The 1010 Project | Breaking the cycle of poverty through business education » What We’re Reading

The 1010 Project Annual Report – 2010

Tim Brauhn — Fri, 08 Apr 2011 17:51:22 +0000

Our 2010 Annual Report is ready for the reading. Please, share it widely. Inside, you’ll find loads of information about the creation of The Global Entrepreneur Academy, our Service Learning Experiences, inspiring stories from our long-time partners, and (of course) our financial health. It was an amazing year, with vast changes in our programs and great events here in Colorado with our friends.

Click here to download the PDF version of the Annual Report

You made all of this possible, so from the deepest part of our hearts, we say “Asante sana!” and thank you very much!

Business and Civil Sectors work together – Africa Reboots

Brian Rants — Mon, 19 Apr 2010 19:56:52 +0000

Entrepreneurs know that even a good relationship with a bad government stymies foreign investment; civil society knows a resource-rich country can have more rather than fewer problems, unless corruption is tackled.

The 1010 Project is at the forefront of a focus in business and community development to bring the business and civil sectors together. Bono wrote an article which is this week’s installment of “What We’re Reading.”

The article features several Kenyan activists, including John Githongo. Continue reading at: Op-Ed Guest Columnist – Africa Reboots – NYTimes.com.

* A reminder that “What We’re Reading” isn’t an endorsement of an article’s positions, but rather its value in the discussion.

Kenya: Micro-Credit Firms Must Help the Poor

Brian Rants — Wed, 07 Apr 2010 17:49:03 +0000

As this Kenyan editorial points out, micro-finance organizations have demonstrated that “lending to the poorest of the poor is not just fashionable, charity, or a moral statement, but also economically viable.”

However, they must stay true to their calling to help the poor like our partner, LOMORO. Having visited Michael Nyangi’s office in Kibera, and visited those who have borrowed capital, I witnessed firsthand the power of business development at work.

From the article:

Kenya, like many other developing countries, is littered with micro-finance institutions that have abandoned their original calling.

Many of them have become part of the formal banking sector, obsessed with the competition for profits and expansion rather than in the provision of affordable credit to the unbanked social classes.

Many of them are micro-credit institutions only in name because they are no different from big banks in the interest rates they charge, the class of customers they seek out and the requirements they impose before considering credit.

via allAfrica.com: Kenya: Micro-Credit Firms Must Help the Poor.

“Unleash the entrepreneurship of the world’s poorest citizens”

Brian Rants — Tue, 09 Mar 2010 20:58:53 +0000

From time to time we like to draw attention to articles that add important perspective to the discussions of justice and poverty alleviation. This is not an endorsement of the viewpoints, but an endorsement of the importance of these discussions

The Wall Street Journal recently asked eight prominent philanthropists and NGO executives how they would spend $10 billion to achieve the biggest and longest-lasting impact on the world’s problems. All eight came up with great ideas, but the clear winner in my opinion came from leading Swedish businessman and philanthropist Percy Barnevik, who said he would use the money to unleash the entrepreneurship of the world’s poorest citizens.

My experience in Africa over the past 27 years has convinced me that this is the only way for people to break out of poverty. People are poor because they have no sustainable income. It’s as simple as that.

via allAfrica.com: Africa: Create Jobs in Continent, and All Else Will Follow.