , this is a study on the future of the airline industry in canada .
we welcome our witnesses this afternoon . representing westjet airlines , we have mr . stephen smith , president and ceo . from bearskin airlines , we have harvey friesen , president . and from first air , we have three representatives : mr . robert davis , president ; mr . pita aatami , chairman ; and mr . sam silverstone , the legal counsel .
gentlemen , good afternoon and welcome to the standing committee on transport . we look forward to hearing your presentations . i ' d like to begin if i might with westjet airlines and mr . stephen smith .
mr . michel guimond ( beauport—montmorency—côte - de - beaupré—île - d ' orléans , bq ) : on a question of privilege , mr . chairman , i am raising section 117 of the points of order , which stipulates that the chair of a committee must maintain order in the committee and ensure that the proper procedure and practices are observed .
i am also raising , mr . chairman , beauchesne ' s parliamentary rules and forms
, 6th edition , in which point 75 deals with members ' freedom of speech . i will read you that point :
75 . the privilege of freedom of speech is both the least questioned and the most fundamental right of the member of parliament on the floor of the house and in committee . it is primarily guaranteed in the british bill of rights which declared “that the freedom of speech and debates or proceedings in parliament ought not be impeached or questioned in any court or place outside of parliament” .
i am also raising , mr . chairman , point 69 of beauchesne ' s parliamentary rules and forms ,
69 . the speaker has reminded the house , “it is very important . . . to indicate that something can be inflammatory , can be disagreeable , can even be offensive , but it may not be a question of privilege unless the comment actually impinges upon the ability of members of parliament to do their job properly . ”
• 1540 i answered that i had a job to do , that i was doing this job to the best of my abilities , with my talents and my failings , but also with my heart , that i felt threatened by him , that i had a right to speak here , in parliament , because we live in a democracy and i had been sent here by citizens who trusted in me to represent them as well as any one of us .
i told him that , in a democracy , voters can change their representatives every four years if they ' re not satisfied with their work , unlike senators who are appointed as a political reward .
i went to see the security guards with this individual . i asked him to identify himself . he was wearing a blue card issued by the house security service with the name scott bradley on it .
while all this was going on , ms . parrish arrived . i asked her if she had witnessed the threats he made against me and she said no , she hadn ' t .
the security guard i met went to get his immediate superior and all the notes were recorded . at the moment , an inquiry is being carried out .
today at noon , i went to see the sergeant - at - arms cloutier and indicated to him that i would be raising this question of privilege and that it was up to you to decide , as committee chairman .
mr . chairman , considering the facts i ' ve presented , considering the parliamentary law applicable in these cases , i would ask that you ensure my safety as a member of parliament and that you continue to recognize my right to speak , as you have always done , mr . chairman . i would like to repeat that i am not criticizing your chairmanship . whether you agree with the comments i make or not , you have always conducted the work of this parliamentary committee with a master ' s hand , but i am telling you that my rights have been violated and i am afraid that other people will threaten and intimidate us .
the chair : mr . guimond raises a very important point , a point that we must , individually or as a collective , respect , and that is the ability to sit in a committee . we also have the privilege of being protected by the house of commons , because this committee and any committee of the house of commons is an extension of the house of commons .
we must be able to do our job to the best of our ability , and if that means asking questions that we feel are important and might not be to the liking of a particular individual who might be watching these proceedings , that ' s too bad , because quite frankly , we have a job to do .
i don ' t care if it ' s a member of any opposition party or my colleagues on the government side . i have to remain as neutral as i can as chair and protect the integrity and the abilities of every member of this committee to express their views , ask the questions , and get to the point of whatever it is they want to do with the witness .
• 1545 mr . guimond , when i left the committee this afternoon , i was told of the altercation out front—the altercation of words ; let ' s make that clear . the first thing i did on your behalf , as i would on anyone ' s behalf as a member of this committee , is i had a discussion with mr . cloutier as well . i have asked for , and mr . cloutier has supplied us with , a security guard outside this door so that , for your security and the security of all members , when the committee meeting is concluded and you want to leave , you can leave without fear of being harassed .
we all know there ' s a bit of a game that happens here in ottawa . it ' s an art form . we walk out of question period , and even the door coming out of question period is jammed with cameras and reporters , and everyone is trying to get their clip from the latest hot member of parliament or cabinet minister , and in the case of a committee , the latest witness who happens to be on the hot seat at that moment . so there ' s a scrum , and scrums can be very difficult to get through .
at times witnesses and the friends of witnesses who sit behind our witnesses will get as tempered as we do sometimes , except we have the right to be tempered , sitting here to ask the questions . quite frankly , after the fact , if they want to have a discussion , they can come up to us and have a discussion . we hope that discussion is always done in a non - hostile manner .
unfortunately , in this circumstance , i have heard it didn ' t happen that way .
mr . guimond , i hope you ' ll take some solace in the fact that i have spoken with the sergeant - at - arms , mr . gus cloutier . a security guard will , from this day forward until the end of these hearings , be posted outside this door so as to make sure you can come and go without any harassment .
on the matter of asking this individual to no longer be admitted into the committee room , i too would like to have a discussion with this individual , from the perspective of being a chair , to point out to him that he went over the line in the opinion of one of my members of this committee . i would like to see what this individual does first . from what you have told me—and i don ' t have both sides of the story quite yet—i would expect that if there were no witnesses . . . i am familiar with this individual , and i am probably 90 % sure this individual will get in contact with you in one way or another to express an apology .
i hope that goes some distance in satisfying your point of order with us this afternoon . mr . guimond , do you have anything to add ?
we apologize to the witnesses for the interruption . it was obviously a necessary one .
mr . smith , when you ' re comfortable , we would like to hear your presentation on behalf of westjet .
