Access to loans and credit facilities has been, and still is, a major problem for a large portion of the South African society. The problem is particularly significant in the disadvantaged and rural areas where the majority of people do not have access to formal banking services. Against this background the government further exacerbated the problem by prescribing legislation, which is thought to protect borrowers from perceived usurious rates. This particular law in contention is the Usury Act (No.73 of 1968). The Act imposes interest rate ceilings on loan finance provided by money lending institutions. The objective of this study was to examine the impact that interest rate ceilings will have on the micro lending market. This was done through looking at a case study based on information obtained from a micro lender. Firstly the study undertook the financial impact analysis on a micro lending business to determine the effect of a change in the maximum interest rate that could be charged by the micro lenders. This process was conducted to help understand the costs, revenues and profits of a micro lending business. The data, which were based on the micro lender’s financial statements, were analysed and evaluated on the basis that the statements reflect the financial position of the micro lender charging an interest rate not exceeding 30 per cent. Calculations were then made to reflect their financial position in the event of them being allowed to charge a maximum rate of 20 per cent, 12.08 per cent and 10 per cent per month. The results showed that micro lenders could make a profit when charging rates of between 30 and 20 per cent. However when the interest rate is reduced to 10 per cent the micro lender start to lose. The bottom line for micro lenders is greatly influenced by their turnover, as large portions of their costs are fixed. Therefore one micro lender might earn economic profits at 12.08 per cent per month, while another might just break-even. Simple and multiple regression techniques were used to analyse the data pertinent to the study. The analyses were performed to show the impact, which ceilings on the interest rate have on the market structure, company size and on the characteristics of loan services. The results were evaluated according to their significance. The findings showed that interest rate ceilings can have positive significant effect on risk and the market structure. Based on the findings of both methods applied to this study, it is evident that the interest rate ceilings could act as a constraint to the provision of credit to low-income earners and operators of small and micro enterprises. The micro lenders offer small amounts of credit to a large number of people, therefore interest rate ceilings may not only ration consumers out of the legal market, but also drive smaller lenders from the market and thus diminish competition. / Dissertation (MSc (Agricultural Economics))--University of Pretoria, 2007. / Agricultural Economics, Extension and Rural Development / unrestricted

No description available.

The following study is about business angels financing small business start-ups. It explores the aspect of starting up an entrepreneurial venture in which the entrepreneur seeks to secure start-up finance from lenders, raising the various issues that are known to characterise this engagement between the entrepreneur and the lender. Using the phenomenological paradigm, the study seeks to determine the awareness of small scale financing by entrepreneurs in South Africa, to determine the most commonly used source of start-up business funding in South Africa, to assess the extent to which business angel financing could be used to finance businesses in South Africa and to determine the factors impacting the use of business angel financing in South Africa. From these objectives, the study will also seek to determine the extent to which business angel networks could facilitate the financing of business start-ups. Small businesses invariably come up in different policy spheres as the main avenues to social and economic construction across national and regional lines. The importance of a successful business start up to a growing economy should not be underestimated. In line with this is the particular factor of gaining access to start up capital, which continues to emerge as a leading contributor to the success or failure of business start ups. Studies continue to verify that the most common challenge faced by most emerging entrepreneurs is start-up capital, either in the lack of this capital, the unfavourable conditions surrounding its availability, the lack of assets to serve as collateral for its use or the ambiguous flow of crucial information between lenders and providers of finance in the funding relationship (Abor and Biekpe, 2006: 69;Hernandez-Trillo, Pagan and Paxton, 2005: 435, ISPESE, 2005: 7, CDE, 2004: 5; Musengi 2003: 11). Roger Sorheim (2005: 179) refers to business angels as private individuals who offer risk capital to unlisted companies that are struggling to obtain start up capital to finance their business ideas. Business angels are further defined as high net-worth bearers of substantial private capital who predominantly invest in the early stage of high risk high potential return business ventures with a positive further growth potential. Business angel finance is typically a ‘once-off’ early stage form of small firm financing compared to the more frequent later stage venture capitalist funding. Studies show that business angels represent an underutilised wealth creation mechanism when it comes to