Micro-credit involves giving the poorest people in society access to loans that will help lift them out of poverty, thereby developing economic growth from below. Several EDHEC alumni having chosen finance as their career option now work in the micro-finance sector in places such as the Philippines, the Congo and Cameroon.

Anne Marie REY
EDHEC 2003

"It's a really exciting challenge to work on this type of economic development project in Cameroon," Anne-Marie told us. She began working for a micro-credit firm, Horus, last September. "Working in the humanitarian sector is highly rewarding and many young EDHEC graduates offer their skills to the numerous NGOs specialised in this field. Joining micro-finance organisations based in developing countries is an excellent way for young graduates to widen their experience in the banking sector."

Anne-Marie Rey is currently preparing her next mission in Cameroon  to develop Horus' subsidiary, Advans, where she will be working on the IT system. Horus aims to create 11 agencies within the next 5 years and to create methodological kits for managers by developing reliable market studies adapted to the different countries. Anne- Marie explained that the firm has invested in a very good tool, enabling it to concentrate on the customers. "There is no minimum amount set for the loans. The customers already have a business of some sort but do not have access to the banking system. Loans provided by Horus can help farmers to buy seeds for their field, for example." Anne-Marie explained.

Anne-Marie fell in love with Africa as soon as she arrived in Benin in 1998, where she was a voluntary overseas worker for 18 months. She helped set up a subsidiary of Société Générale and was put in charge of financial projects. "It was an excellent opportunity to get to know the country and the micro-credit system!"  She loved her African experience and was given a lot of responsibility and got very involved in the projects. "The experience I gained from being a member of different associations at EDHEC was really useful during this period; it gives you a taste for hands-on work." she explained

Franck RENAUDIN
EDHEC 1986
EDHEC of the Year 2004

Franck has been lending money to the poorest in society for the last 8 years through his association, Entrepreneurs du Monde. In India, the Philippines, Madagascar, Benin, Ghana and soon in Vietnam, Franck has given hundreds of small businessmen a helping hand. He mainly works with inhabitants in shanty towns, providing them with the means to carry through projects that call for very small sums of startup capital, often less than 50 euros.

In the Philippines, the members of the Nadera family have gradually built up their business in this way. From a very small grocery shop and an initial loan of 2000 pesos (28 euros), the family was able to extend the range of products it sold in its small grocer's shop, modernise the premises, open a baker's shop 4 years later, and employ several local young people. Entrepreneurs du Monde works with local financial partners like UPLiFT and Chamroen (in Cambodia).

Claire LEPRINCE
EDHEC 2003

Claire has been working in Kinshasa (Democratic Republic of Congo) at Pro Credit for over a year. She manages the administration and human resource aspects of the enterprise (recruitment and training, for example). I really enjoy working in such a flexible structure and the management issues that we deal with on a daily basis are very different too! One day I may have an appointment with an electrician and the next day I'm at the headquarters of the EU. The loans average around $2000.

"I am in charge of training the employees at Pro Credit . Learning to speak English or how to drive is an additional source of motivation for the employees. Our aim is to make them autonomous and for me to move on to new projects, leaving the Africans themselves in charge of the business." Claire explained.

Claire never really saw herself selling yoghurts or cosmetics after graduating from EDHEC. She was keen to find ways to help the poorest communities in Africa, and take part in the economic development of the country. When she became interested in micro-credit the main problem was that potential employers wanted people with a certain amount of experience in finance so Claire initially spent 2 years working in a bank in London. She improved her English and her know-how of the basic mechanisms of banking. Anne-Marie also spent some time working in the head offices of Société Générale before being taken on by Horus.

EDHEC wishes these graduates all the best in their worthwhile projects.

Contacts:

Entrepreneurs du Monde : http://www.entrepreneursdumonde.org

Horus: http://www.horus-groupe.com

Pro Credit: http://www.procredit-holding.com