• 1550 why has westjet been successful when other airlines have not been ? there are a number of factors , but primarily it comes down to our people . westjet invests heavily in its people , and as a result they provide us with a low - cost structure where we average approximately 65 employees per aircraft versus the two major carriers , who currently employ between 140 and 170 employees per aircraft . in addition , our people give us a customer service for which we are renowned and which really is the reason people continue to come back to westjet .
westjet fares are , on average , approximately one - half of those charged by the major carriers , and none of our fares have any saturday night stay requirements in them . we are the true low - cost carrier .
westjet ' s marketing philosophy is not to garner market share , but rather we grow the marketplace in which we serve . in 1997 , when westjet had only seven aircraft compared with 1995 , which was before we had started , we had seen our marketplace grow an average of 150 % . now that we are up to 13 aircraft we believe the stimulation is much greater than that . prior to our arrival , markets would grow an average of approximately 3 % per year , for comparison ' s sake .
from the financial results posted by air canada , the three publicly traded charter airlines , some regional carriers and ourselves , which all appear to be relatively healthy , we can only draw the conclusion that the airline industry in canada is not broken .
first , we request that there not be any reregulation of the industry in canada . we believe this is wrong and definitely not called for .
second , assuming that one of the current offers is successful , we will end up with one major carrier in canada . westjet is very pro competition . we were born in an era of competition . we will thrive in an era of competition . while we do not believe we compete with the major carriers , any restructuring or consolidation in the airline industry would be extremely favourable to westjet . we become a viable alternative to the major airlines as their frequency on routes decreases and ours increases .
we do have a problem , however , if one carrier controlling approximately 90 % of the airline industry in canada is free to do whatever they want in terms of current or potential competition . you can imagine what would happen if a carrier were to control the high - fare market and also decided to get into the low - fare marketplace . there would be very few if any openings for future competition .
• 1555 in addition , it would allow this new large entity to cross - subsidize its low - fare operation from an obviously profitable high - fare operation that would have no competition .
as a result , we are asking transport canada , along with the competition bureau , to ensure that a framework of competition is built into any single carrier proposal .
we have seen a letter from mr . konrad von finckenstein , commissioner of competition , to the hon . david collenette , minister of transport , with respect to some ideas into which we had some input , and we are supportive of many of the ideas contained in that letter .
westjet believes we live in an efficient economy and as a result we must allow competition and the forces in that efficient economy to occur .
obviously this does not guarantee that every company that exists will always exist , and in fact i will suggest to you that would only see a regeneration of the airline industry if there were some dramatic change to the current existing scenario .
in addition , there has been some comment about allowing foreign airlines to operate on domestic routes . while once again westjet is pro competition , without reciprocal agreements in other countries we do not believe this makes sense for canada , and in particular not for westjet .
without the ability to respond to foreign carriers who may decide to set up service on canadian routes , it can create an unequal playing field in which we could find it very difficult to compete .
from my speech , i would like you to take the following . first , westjet has been doing , and continues to do , extremely well . this morning we released our third - quarter results and on a margin basis we are one of the top profitable airlines in north america , if not the top profitable airline , on a margin basis , in north america .
secondly , we believe there ' s a problem with one player in the industry .
third , while westjet will do well with any restructuring or consolidation , if we end up with one dominant carrier , we would ask the competition bureau and transport canada to ensure that we have a competitive , fair , and equitable airline industry .
we would ask that the concept of reregulation not be considered , and we do not support the ability for foreign - owned carriers to operate in canada without reciprocal agreements .
the chair : thank you , mr . smith . we appreciate that , and all within the 10 minutes too , which is terrific .
mr . harvey friesen ( president , bearskin airlines ) : mr . chairman , honourable members of parliament , and ladies and gentlemen , i ' d like to thank you for the opportunity to make a presentation to the transportation committee at this time .
bearskin airlines , or our corporate name , bearskin lake air service , will celebrate its 37th anniversary in july 2000 . bearskin airlines ' roots are deep in the soil of northern ontario , and the company has come a long way since its founding on july 17 , 1963 .
at present , bearskin airlines operates a fleet of 26 aircraft under a variety of schedule , charter , and contract services . bearskin airlines is northern ontario ' s hometown airline and its largest commuter airline .
in 1999 the company will carry more than 200 , 000 passengers to 38 destinations on almost 200 scheduled departures daily . bearskin is also a charter carrier in the region , providing services to government , corporate , and private interest groups .
bearskin ' s scheduled network extends from flin flon , the pas , and winnipeg in the west , to sudbury , north bay , and ottawa in the east , and as far north as peawanuck and fort severn on the hudson bay coast .
our current marketing agreement with air canada ' s connector carrier , air ontario , provides for our participation in the aeroplan frequent flyer program as well as joint fares with air canada .
affiliation with air canada provides for a number of marketing tools that enable the red camp to be more competitive than they could be individually . wholly owned subsidiaries and some of the privately owned carriers participate in code sharing with air canada .
all airlines in the red camp are offered participation in the aeroplan frequent flyer program , as well as through fares or joint fares . these airlines also endeavour to facilitate connections between each other at the hub airports , providing a seamless service for passengers and baggage that make multiple connections .
globally , air canada is aligned with other carriers in the star alliance , including lufthansa , united airlines , sas , and other carriers . the benefits to these member carriers are similar to those outlined above .
the blue camp includes scheduled air carriers aligned with canadian airlines international and includes wholly owned subsidiaries like canadian regional , as well as privately owned carriers like ontario regional , inter - canadien , and calm air , in which canadian has a part interest .
globally , canadian airlines is aligned with other carriers in the oneworld alliance , including american airlines , british airways , and other carriers . the benefits to members of this alliance are similar to those outlined in the red camp and star alliance partners .
unaffiliated carriers include scheduled and charter carriers who have remained independent , like westjet , canada 3000 , royal aviation , and others . most of these carriers serve only larger markets on a point - to - point basis . although these carriers can be and are competitive in the markets they serve , they are unable to compete effectively in a true global sense .
within the current environment , wholly owned subsidiaries of either the red or blue camp can receive specific direction in terms of markets served or fares charged . privately owned affiliated carriers are free to do as they like , although policies that are not endorsed by the major carriers could have negative effects on their relationship .
bearskin airlines prides itself on being a canadian airline , and , as an operator and business owner in this country , we would not like to see any changes that would effectively place control of our industry out of the hands of canadians .
there has been much said about the impact of job losses and layoffs , and again , comments have been made on minimizing this impact by expansion and attrition . for independents our size , the concern is , will this expansion to reduce layoffs result in dumping aircraft and financial resources on routes currently operated by independents , commuters , and regionals , who will be stripped of their marketing tools and end up going it alone against their former partner ? if this occurs , the layoffs will happen not with the large carrier , but with the small independents who cannot fight such a huge competitor .


finca international is a non-profit , microfinance organization , founded by john hatch in 1984 .