small firm start-ups as most business angels contribute expertise in addition to finance to the start-ups they get involved in. This brings valuable business insight to the commercialisation of a good business idea. The business angel network exposes a range of potentially viable business prospects to willing investors by facilitating the flow of information about entrepreneurs and their businesses, thereby eliminating ambiguity, information asymmetry and transaction costs (Aernoudt and Erikson, 2002: 178; Van Osnabrugge and Robinson, 2000:374; Macht, 2006:1; Ehlrich, De Noble, Moore and Weaver, 1994:70; Sorheim, 2005:179). To achieve a holistic approach to a phenomenon which appears to be relatively new in South African business circles, the study will follow a qualitative approach in which two categories of populations will be used, one of small business operators and the other of business angels in South Africa. In the study, 20 small business operators and five business angels in Grahamstown will be approached using the convenience and snowballing sampling methods respectively. Face-to-face semi-structured interviews will be used as a data collection method and content analysis will be used as a data analysis tool (Collis and Hussey, 2003:156, Driver, Wood, Segal and Herrington, 2001:32, National Small Business Act ). There has been very limited research on business angels in the South African context, therefore the study would significantly contribute in entrepreneurship, government and small business development circles as it brings about attention to what the researcher predicts is an underutilised business start-up financing option.

This study examines the nature and characteristics of the informal sector within the Makana municipal area in South Africa. The focus is on the socio-economic characteristics of the informal sector operatives; operational characteristics of the microenterprises that we studied, such as longevity, employment generation, growth potential, and linkages of the informal sector with the formal sector of the economy. Extensive studies on the informal sector have been conducted in many parts of the world relative to South Africa. The key finding in most of these researches is that the informal sector is highly heterogeneous. These studies provide us with the parameters for analysing the nature and characteristics of the informal sector in the Makana Municipality. The results of the thesis show that the majority of people in Makana Municipality join the informal sector as a result of such push factors as unemployment, retrenchment and the need to survive. While there is evidence of lucrative activities amongst the surveyed enterprises, most of the informal sector micro-enterprises are concentrated in the lower segment of the sector where earnings are very low. Results from this study reveal that employment generation (beyond owner-operator) is very limited. The co-existence of a small number of remunerative activities alongside a large proportion of relatively unproductive activities is not only a sign of restricted economic potential but, most importantly, it points to the heterogeneous nature of the informal sector. Precisely, the informal sector encompasses activities which are different in terms of asset holdings, earnings, etc. From the study, it is also evident that the informal sector micro-enterprises play a crucial role in distributing goods produced in the formal sector. Evidence indicates that these micro-enterprises are Iinked to the formal sector. The idea of a 'second economy' devoid of linkages with the 'first economy' is of limited heuristic value. Thus, the 'second economy' is an extension of the first.

La protección de datos personales consiste en resguardar la información de las personas en todo su ciclo de vida dentro de una entidad y emplearla únicamente para los fines por los cuales fueron proporcionados. Todas las empresas se convierten en titulares de bancos de datos personales al poseer información de sus clientes, colaboradores y/o proveedores, ya sea empleando tecnologías de información para su tratamiento, o documentos y almacenes físicos. La aplicación de las medidas de seguridad adecuadas para la protección de datos personales es de gran importancia en las organizaciones, en especial, en uno de los sectores de mayor crecimiento como es el microfinanciero. De lo contrario, pone en riesgo los derechos y libertades de las personas, además de recibir costosas sanciones económicas. En la presente tesis, se propone un modelo de referencia que brinda un conjunto de medidas legales, organizativas y técnicas para proteger los datos personales custodiados por una entidad microfinanciera, garantizando su adecuado tratamiento a lo largo de su ciclo de vida. Estas medidas están basadas en la Ley 29733 y su reglamento, ISO 27001, COBIT 5, NIST 800-53 y CIS CSC. El modelo de referencia fue implementado en una Cooperativa peruana de ahorro y créditos donde se recopiló información relacionada al tratamiento de datos personales, se evaluó el nivel de protección de datos personales y se implementó un plan de mejora. El resultado de la implementación fue un incremento del 57% en el nivel de protección de datos personales, alcanzando así un 74%. / The protection of personal data consists of safeguarding the information of people throughout its life cycle within an entity and using it only for the purposes for which it was provided. All companies become owners of personal data banks by having information on their clients, collaborators and / or suppliers, either by using information technologies