Juju in Lagos

Favorite story of the week...

 

published in Business Day, today

Voyeurism in the news

Voyeurism and exhibitionism hit the news in different ways recently. One way struck me when I was scanning the BBC website today (see pic). I don't know if this widget was intentional or not but it sure came out funny/strange. How twisted to you have to be to (a) want to watch somebody get electrocuted (b) electrocute somebody (c) be electrocuted on live TV. The latter made me think of a piece on psychopathy and reward, which I guess we all knew about. But even so - aren't all those seeking recognition on Big Brother & Co. just psychopaths in their own little way?

"Global crisis not affecting microfinance"

Its quite astonishing to still see articles about the lacking impact of the financial meltdown on microfinance. I caught the latest one in my blog reader today.

Quite in contrast, there are clear and tangible indications that it is affecting the industry. We dont need and indepth of grassroot impact to show that it does. In the latest expample, CDC is, after government request, diverting Pounds 300mn of its Pounds 650mn investment budget for this year to the IFC-led Global Trade Liquidty Programme, which is targeted at trade facilitation worldwide (not just north-south). The result for CDC is a cut in the amount of money that can be spent on straight emerging market equity, including microfinance. Since 2004 CDC has committed US$84m to microfinance (Annual Report 2008).

Less money, obviously, means less investment in the future. If this is replicated accross development finance institutions (as I know it is) and private investors (who are de-risking portfolio) then we can expect to see much lower growth figures going forward.