sometimes referred to as the " world bank for the poor " , finca is the innovator of the village banking methodology in microcredit and is widely regarded as one of the pioneers of modern-day microfinance .

with its headquarters in washington , d.c. , finca has 21 affiliated host-country institutions ( affiliates ) , in latin america and the caribbean , africa , eurasia and the middle east and south asia .

along with grameen bank and accion international , finca is considered to be one of the most influential microfinance organizations in the world .

finca international

rupert scofield , president and chief executive officer of finca international . what’s next for microfinance ? photo by : finca international
the majority owner of the finca impact finance network is finca international , a not - for - profit organization . finca international is joined by socially minded minority shareholders .
the majority owner of the finca impact finance network is finca international , a not - for - profit organization . finca international is joined by socially minded minority shareholders .
’s lana parrilla is collaborating with the foundation for international community assistance ( finca ) to combat global poverty .
finca international is a washington , dc - based not - for - profit organization with a mission to alleviate poverty through lasting solutions that help people build assets , create jobs and raise their standard of living . finca uk is a london - headquartered partner organization of finca international . finca international is also the majority owner of finca impact finance , a network of community - based microfinance institutions and banks .
francis fukuyama , ph . d . , director of international development programs , the paul h . nitze school of advanced international studies , the johns hopkins university
charity navigator only considers information reported on united states irs form 990 , thus , it fails to take into account finca international’s consolidated financial statements , which represent our international network of 20 subsidiaries . charity navigator has acknowledged that their current evaluation model is not designed to evaluate the specifics of finca’s unique business model . therefore , finca international and charity navigator mutually agreed that finca should delist from the ranking service .
the mastercard foundation and finca international launch $ 12 . 7 million partnership to expand financial services in malawi , tanzania , and zambia
the microfinance ceo working group encompases officials from 10 international organizations that promote microfinance in some capacity , including finca , brac and care .
finca international’s partners in fmh are a group of leading , socially - responsible investors that share finca international’s poverty alleviation mission . partners include the international finance corporation ( ifc ) , kfw bankengruppe , fmo , responsability global microfinance fund , asn - novib ( managed via triple jump ) and triodos investment management . no employee or board member of finca international will be allowed to invest or have an equity interest in , or benefit financially from , fmh , as specifically defined in the legal documents establishing fmh .
finca’s unique business model combines the heart and soul of a nonprofit organization—finca international—with the business acumen of a for - profit business—finca microfinance holding company—to generate optimal impact and reach millions more people with life - changing financial services .
what do you think about the future of microfinance and traditional mfis such as finca international ? let us know by leaving a comment below .
the finca international global mission is to alleviate poverty through lasting solutions that help people build assets , create jobs and raise their standard of living .
the mastercard foundation and finca international launch $ 12 . 7 million partnership to expand financial services in malawi , tanzania , and zambia - mastercard foundation
( office of her majesty , press department – new york ) her majesty queen rania al - abdullah co - chaired the launch of the village banking campaign where finca international ( the foundation for international community assistance ) , announced it would bring its considerable microfinance expertise and resources to jordan and the broader middle east . international insurance giant aig ( american international group , inc . ) pledged its support to expand micro - insurance products through a $ 1 . 5 million grant .
finca international , inc . is the founding organization of the network’s 21 microfinance institutions ( subsidiaries ) . in 2010 , finca international established a holding company structure through the creation of finca microfinance holding company llc ( fmh ) . fmh was created to facilitate access to socially - responsible capital to deepen our presence in existing markets and enter new , underserved markets in a sustainable fashion . enormous care was taken to protect finca international’s poverty alleviation mission during the creation of fmh . structural formats and governance policies were put into place to ensure continued adherence to finca’s mission and client focus .
the majority owner of the finca network is finca international , a washington , d . c . - based not - for - profit organization , and its minority shareholders are the international finance corporation ( ifc ) , kfw , nederlandse financierings - maatschappij voor ontwikkelingslanden n . v . ( fmo ) , responsability , triple jump and triodos .
john hatch conceives village banking . his plan enables poor bolivian farmers with no collateral to access loans through a collective guarantee . in 1985 hatch establishes finca . finca is an acronym that stands for the foundation for international community assistance .
learn about new trends in international development , view current events in a new light , and immerse yourself in other cultures .
to get these essential products to customers , finca international seeks to build global network of sustainable and scalable social enterprises . microfinance is the original social enterprise and market - based solution to poverty . as a pioneer in microfinance , we knows what it takes to scale a social enterprise and serve the poor responsibly . finca international has two key initiatives in social enterprise :
finca launches five new programs in eurasia . her majesty queen rania al - abdullah of jordan inaugurates finca kosovo ; finca also launches programs in armenia , georgia , azerbaijan .
leading finca impact finance as chief executive officer is andrée simon , who brings more than 25 years of experience in economic development and inclusive financial services . ms . simon has been instrumental in finca’s evolution towards customer - centric digital financial services . she was chief operating officer and most recently the co - ceo of the finca microfinance holding company , the social investment partnership behind finca’s global network . previously , ms . simon was the president and coo of women for women international , and she has held various business and advisory roles in other organizations , including the center for strategic and international studies and women advancing microfinance international .
finca canada is a partner organization of finca international , the non - profit creator and majority owner of a network of innovative microfinance institutions serving nearly 2 million people on 5 continents with a double bottom line approach to financial sustainability and social impact .
finca helps clients save money with over $ 130 million in savings deposits . the same year finca launched in nigeria .
on january 1 , 2017 , fmh officially launched finca impact finance , the global services company of the finca network .
leading finca impact finance as chief executive officer is andrée simon , who brings more than 25 years of experience in economic development and inclusive financial services . ms . simon has been instrumental in finca ' s evolution towards customer - centric digital financial services . she was chief operating officer and most recently the co - ceo of the finca microfinance holding company , the social investment partnership behind finca ' s global network . previously , ms . simon was the president and coo of women for women international , and she has held various business and advisory roles in other organizations , including the center for strategic and international studies and women advancing microfinance international .
we had previously evaluated this organization , but have since determined that this charity ' s atypical business model can not be accurately captured in our current rating methodology . our removal of finca international from our site is neither a condemnation nor an endorsement of this charity . we reserve the right to reinstate a rating for finca international as soon as we identify a rating methodology that appropriately captures its business model .