for their treatment, or documents and physical warehouses. The application of adequate security measures for the protection of personal data is of great importance in organizations, especially in one of the fastest growing sectors such as microfinance. Otherwise, it puts the rights and freedoms of people at risk, in addition to receiving costly financial penalties. In this thesis, a reference model is proposed that provides a set of legal, organizational and technical measures to protect the personal data kept by a microfinance entity, guaranteeing its adequate treatment throughout its life cycle. These measures are based on Law 29733 and its regulations, ISO 27001, COBIT 5, NIST 800-53 and CIS CSC. The reference model was implemented in a Peruvian savings and loan cooperative where information related to the processing of personal data was collected, the level of protection of personal data was evaluated and an improvement plan was implemented. The result of the implementation was a 57% increase in the level of protection of personal data, thus reaching 74%. / Tesis

Este trabajo analiza la inclusión financiera como un factor para modificar las condiciones de vida de los ciudadanos en los diferentes países alrededor del mundo. Formar parte de la inclusión financiera implica acceder y utilizar los productos y servicios financieros que ofrecen las instituciones financieras. Este texto está organizado en seis capítulos. En el primer capítulo, se aborda la inclusión financiera desde la perspectiva de la oferta y la demanda. Por un lado, la oferta aborda el uso de herramientas tecnológicas que permitirán a las instituciones financieras la creación de productos y servicios para los excluidos, mientras que, por el lado de la demanda, implica trabajo en la educación de los usuarios. El segundo capítulo expone las barreras tanto voluntarias como involuntarias que impiden el acceso a la inclusión financiera: la distancia, infraestructura, la asimetría de la información, entre otros. El tercer capítulo aborda los determinantes de la incorporación financiera: género, educación, edad, nivel de ingresos, idioma y religión. En el cuarto capítulo, se desarrolla los efectos de la inclusión financiera como la reducción de la pobreza, fuente generadora de empleo, costo de capital más económico y la innovación de nuevo productos financieros. En el quinto capítulo, se presentan las mediciones y modelos para la inclusión financiera; entre estos, se encuentran el uso del análisis de componentes principales, mínimos cuadrados ordinarios, regresión lineal simple entre otros. Asimismo, en el sexto capítulo, se expone el papel de la inclusión financiera en las microfinanzas. Finalmente, se exponen las conclusiones de la investigación. / This work analyzes financial inclusion as a factor to modify the living conditions of citizens in different countries around the world. Being part of financial inclusion involves accessing and using financial products and services offered by financial institutions. This text is organized into six chapters. In the first chapter, financial inclusion is approached from the perspective of supply and demand. On the one hand, the offer addresses the use of technological tools that will allow financial institutions to create products and services for the excluded, while, on the demand side, it involves work in the education of users. The second chapter exposes both voluntary and involuntary barriers that prevent access to financial inclusion: distance, infrastructure, asymmetry of information, among others. The third chapter addresses the determinants of financial incorporation: gender, education, age, income level, language and religion. In the fourth chapter, the effects of financial inclusion are developed, such as the reduction of poverty, a source of employment, a cheaper cost of capital and the innovation of new financial products. In the fifth chapter, the measurements and models for financial inclusion are presented; Among these are the use of principal component analysis, ordinary least squares, simple linear regression, among others. Also, in the sixth chapter, the role of financial inclusion in microfinance is exposed. Finally, the conclusions of the investigation are presented. / Trabajo de Suficiencia Profesional

Identifikační záznam Richterová, Daniela. On line fundraising a mikrofinancování v sociální síti a na Webu 2.0 [Online fundraising and microfinace in the context of social networks and Web 2.0]. Praha, 2011. 102 s. Diplomová práce. Univerzita Karlova v Praze, Filozofická fakulta, Ústav informačních studií a knihovnictví 2011. Vedoucí diplomové práce Mgr. Denisa Kera, Ph.D. Abstract The main focus of this thesis is to characterize online fundraising and microfinance tools in the context of Web 2.0 and social media. The main goal is to analyze and assess the existing philanthropic portals in the Czech Republic and abroad. The thesis includes a theoretical explanation of terminology, principles and technologies of Web 2.0 and social media platforms and their connection to online philanthropy. New phenomena such as crowdfunding, P2P lending and crowdsourcing are clarified. The analytical part focuses on the evaluation of fundraising portals Network for Good and GlobalGiving and microfinace portals Kiva and LoanBack. Czech philanthropic online projects are represented by Šance pro draha, myELEN, Daruj správně and Skutečný dárek. Particular emphasis is given to monitoring and evaluating the extent of Web 2.0 principles and technologies integration. The conclusions contain suggestions for implementing the findings...

