Three billion people—nearly half the world’s population—live on less than US$2 per day and many lack the resources to move out of poverty. Grameen Foundation develops tools for organizations that serve the world’s poor--tools they use to operate more efficiently, assess their effectiveness, and help more people become economically self sufficient.
Who: Fight Poverty with Technology
Microfinance institutions and other poverty-focused organizations use tools developed by Grameen Foundation to become more efficient and effective.
- 50+ microfinance institutions around the world use Mifos, an open-source management information system, to serve more than 1.1 million clients.
- 200+ organizations serving more than 24 million clients use the Progress Out of Poverty Index to assess client quality of life and their progress out of poverty.
- 70 organizations in 26 countries have adopted TaroWorks to capture and manage data gathered from remote field operations using mobile technology.
How: Business Intelligence to Better Serve Those in Need
Cisco invests in Grameen Foundation’s innovative tools to help speed development and delivery to more organizations, which use them to make more informed business decisions and serve more people in need.
- Product and cash grants from Cisco and the Cisco Foundation have supported several Grameen Foundation tools that streamline operations and provide business intelligence.
- Cisco helped increase adoption of the Progress Out of Poverty Index by supporting training and certification programs, an online resource center, and communications.
- TaroWorks customers use its technology to better understand their operations, the viability of their business model, and their impact.
- 325+ organizations have benefitted from Grameen Foundation’s corps of skilled volunteers and data management tools.
With Cisco support, Grameen Foundation has developed and expanded adoption of its technology-based tools among organizations working to alleviate poverty. Its financing, mobile health, and mobile agriculture solutions have benefitted 4.7 million people worldwide.
- Grameen Foundation transferred Mifos to the open-source community that helped develop it—showing that innovative technology can be effective and self-sustaining.
- Using Mifos, India-based microfinance institution Grameen Koota nearly quadrupled its portfolio from $7.8 to $30.22 million and grew its client base 275 percent, from 70,938 to 265,000.
- Using TaroWorks, Illumexico (provides solar lighting systems to marginalized urban communities) saves approximately 84 work hours per month in data management, grew from one branch to five, cut time to access operational reports from three months to one day, and decreased the percentage of its portfolio at risk by 30 percent.
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