finca launches five new programs in eurasia . her majesty queen rania al - abdullah of jordan inaugurates finca kosovo ; finca also launches programs in armenia , georgia , azerbaijan , and russia .
finca launches finca microfinance holding company llc . , the first - of - its - kind socially responsible investment partnership for microfinance .
on a recent finca talks , jacquie green , board member of finca canada , and leah miller , manager of donor engagement , discuss finca’s efforts to increase economic equality for women in haiti .
at the next finca talks , jacquie green and leah miller will discuss finca’s efforts to increase economic equality for women in haiti .
the foundation for international community assistance ( finca ) is a non - profit organisation that provides small loans and savings plans , insurance , payment transfers , and other services to help micro entrepreneurs to start and build enterprises .
finca afghanistan becomes the first microcredit program in the country . finca pioneers sharia - compliant products , which conform to islamic financial principles .
finca international is a 501 ( c ) 3 not - for - profit corporation registered in the state of new york . our revenue comes from the microfinance operations of the finca impact finance network as well as from grants and donations , all of which are used to fund our work .
john hatch conceives the idea of village banking . his plan enables poor bolivian farmers with no collateral to access loans through a collective guarantee . hatch establishes finca , an acronym that stands for the foundation for international community assistance .
with a laugh , he admitted that a friend and colleague from the international finance corp . recently referred to traditional mfis like finca as “the walking dead , ” while others “patronizingly refer to us as ‘legacy microfinance organizations . ’”
finca introduces “branchless banking . ” point - of - sale , atms and cell phone banking programs expand finca’s outreach and lower transaction costs .
servipagos has partnered with finca ecuador to provide third party agency banking services , allowing finca clients to make loan repayments at any servipagos agent .
finca launches its first program in africa . finca uganda opens in 1992 , proving that village banking can work in diverse geographic and cultural environments .
finca impact finance is a subsidiary of the finca microfinance holding company llc and supports a network of 20 community - based microfinance institutions and banks .
smartphones , credit scoring , new agent networks and big data could make microfinance professionals even more productive in years to come , according to rupert scofield , president and chief executive officer of finca international — one of the world’s most prominent mfis .
after acquiring majority shares in 2013 , finca microfinance bank opened its doors to the people of pakistan and also became part of the finca’s global family .
in guatemala , finca has partnered with tigo money so that finca clients can now make loan repayments using prepaid airtime at any authorized tigo money outlet .
finca international is the founder and majority - owner of 20 community - based microfinance institutions and banks across africa , eurasia , latin america , the middle east and south asia . through this global network , called finca impact finance , we are meeting the needs of previously unbanked clients . finca does so by providing access to financial services and enabling full participation in the economy for the world’s poor .
about finca impact finance finca impact finance is a network of 21 microfinance institutions and banks that provides socially responsible financial services and enables low - income individuals and communities to invest in the future . the majority owner of the network is finca international , a microfinance and social enterprise not - for - profit leader dedicated to creating economic inclusion for the poor . for more information , visit fincaimpact . com .
for seven consecutive years , charity navigator rated finca international as one of the most efficient and effective charities in operation , placing us in the top 1 % of rated charities . but with finca’s transition to a new business model in 2011 , charity navigator’s evaluation methods no longer provided an accurate assessment of our operations and impact .
oikocredit chose to partner with finca malawi because the mfi has an excellent geographical outreach , with a presence in all regions . thanks to its affiliation to finca international ( itself also an oikocredit partner ) finca malawi has good access to training and technical assistance . it has a strong brand reputation in malawi ' s microfinance market and a high - quality product portfolio . finally , the organization strongly focuses on client protection .
finca brand was launched in pakistan as finca microfinance bank ltd . in the same year , the bank started offering employee banking services and the running finance facility .
finca zambia partners with zanamaca to provide customised financial services to low income entrepreneurs and marketeers . on monday 20th november , 2017 , finca zambia and zambia national marketeers credit association ( zanamaca ) signed an mou that will see finca zambia provide marketeers
finca azerbaijan - a non - bank credit organization operates in azerbaijan since 1998 under the limited licence of central bank of azerbaijan republic . ©2018 finca azerbaijan privacy policy
finca canada announced today the naming of chloe wilde as the organization’s national ambassador .
including accounting , administration , advocacy , banking , fundraising , government relations , information technology , international relations , marketing , public relations , project management , research , writing , and more .
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finca impact finance’s network of 20 microfinance institutions and banks provides responsible financial services that enables low - income entrepreneurs and small business owners to invest in their future . the majority owner of the network is finca international , a microfinance and social enterprise not - for - profit leader dedicated to creating economic inclusion for the poor . for more information , visit urltoken
finca uganda ltd ( mdi ) is a microfinance deposit taking institution regulated by bank of uganda under the mdi act 2003 . ©2018 finca uganda legal disclaimer | privacy policy
finca is a leading international microfinance institution offering financial services and products to small scale businesses that have been turned down by traditional banks , so that these businesses can start , grow , and diversify with resulting increases in family income , nutrition , employment and well - being .
milestone : finca celebrates 25 years of providing financial services to low - income entrepreneurs .
finca microfinance bank limited is part of the finca impact finance network , a group of 20 microfinance and financial institutions that provides socially responsible financial services and enables low - income entrepreneurs and small business owners to invest in the future . ©2018 finca pakistan privacy policy
finca impact finance will continue to deliver on finca ' s 30 - year legacy of reaching underserved people with responsible financial services while increasingly leveraging digitization and mobile financial services .
craft silicon operates the breft switch behind finca’s agency banking network in drc and zambia .