The Thesis "The Change of Development Aid's Paradigm on the Microfinance Example" deals with the issue of microfinance from the point of view of development theories. Microfinance as a form of development aid is a relatively new phenomenon. It is a form of a direct financial support of small entrepreneurs in developing countries. Since the 90s commercial institutions have become increasingly involved in the process of microfinancing and projects and financing have gone beyond borders of individual states. After 2000 microfinance has become a part of the agenda of international organizations. In the last century, there was a dynamic development in the area of development theories. The change of development aid's paradigm, which took place during the 90s, marked a culmination of this process. Since the 90s the term Comprehensive Development Framework is being used. This thesis verifies validity of the subsequent hypothesis, interest in microfinancing is in accordance with the change of development theories paradigm. The incorporation of microfinance into the development aid's agenda is assessed by concepts the new paradigm works with; the human potential (individual as an active player of development), role of the institutional environment, multidisciplinarity and sustainable development.

El microcrédito se ha logrado extender a través de las microfinanzas, convirtiéndose en una herramienta innovadora de desarrollo para el crecimiento económico de un país donde los agentes económicos más vulnerables (microempresarios formales e informales, y mujeres) son los principales beneficiarios. El objetivo de este estudio es hacer una evaluación cualitativa de los efectos del microcrédito, que ha tenido sobre el crecimiento de la actividad económica de las personas pobres y mujeres para mejorar su calidad de vida a nivel individual, familiar y comunitario y como este impacta en el crecimiento económico de un país. Teniendo como marcos económicos la influencia del microcrédito en la reducción de la pobreza y el éxito logrado al eliminar los créditos informales y así potenciar el espíritu emprendedor en las personas de bajos recursos, incluso como el microcrédito brinda poder económico a las féminas, lo cual ha permitido mejorar su situación socioeconómico y librarse de la opresión económicas de sus parejas. Por otra parte, la importancia del uso de metodologías de evaluación específicas que permite gestionar y mitigar del riesgo crediticio y la utilización de enfoques de calificación como el scoring para reducir el riesgo de impagos y visualizar contingencias futuras. Las evidencias encontradas sugieren que el microcrédito tiene un impacto positivo porque ha permitido producir, mejorar, crecer, expandirse, generar empleo, aumentar ingresos, usar tecnología avanzada y construir un futuro prometedor en el desarrollo individual y colectivo de las personas más vulnerables, sin embargo, algunos autores mencionan que el microcrédito es una herramienta que sobreendeuda, genera estrés financiero, conduce a tentativas de suicidio y propicia la violencia de género. / Microcredit has been extended through microfinance, becoming an innovative development tool for the economic growth of a country where the most vulnerable economic agents (formal and informal microentrepreneurs and women) are the main beneficiaries. The objective of this study is to make a qualitative evaluation of the effects of microcredit, which has had on the growth of the economic activity of poor people and women to improve their quality of life at the individual, family, and community level and how it impacts