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Founder of Kenyan microfinance organization raises awareness as part of employee speaker series

Oct 01, 2009

Ingrid Munro, the founder of Jamii Bora, the largest microfinance organization in Kenya, spoke at J.P. Morgan on September 21, 2009 with Sam Daley-Harris, Founder and Director of the Microcredit Summit Campaign, on how to effectively empower the very poor. 

Ingrid has helped revolutionize microfinance by focusing on the poorest of the poor. The organization she founded, Jamii Bora, provides the very poor with loans to start businesses and buy homes, as well as help obtain health and life insurance and business education. Over the past 10 years, her organization has made a cumulative $36.2 million in loans for Kenya's urban and rural poor. 

Munro's appearance was part of the Investment Bank's speaker series focused on issues in the social sector.  Previous speakers during the past year have included Muhammad Yunus, founder of Grameen Bank and a Nobel Peace Prize winner, and Jacqueline Novogratz, CEO of Acumen Fund. 

Jamii Bora Trust began in 1999 and since then, a once-small savings matching program, has grown into a nationwide microfinance institution.  Jamii Bora serves 247,000 members out of 110 branches in 200 outlets in Kenya.  "Our mission is to assist our members to get out of poverty," she said.  "We know that our members can change their lives and microfinance is the base of the ladder to lift them out of poverty." 

"It's not what you were," she said, "it's about where you're going.  I believe that not even the sky is the limit.  Our members can go to any height." 

While microfinance lending remains Jamii Bora's focus, it takes a comprehensive approach to serving the social service needs of its members, including providing medical and disaster insurance and an alcohol and drug abuse program.  In another novel approach, Jamii Bora is building a 2,000-home village, with business space and a new school. 

She urged the audience to take an interest in microfinance and support its objectives, saying, "It's about investing in the people of the world." 

Watch the video of Ingrid Munro's visit.