, africa , and asia . finca lends primarily to women , in part because women
finca international is a 501 ( c ) ( 3 ) not - for - profit corporation headquartered in washington , dc and registered in the state of new york ( tax id : 13 - 3240109 ) . our revenue comes from the microfinance operations of finca impact finance , as well as from grants and donations , all of which are used to fund our work .
queen rania , who is a long - time supporter of microfinance and member of finca international’s board of directors , said ,
i know that creating opportunity in my region is not an option ; it is a necessity… [ and ] it is clear that programs like finca can help lay a firm foundation – for employment and empowerment and self confidence and hope .
donated funding comes from a variety of sources , including u . s . and international governmental development agencies , private foundations , corporations , service and religious organizations , and individual donors . back to top
about finca international finca is a leading international microfinance organization that provides financial services to the world ' s lowest - income entrepreneurs , helping them to create jobs , build assets and improve their standard of living . for more than twenty years , finca has been committed to breaking the cycle of poverty by providing community - based credit and savings opportunities . currently , finca operates with a distinctive , integrated business model that accepts donations and investment dollars , an approach that leverages available capital and promotes greater transparency , sustainability and higher standards of business practices . this has allowed finca to achieve balanced financial and social performance unmatched in its industry while opening the path to socio - economic development for the lowest - income citizens of the world . based in washington dc with local operations on four continents , serving more than 500 , 000 clients , finca ' s outreach is among the broadest and most comprehensive of today ' s microfinance networks .
there are exceptions . opportunity international , an oak brook , ill . - based mfi with operations in 30 countries , gives business training to its clients . in peru , the foundation for international community assistance ( finca ) , a washington , d . c . - based mfi , teaches its clients how to identify their customers , market their products , and perform basic accounting . a recent study found that finca clients who received business training increased their profits , reinvested more profits into their businesses , and maintained better records than did clients who did not receive the training . 12
academy - award winning actress natalie portman is named finca ambassador of hope and her work with finca raises the visibility of microfinance as one important tool for development in emerging economies .
finca is partnering with finja in pakistan to provide a full suite of mobile financial services .
finca started operations in nigeria as finca microfinance bank ltd in 2014 with headquarters in owerri imo state and has plans for strategic expansion to all southeastern states and southwest region of nigeria .
27 april 2017 , washington , dc – finca , the global institution that pioneered village bankingtm and helped prove the sustainable microfinance model as key to economic development , today announced the launch of finca impact finance . finca impact finance will continue to deliver on finca’s 30 - year legacy of reaching underserved people with responsible financial services while increasingly leveraging digitization and mobile financial services .
after 17 years of operation as micro - finance institution in the country , finca tanzania accomplished yet another milestone , which opens a whole new chapter of our operations as finca microfinance bank .
finca malawi was created in 1994 and has its base in malawi ' s commercial capital , blantyre . it is part of finca international ' s global network . the microfinance institution ( mfi ) provides financial services to more than 45 , 000 low - income small entrepreneurs in all districts in malawi via 20 branches . in addition to its famous village banking model , it also offers group and individual loans .
finca offers micro - insurance . its innovative program in uganda is later adopted by many mfis .
finca microfinance bank ltd nigeria is part of the finca impact finance network , a group of 21 microfinance and financial institutions that provides socially responsible financial services and enables low - income entrepreneurs and small business owners to invest in the future . ©2018 finca microfinance bank limited legal disclaimer | privacy policy
supporters of microfinance contend that small loans fuel economic self - sufficiency . they point to the billions of dollars that microfinance institutions ( mfis ) such as grameen bank , acción international , and opportunity international ( oi ) have given to millions of small - time , impoverished entrepreneurs . they cite research showing that microloans increase household consumption , 1 give women more clout in their communities , encourage the use of contraceptives , and improve the nutrition of young children . 2
a pilot program using tablets is enabling finca to collect client household and geographic data quickly and accurately .
we have over 70 finca express agents spread across the country that offer banking services within the communities .
“i haven’t donated to finca since i saw a financial statement several years ago . finca’s administration appears to be quite fat . i’d prefer to have my donations more efficiently leveraged in a leaner organization . ”
finca defines a social enterprise as a revenue - generating business that provides goods or services intended to achieve positive social , community economic and / or environmental outcomes consistent with finca’s mission objectives . back to top
jeff is a global development reporter for devex . based in washington , dc , he covers multilateral affairs , u . s . aid and international development trends . he has worked with human rights organizations in both senegal and the united states , and prior to joining devex worked as a production assistant at national public radio . he holds a master ' s degree in journalism from columbia university and a bachelor’s degree in international relations and french from the university of rochester .
in 2012 , finca launched agency banking in the democratic republic of congo . this innovative method uses local merchants and shopkeepers in areas where finca doesn’t have a presence to provide banking services to remote clients . the agents are equipped with portable devices that connect to finca’s bank network and bank accounts through biometric fingerprints .
other women on this list are committed to helping women around the globe . oscar - winning actress natalie portman is an active supporter of finca international ( the foundation for international community assistance ) , which provides microloans to women in developing countries . mariska hargitay of law & order : special victims unit fame founded the joyful heart foundation to help the survivors of domestic violence . and geena davis launched the geena davis institute on gender in media in 2007 , aiming to increase the number and variety of female characters aimed at children and to reduce the stereotyping of women in the media .
finca calculates the 93 - percent figure by counting all costs incurred by the overseas units . finca’s audited financial statements are prepared according to international financial standards , which do not require the spending breakdowns required by u . s . standards , making the 93 - percent figure hard to verify . but the charity says its program spending is high because its loan portfolio increased by 124 percent , to $ 626 . 5 - million , from 2007 to 2012 .
finca established its presence in zambia as a non - profit making organization with only two outlets in lusaka .
finca canada announced that asset management firm deetken impact will provide a usd 1 million loan to finca haiti sa for on - lending to individual , micro , small - and medium - sized businesses ( msmes ) .
“learn how 93 cents of every dollar donated to finca directly supports our affiliate programs across our network . ”
finca microfinance bank ltd has a strategic diverse mix of goal oriented and performance driven management team and employees .
finca zambia ltd is a microfinance deposit taking institution regulated by the bank of zambia under the banking and financial services ( microfinance ) regulations , 2006 . finca zambia is a subsidiary of finca microfinance holding company llc ( fmh ) , and part of a network of 21 microfinance institutions and banks that provide socially responsible financial services that enable low - income individuals and communities to invest in the future . ©2018 finca zambia legal disclaimer | privacy policy
finca uganda is part of the finca impact finance network , a group of 20 microfinance and financial institutions that provides socially responsible financial services and enables low - income entrepreneurs and small business owners to invest in the future .
with headquarters in washington , dc , our goal at finca international is to provide low - income people around the world the tools they need to succeed . finca’s programs benefit millions of people across five continents . we do that by offering responsible financial services , such as small loans or savings accounts ; by reaching people in remote communities using technology like mobile phones and tablets ; and by providing access to life - enhancing products , like solar home systems and clean cookstoves .
finca bank georgia is part of the finca impact finance network , a group of 21 microfinance and financial institutions that provides socially responsible financial services and enables low - income entrepreneurs and small business owners to invest in the future . finca bank is a joint - stock company ( r / n . : 205235262 ) , operating under the laws of georgia and in accordance with august 6 , 2013 , # 590 decree of the national bank of georgia . ©2015 finca bank georgia ©2018 finca bank georgia legal notice | customer protection | usa patriot act | bonds prospectus
finca launches the village banking campaign , a commitment to provide financial services to one million clients living in poverty .
finca launches a new subsidiary in jordan . her majesty queen rania al - abdullah of jordan inaugurates the program .