on the economic growth of a country. Taking as economic frameworks the influence of microcredit in poverty reduction and the success achieved by eliminating informal credit and thus enhance entrepreneurship in low-income people, including how microcredit provides economic power to women, which has allowed them to improve their socioeconomic situation and get rid of the economic oppression of their partners. On the other hand, the importance of the use of specific evaluation methodologies to manage and mitigate credit risk and the use of rating approaches such as scoring to reduce the risk of non-payment and visualize future contingencies. The evidence found suggests that microcredit has a positive impact because it has made it possible to produce, improve, grow, expand, generate employment, increase income, use advanced technology, and build a promising future in the individual and collective development of the most vulnerable people; however, some authors mention that microcredit is a tool that over-indebts, generates financial stress, leads to suicide attempts, and fosters gender violence. / Trabajo de Suficiencia Profesional

In der Russischen Föderation haben sich nach 1990 wieder kreditgenossenschaftliche Strukturen herausgebildet. In der Arbeit wird speziell die Gruppe der Landwirtschaftlichen Verbraucherkreditgenossenschaften (LVKG) untersucht. Deren Zahl hatte sich speziell im Zeitraum nach dem Jahr 2000 kräftig entwickelt, wobei es im Zuge der globalen Finanz- und Wirtschaftskrise 2008/2009 eine Bereinigung und Konsolidierung gab, die im Grunde bis dato andauert. Die Tätigkeit der LVKG hat dabei gezeigt, dass diese eine Bedeutung für die regionale Entwicklung haben können, indem sie Lücken im regionalen Angebot von Finanzdienstleistungen schließen. Insbesondere die Kreditierung kleinerer landwirtschaftlicher Betriebe sowie anderer kleinerer Unternehmungen im ländlichen Raum hat positive Effekte im Hinblick auf die Landnutzung und die lokale Beschäftigung. Aber auch die Kreditierung für die Sanierung und den Bau von Immobilien für Wohnzwecke sowie generell für nicht-investive Zwecke (darunter auch für Bildung) hat eine Bedeutung im Hinblick auf die Steigerung der Lebensqualität und Verbesserung der beruflichen Perspektiven im ländlichen Raum Russlands. Für die Zukunft könnte eine Perspektive darin bestehen, die lokale Eingebundenheit der LVKG zu nutzen, um zusammen mit öffentlichen bzw. staatlichen Partnern gemeinsam an einer Verbesserung der unmittelbaren infrastrukturellen Bedingungen für unternehmerische Aktivitäten im ländlichen Raum Russlands zu arbeiten.:Abkürzungsverzeichnis Abbildungsverzeichnis Tabellenverzeichnis 1 Ausgangspunkt und Einleitung 1.1 Rückblick und Ausgangssituation 1.2 Motivation und Zielstellung 1.3 Konzeptionelle Einordnung 1.4 Gang der Untersuchung 2 Definitionen, Abgrenzung des Untersuchungsgegenstands und Leitbild 2.1 Begriffsabgrenzungen 2.2 Schwerpunkt der Analyse 2.3 Leitbild – Konfiguration hochentwickelter kreditgenossenschaftlicher Systeme in westlichen Industriestaaten: Das System der Volks- und Raiffeisenbanken in Deutschland 2.4 Ausgewählte Beispiele für Aktivitäten von Genossenschaftsbanken in Deutschland im Zusammenhang mit dem regionalen Angebot von Finanzdienstleistungen und dem Aspekt der regionalen Entwicklung 3 Der makroökonomische Rahmen – Phasen der wirtschaftlichen Entwicklung, regionale Entwicklung, Unternehmertum, Landwirtschaft und ökonomische Perspektive 3.1 Vorbetrachtung zu den neueren Phasen der wirtschaftlichen Entwicklung Russlands 3.2 Grundzüge der makroökonomischen Entwicklung speziell ab Ende