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In this section |
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Case Study #6: ACCION and PADME
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An informal haircutting business in action. |
As discussed in the ‘Microcredit’ section (link), ACCION International is one of the founders of modern microfinance. Now, it has expanded beyond providing microfinance in Latin America and also provides assistance to microfinance institutions in other parts of the world, including the Association Pour La Promotion Et L’Appui Au Development De Micro-Enterprises (PADME) in the African country of Benin. Partnerships such as these have allowed microentrepreneurs such as Hortense Zevonnou of Porto Novo, Benin, to start their own businesses with loans.
Zevonnou was interested in becoming a hairdresser, and studied the trade ofor several months. Unfortunately, she had no money to rent building space or invest in supplies. After receiving a loan from PADME, she established her own hairdressing salon. Now, she has an average of ten customers per day, and makes $40 per month, up from $13 a month before she started her business.
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Back to Economic Case Studies Main Page
Sources
ACCION: History
ACCION: Meet our Borrowers
ACCION: Mission
MicroFinance Network: PADME
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