“we’re competing against the whole world , ” the finca chief said . “i mean everybody is doing microfinance . ”
in 2008 , finca began spinning off some of its overseas entities , which are now separate international groups . under irs rules , those programs are no longer captured on the form 990 . however , the charity reports on the 990 the fundraising and administrative work that it does for its affiliates , which it says makes its overhead appear higher than it actually is . partly for that reason , charity navigator downgraded finca’s previous four - star rating , prompting the two to part ways .
finca international is grateful to all the corporate , foundation , bilateral , multilateral and other partners who support our work on long - range and large - scale initiatives . our partners lend significant financial support , as well as technology and know - how . they help us enter new markets , deliver new products and services , and improve the efficiency and effectiveness of our operations .
finca international ' s mission is to provide financial services to the world ' s lowest - income entrepreneurs so they can create jobs , build assets and improve their standard of living . finca currently serves nearly two million clients in 23 countries and both our client and donor base is growing every day . financial inclusion is a crucial element in the fight against poverty and finca is working to expand access to formal financial services for those who have been systematically excluded . women are by far the most commonly excluded group and yet also the group that has the potential to benefit the most from the increased access . therefore , finca is leading the charge to give hardworking female entrepreneurs the opportunities they deserve . in this way , finca is working to sustainably improve the quality of life for millions of people around the world from the bottom up .
carlos , a finca credit officer in guatemala , reviews loan information using a digital tablet with his client , engracia .
rashid ali , a finca microfinance client in pakistan , used loans to grow his factory and care for his children .
and helped prove the sustainable microfinance model as key to economic development , today announced the launch of finca impact finance .
first access provides enterprise credit scoring for finca tanzania to automate credit decisioning using demographic and savings / repayment behavioral data .
software group is finca’s technology partner in africa in implementing digital field automation with tablets as well as agency banking services .
finca uganda acquired and opened its own head offices in a magnificent building located on plot 11 , acacia avenue , kampala .
finca’s publications are a great way to learn more about our work , our supporters and our leadership in the microfinance community .
paretix provides data - based mobile phone credit scoring solutions that drive finca’s mobile lending products in drc , malawi and tanzania .
finca is a pioneer in developing market - based solutions to build economically sustainable communities and enable full participation in the economy .
as of 2014 , finca international is serving a client base of nearly two million in 23 countries around the world . in 2014 alone there was a 66 % increase in client savings to over $ 130 . 2 million as well as a 10 % increase in the total value of loans disbursed reaching $ 1 . 6 billion . in 2014 finca launched the
bright light
social enterprise campaign in uganda , which provides additionally , the expansion of finca plus initiatives , which allow clients access to insurance , health benefits , small energy products , etc . , will not only allow finca to progress and advance in client outreach but will expand the conceptual design of microfinance . as an organization , we continue to work each day to serve our mission of helping the poor help themselves .
dar es salaam , tanzania ( 31 july 2013 ) – the mastercard foundation and finca international today announced a $ 12 . 7 million partnership that will allow the region’s financially underserved people to more easily access savings products and services through the development and deployment of new technologies . by making access to savings accounts and services more readily available , it is anticipated that the number of people creating their own financial safety nets will increase dramatically in coming years . the partnership also supports expansion of finca’s innovative social performance management system , focused on ensuring that finca’s operations , products and services are both responsive to client needs and reach the clients who can receive the most benefit .
finca serves clients in 20 countries around the world . we value the diversity of our staff at headquarters and in the field .
finca’s mission is to alleviate poverty through lasting solutions that help people build assets , create jobs and raise their standard of living .
finca celebrated its 15th anniversary of providing socially responsible financial services to low - income entrepreneurs in the dr congo and their communities .
finca uganda celebrated 20 years of providing life - changing financial services . in the same year it also launched atm services using the finca access card to allow customers 24 / 7 access to their money through a multiplicity of interswitch member banks’ atms across the country .
whether you’re a seasoned professional with years of experience or just beginning to shape your career , you’ll find challenging and rewarding employment opportunities with finca . we pride ourselves on creating an environment where career paths are designed to take advantage of your learned and innate skills ; where becoming a leader is built into your job description ; and where you’ll find yourself working with some of the most talented financial services professionals in the international development workforce .
in july 2013 , mastercard foundation and finca canada entered into a 4 . 5 year , $ 12 . 7 million partnership to significantly scale up financial inclusion in malawi , tanzania and zambia . during this period , finca will establish new delivery channels to deliver products to rural and underserved communities . in addition , support will allow finca to provide training that helps staff shift their orientation from credit - centric products to a broader range of financial services including savings , and further embed social performance metrics into every aspect of finca’s operations .
finca uganda started its operations in jinja district in 1992 as a microfinance institution . in 2004 , finca uganda was licensed as a microfinance deposit taking institution ( mdi ) thus becoming the first mdi to be regulated by bank of uganda under the mdi act of 2003 .
social service impact by leveraging the finca network to provide support in the areas of education , health , nutrition and financial literacy training .
with this new model , finca remains at the forefront of financial inclusion . we are better positioned to deliver impactful financial services to increasingly large numbers of low - income clients . we are also better able to weather economic shocks , ensuring finca’s financial health and mission .
finca impact finance ' s network of 21 microfinance banks and institutions are redefining how low - income people access finance . clients are increasingly bypassing traditional access points utilizing emerging technology and partnerships , including mobile and agency banking . in finca impact finance ' s subsidiary in the
president bill clinton and first lady hillary clinton visit finca uganda and show strong support for microfinance as one important and critical tool for development .
finca provides state - of - the - art deposit and payment solutions including micro - credit facilities aimed at improving livelihoods in the country .
finca uganda started its operations as a microfinance institution and became popular for its village banking methodology where customers would access loans through group membership .