der 1990er Jahre 3.3 Regionale Wachstumsunterschiede 3.4 Die Entwicklung des Unternehmertums seit dem Ende der Sowjetunion 3.5 Resultierender Möglichkeitsraum für die mittel- bis langfristige wirtschaftliche Entwicklung in der Russischen Föderation 3.6 Zur neueren Entwicklung speziell im Bereich der Landwirtschaft 3.7 Ausblick ausgehend von der gegenwärtigen Situation in 2021 – künftige Wirtschaftspolitik 4 Zum Zusammenhang zwischen finanzieller und wirtschaftlicher Entwicklung, dem Phänomen der Kreditrationierung und der Rolle von Kreditgenossenschaften 4.1 Der Finance & Development-Ansatz 4.2 Theorie der Kreditrationierung 4.3 Kreditgenossenschaften als alternative Institutionen zur Verringerung des Problems der Kreditrationierung 4.4 Formulierung von Hypothesen aus der problemgeleiteten Theorieverwendung, Zusammenfassung und weiterer Fortgang 5 Die Entwicklung des kreditgenossenschaftlichen Sektors in Russland und dessen Einfluss auf das Niveau der Kreditrationierung im ländlichen Raum 5.1 Zur Rolle des Bankensystems im Verlauf der bisherigen Transformation 5.2 Der Entwicklungsstand des russischen Finanzsystems im Vergleich zu anderen Transformationsländern Osteuropas 5.3 Rückblick und Stand der Entwicklung des kreditgenossenschaftlichen Sektors zum Ende des Betrachtungszeitraums 5.4 Herausgebildete Konfiguration des kreditgenossenschaftlichen Sektors im ländlichen Raum im Zeitraum der 2000er Jahre 5.5 Einfluss auf das Niveau der Kreditrationierung im ländlichen Raum 5.6 Zusammenfassung 6 Beitrag landwirtschaftlicher Verbraucherkreditgenossenschaften zur regionalen Entwicklung in Russland seit dem Beginn der 2000er Jahre 6.1 Dreidimensionale Zielausrichtung heutiger Regionalpolitik und die besondere Bedeutung endogen vorhandener Potenziale 6.2 Kreditgenossenschaften aus volkswirtschaftlicher Sicht – wirtschaftlich-strukturelle Wirkungen im Hinblick auf die regionale Entwicklung bzw. die regionale Wirtschaft / Regionalwirtschaft: Förderung lokalen Unternehmertums – spezifischer Beitrag 6.3 Zur Wechselwirkung zwischen finanzieller Entwicklung, regionaler Verfügbarkeit von Krediten und lokaler Wirtschaftsentwicklung: Der Regional-Credit-Availability-Ansatz als Ausgangsbasis für spätere strukturelle Empfehlungen 6.4 Implikation für die weitere Analyse der Wirkung der LVKG 6.5 Ergebnis von Studien zum Entwicklungsbeitrag des kreditgenossenschaftlichen Systems 6.6 Fallstudie zum Entwicklungsbeitrag in der Gegenwart: Das System ländlicher Verbraucherkreditgenossenschaften im Oblast Wologda 6.7 Zusammenfassung und kritische Würdigung 7 Konzeption für mögliche Schritte auf lokaler, regionaler und föderaler Ebene ausgehend von der Situation der LVKG im Oblast Wologda unter den gegenwärtigen Rahmenbedingungen 7.1 Umsetzungskonzeption in Orientierung am führungsorientiert-pragmatischen Ansatz von Ohno / Ohno (2012) 7.2 Mögliche weitere speziell an endogenen Potenzialen orientierte Maßnahmen und Aktivitäten als Teil von Interventionen in den regionalen Entwicklungsprozess 7.3 Abschließende Betrachtung und Perspektive – Die LVKG als feste Größe innerhalb der regionalen Governance und deren eigene weitere Entwicklung 8 Zusammenfassung und Ausblick 8.1 Überblick zum Ergebnis der Untersuchung 8.2 Ergebnis der Untersuchung im Einzelnen 8.3 Mögliche Übertragung des Untersuchungsergebnisses auf andere postsozialistische Schwellenländer – insbesondere der ehemaligen Sowjetunion bzw. GUS 8.4 Weiterer Forschungsbedarf in Bezug auf die stärkere Nutzung kreditgenossenschaftlicher Strukturen zur Unterstützung des Strukturwandels in der Russischen Föderation Anhang Literaturverzeichnis