over 22 years with finca , hatch served as president , and as chief of party for programs in el salvador and guatemala ; he retired as finca’s director of research in 2006 . today , the organization he founded reaches over 1 . 6 million people in 20 countries with small loans , insurance , savings programs , and other services . hatch continues as a finca board member , advisor , speaker , lecturer , and fundraiser . he is continuing his research on the impact of village banking and is active in finca’s annual student symposium and research awards competition .
finca haiti has partnered with digicel to use the moncash wallet as a channel through which customers can make loan repayments and receive loan disbursements .
according to our survey , finca loans enable women to increase the employment in their enterprises by 36 percent , versus 26 percent for men .
at finca , you’ll join a select group of professionals who believe that a hand - up , not a hand - out , is the best way to create lasting economic change in the world’s poorest communities . our international network of 20 subsidiaries on five continents with operations throughout africa , eurasia , latin america and the middle east - south asia regions offers an abundance of career options that span a wide array of disciplines , with endless opportunities to learn and grow .
thanks to this partnership , finca aims to reach over 500 , 000 previously excluded savers and nearly 300 , 000 borrowers in malawi , tanzania , and zambia by 2017 . the mastercard foundation also supports finca through the ifc and the microlead and youthstart programs , managed by the uncdf .
on january 1 , 2017 , fmh officially launched finca impact finance , the global services company of the finca network , a group of 20 microfinance and financial institutions , that provides socially responsible financial services and enables low - income entrepreneurs and small business owners to invest in the future .
invest in visions gmbh kfw development bank mfx solutions microfinance enhancement facility sa , sicav - sif ( mef ) netherlands development finance company n . v . ( fmo ) oikocredit international overseas private investment corporation ( opic ) responsability investments ag symbiotics s . a . triple jump b . v . triodos investment management b . v .
finca ventures : an impact investing initiative that provides patient capital and technical assistance to early - stage social enterprises . through finca ventures , we are supporting innovative solutions in energy , water / sanitation / hygiene ( wash ) , education , health , agriculture and financial technology ( fintech ) .
three finca subsidiaries become regulated financial institutions . as financial institutions , subsidiaries in ecuador and uganda can offer clients more services , including savings accounts .
finca tanzania becomes the first micro - finance institution licensed and regulated by the bank of tanzania and begins offering savings accounts with additional banking services .
in 2017 , finca uganda marks 25 years of providing relevant financial services to her over 200 , 000 clients hence empowering and impacting communities positively .
finca takes an integrated approach to financial inclusion through its unique structure and the comprehensive way in which resources are leveraged to best serve our clients .
as is our mission worldwide , finca microfinance bank primarily serves the country’s low - income entrepreneurs and aims to ultimately help them improve their standard of living . finca microfinance bank stems from an idea conceived over 25 years ago and continues to grow and invent means to effectively reach a wider client base .
finca zambia became a microfinance deposit institution after meeting the central bank ' s requirements and successfully launched a range of savings products to the general public .
finca impact finance’s network of 20 community - based microfinance institutions and banks offers responsible and impactful financial services to low - income clients . with 30 years of experience and a mostly local staff of over 10 , 000 , finca impact finance delivers a double bottom line of social impact and financial sustainability .
finca’s mission is to provide financial services to the world’s lowest - income entrepreneurs so they can create jobs build assets and improve their standard of living .
announcement of the campaign was made during an event at new york university in the presence of her majesty queen rania al - abdullah , who co - chairs the campaign and its prestigious steering committee with finca international ambassador of hope natalie portman . his royal highnesses prince zeid bin raad , jordan ' s ambassador to the united states , and princess sara zeid were also in attendance , along with a number of students from public and private universities in the new york area who are affiliated with microfinance .
had done , mr zeitinger became convinced that it would be cheaper and faster to start financial institutions afresh . backed by investment from various development agencies such as the world bank ' s international finance corporation , he started out in bosnia and hercegovina in 1996 and has since founded banks in 14 other countries and taken a controlling position in four others .
village banking campaign co - chair natalie portman has produced a documentary about finca’s work in mexico with sundance film festival grand jury prize - winning documentary director juan carlos rulfo . finca will premier the documentary and other content on the village banking campaign’s myspace page , found at www . myspace / villagebanking . com
finca launches its first village banking programs in latin america . el salvador is first in 1985 ; mexico , honduras , guatemala and haiti follow in 1989 .
consistent with finca’s mission , this initiative will target low - income and unbanked individuals in malawi , tanzania , and zambia with a focus on women . on a consolidated basis , currently 47 % of finca clients in the region live on less than $ 2 . 50 per day , and 60 % are women .
the first finca operations on the continent were in uganda in 1992 . the first village bank group created in uganda in 1992 by our global president and ceo , mr . rupert scofield , is still running and its members are happy clients of finca . since then finca africa has expanded its outreach to malawi ( 1994 ) , tanzania ( 1998 ) , zambia ( 2001 ) and the democratic republic of congo ( 2003 ) . now we are in nigeria ( 2014 ) .
finca endorses the smart campaign . the smart campaign is a global campaign committed to embedding client protection practices into the institutional culture and operations of the microfinance industry .
finca zambia ' s positive impact on its clients ' businesses and social welfare has seen it become the biggest microfinance institution in zambia in both clientele and portfolio .
finca offers savings , loans and money transfer services to its clients across its 27 branches countrywide . it also has more than 500 employees and is still growing .
finca is partnering with like - minded , innovative companies to develop and deliver responsible products and services that are customer - centric , efficient , competitive and profitable .
finca impact finance is leveraging the power of technology to put financial power in the hands or around the corner from our customers , no matter where they live .
finca international was founded in 1984 on a radical notion : giving small loans to the poor has the power to transform entire communities in a sustainable way . after impacting tens of millions of lives with responsible financial services , we are widening our focus to catalyze further economic growth and alleviate poverty in underserved markets around the world . we remain boldly committed to market - based solutions , and are supporting the rise of social enterprises delivering basic service and financial innovation to help low - income families and communities achieve a better standard of living .
since its inception in zambia , finca has expanded its branch network and now has 14 fully fledged branches across the country . in addition , finca zambia has equally increased its outreach to over 45 , 000 clients in both urban and rural parts of zambia and has the largest workforce of over 450 staff in the microfinance industry .
we have more than 30 years of experience trusting the poor . finca has shown that access to basic financial resources can transform lives , strengthen communities and alleviate poverty .
finca canada’s mission is to alleviate poverty through lasting solutions that help people – women in particular – build assets , create jobs , and raise their standard of living .
finca impact finance’s network of 20 community - based microfinance institutions and banks fosters financial inclusion by offering innovative , responsible and impactful financial services to low - income clients .
finca’s vision is to be a global microfinance network collectively serving more low - income entrepreneurs than any other microfinance institution while operating on commercial principles of performance and sustainability .
for over 30 years , finca has implemented our lending model and reached millions of small and micro - entrepreneurs with finance , education and a blueprint for unlocking productive capacities .
finca’s chief executive called it a “revolution” and said that no one in the microfinance industry has really figured out a winning business model that responds to the mobile phone breakthrough .
a joint report from mastercard foundation and the ifc explores the impact of digital financial services africa , highlighting the success of finca’s agency banking in the dr congo and zambia .
a partnership with mastercard foundation has enabled finca to go digital and build a customer - centric organization , resulting in a big leap forward for the delivery of financial services .
finca’s newsletters bring our clients’ stories to life while informing readers about exciting news and information from the field that keeps finca’s global operations at the forefront of the microfinance industry . in them , you’ll find news about public and private partnerships that help us expand outreach , and that support research and development of new products and services to meet our clients’ needs . and you’ll read about the generous and dedicated support we receive from donors and volunteers who help finca provide a hand up to individuals , communities and entire local economies .
portman has since visited finca sites elsewhere in the world and has talked about microfinance at harvard , stanford , new york university and elsewhere , not to mention in dozens of articles in women’s magazines . she has helped produce a cd , “big change : songs for finca , ” and recently worked on a documentary on the organization’s work . she is the chairwoman ( with queen rania ) of finca’s village banking call to action campaign , which seeks to serve one million clients through 100 , 000 village banks by 2010 .
finca uganda was licensed as a micro - finance deposit taking institution ( mdi ) thus becoming the first mdi to be regulated by bank of uganda under the mdi act 2003 .
according to finca president and ceo rupert scofield , finca’s business model has reached a stage to radically expand its footprint and product offerings in the sub - saharan africa , with the goal of bringing a wide range of financial services to over 500 , 000 previously excluded savers and nearly 300 , 000 borrowers in malawi , tanzania , and zambia by 2017 . the partnership allows finca to capitalize on technological advancements in the delivery of financial services , to making the services more widely accessible at anticipated lower costs , and with greater safety .
finca is supported by over 50 diverse financial partners across the globe , including impact investment funds , microfinance investment vehicles , national and supranational development institutions , and multinational commercial banks .
finca and mastercard foundation share the same values and belief that people have the potential to transform their lives if given the opportunity . by increasing access to high quality microfinance services in sub - saharan africa , finca and mastercard foundation will enable low - income individuals and households to realize their potential , and improve the lives of their families , and their communities .
finca is expanding access to financial services , especially to low - income women and men , through mobile phones . this helps clients to save time and make secure transactions from anywhere .
finca ' s mission is to provide financial services to the world ' s lowest - income entrepreneurs so they can create jobs , build assets , and improve their standard of living .
finca’s network of 20 community - based microfinance institutions and banks offers responsible and affordable loan and saving products that empower low income women and men to take control of their financial future .
with its microfinance tools designed to serve the “unbanked , ” finca has shown that access to responsible financial services can bridge the economic gap and create economic sustainability and self - reliance .
finca and the mastercard foundation share the same values and belief that people have the potential to transform their lives if given the opportunity . by increasing access to high quality microfinance services in sub - saharan africa , finca and the mastercard foundation will enable low - income individuals and households to realize their potential , and improve the lives of their families , and their communities .
but finca and others are experimenting with some innovative ideas to keep their organizations afloat . for instance , finca is pushing forward biometric fingerprint scanning to allow more borrowers without national ids to access their accounts and therefore receive and repay loans . they are also working with data and credit scoring companies on larger loans in order to verify a borrower ' s capacity to pay .
finca impact finance is a catalyst for financial inclusion , with its network of 20 microfinance institutions and banks providing responsible financial services that enable low - income entrepreneurs and small business owners to invest in their futures . with 30 years of experience and a mostly - local staff of over 10 , 000 , finca delivers a double bottom line of social impact and financial sustainability .
finca malawi will use oikocredit ' s loan for on - lending to new and existing borrowers , 60 % of whom are women working in various sectors including trade , services and agriculture .
today , finca impact finance is continuing that important mission through socially - responsible investment ( sri ) , setting the gold standard for responsible financial services to the mass market in developing countries .
finca africa currently provides financial services to more than 295 , 000 borrowers and nearly 417 , 000 savers living in the democratic republic of congo , malawi , tanzania , uganda and zambia .
if traditional players can leverage the technology and find the right partners , the finca chief believes there is potential to “grow dramatically faster” than they did using their “people - based” business model .
finca impact finance’s network of 21 microfinance banks and institutions are redefining how low - income people access finance . clients are increasingly bypassing traditional access points utilizing emerging technology and partnerships , including mobile and agency banking . in finca impact finance’s subsidiary in the democratic republic of congo , 75 % of transactions are now taking place outside traditional branches , saving clients valuable time and money .
for fiscal year 2016 , 95 % of every dollar spent by finca went to support our programs , 4 % went to administrative expenses and 1 % went to fundraising . back to top
finca has created its own specific , comprehensive tool for measuring social impact , by which it is able to assess outreach and measure change and improvements , over time . finca examines the following indicators over time : expanded access to financial services , primarily among underserved , low - income people and communities ; increased income and improved living standards ; empowering clients and helping them to achieve their personal aspirations ; and acting responsibly and equitably towards all stakeholders and the communities of which we are a part . within our annual reports finca identifies certain concrete indicators including total borrowers , gross - portfolio size , total amount disbursed , portfolio at risk > 30 days , total savers , and total deposits from clients . however , more importantly finca measures its impact through client experiences and life improvements . as one of the founders of the smart campaign , a global initiative promoting the adoption of high ethical standards in the treatment of client in the microfinance industry , finca has a strong commitment to client protection best practices . client success stories , the demonstration of job creation , and community improvement allow finca and its donor base to see the impact firsthand .