posted Sep 14, 2009 11:45 AM by Randy Coutts
Last night was my daughter Autumn’s grade 11 “Meet the Teacher” night. Being a separated Dad, I have to admit to not being the most involved parent in my child’s education. When Autumn’s mom asked me to attend the evening, I quickly agreed (after all, she’s shared more than her fair share of the “burden” so far) but I definitely had my concerns about how boring the night might be. To add fuel to the negativity fire, Autumn was very unhappy about us having to attend. Apparently she had not done as well as she would have liked to on a few of her quizzes during the first two weeks and she had gotten a scolding from her Art teacher for a mistake she made. So we both grudgingly agreed we would go for awhile and then skip out early.
The format for the evening was that we would go to four of her first semester classes and four of her third semester classes. At each class the teacher would have six minutes to introduce themselves and tell the entire room of parents how that semester was going to go. They actually rang the school bell at the end of six minutes and told us over the intercom to move on! Pardon my skepticism, but the evening, to me, was looking even bleaker and less impactful.
Then, I sat down in the first class, with my daughter beside me and the magic started to happen. As each of these teachers stood up to speak, some young, some old, some traditional, some “new agey,” a common thread quickly came out. These folks all had an incredible passion for their chosen subjects. From the Social teacher who almost lit up a roaring debate on universal health care in three minutes flat to the biology teacher who I am sure was on the verge of explaining, in detail, the human excretory system when the bell rang, I was swept away on sea of energy. Not only did we stay for the entire session, we chitter chattered the whole way home about how cool this teacher was and what amazing projects were planned for that class. What started out as a chore had turned into a night I will always remember as a very special evening with my only child. My daughter walked away ready to excel in this new year of adventures. It was the passion of a few strangers that made it so.
Working with IWB has been a lot like Meet the Teacher night. Some days, yes, the amount of work makes everything seem like a bit of a chore. Then I speak with Tricia, our founder, about her latest, greatest expansion plan (she is always ready to take over the world!) Then with John from Wall Street Without Walls about how he will be helping us connect to hundreds of finance professionals across North America who will form part or our SME risk rating process. Then with Bailey from Harvard about how his Entrepreneurial Finance Lab project is designing revolutionary new tools for this industry to directly evaluate an entrepreneur’s ability and honesty. Then to Boahemaa from Parity Investments about the millions of dollars of need his company has uncovered in Ghana for increased financing that IWB will connect them to. All of these people, and many more, are just brimming with passion. I can’t help but be swept up in their excitement and energized to new heights.
The next time you catch yourself dreading a meeting with someone new, take a step back and remember. ..If you put yourself in enough interesting situations, you can’t help but have interesting things happen to you. Even more importantly, the energy that you can gain from the passion of others, often far exceeds the energy you put into the meeting in the first place.
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posted Aug 28, 2009 5:19 AM by Tricia Chirumbole
Thoughts from the 30th kilometer.....
Hello, All!
Your friendly neighborhood IWB Finance Director had lots of time
to think this past Sunday...I'm not the quickest runner on the block
(two young fellows who live in my hometown of Calgary, but hail
originally from Kenya, finished the 42 kms in 2:30!) so I had more than
4 hours to kill while my poor legs did their thing to get me across the
line. For any of you that run longer distances, you'll know that your
mind often enters a bit of an altered state somewhere in the last third
of the race. The legs are saying they are done, but the mind insists
that they have to keep going. Somewhere around the 30th kilometer it
struck me that my IWB experience is a lot like a long run...
In both adventures, I started out strong, convinced that I was
going to qualify for Boston and have hundreds of loans posted within
the first twelve months! By the half way mark, doubts were leaping at
me from every corner of my mind. What kind of an idiot runs for 42 kms?
Why would I think I could get capital to businesses in
Ghana when massive government programs and huge foundations had failed?
Quitting seems not only the easy choice, but the wise one when the long
second half still stretches before you. Then something that I can only
describe as magical happens.
You just keep going.
One foot follows the other, you make a few calls, you send a few
emails, you put another process in place and you get people to listen
and buy in to the plan. Then you get to the 30th kilometer and a
serene, cool, confidence settles into every pore. Not only are you
going to finish strong, you are going to beat your expectations, you
are going to make a difference in the lives of people that want to take
their business and and their community to the next level and you are
going to make money for your investors while still showing them the
satisfaction that comes from investing for a social return.
I've had a preview of what crossing the IWB finish line is going
to look like. About 200 meters from the line on Sunday, I broke into
uncontrolable tears, but they were cleansing, proud, extremely happy
tears. I've never felt better about taking on a challenge and making it
happen. The IWB marathon has been a long one and let's not kid
ourselves, we still have a ways to go, but I can tell you the reward
for staying the course will be worth every step.
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posted Mar 27, 2009 1:41 AM by Tricia Chirumbole
November 18, 2008
Is Financial Democracy a click away? This is the name of a new USAID report on peer-to-peer (P2P) lending commissioned under USAID’s Financial Services Knowledge Generation task order.
Investors Without Borders (IWB) is profiled in the USAID report along with pioneering services such as Prosper and Kiva. IWB Board member and Live Green GEO, Steve Ma, participated in a USAID Microfinance and Learning Innovations After Hours Seminar panel, along with Harvey Grasty of MicroPlace, on October 20, 2008 in Washington, DC, to discuss the opportunities and challenges ahead in the growing world of P2P lending.
Check out the other exciting topics offered through the Microfinance and Learning Innovation After Hours Seminar Series in DC - audio recordings of most programs are available for free online!
Steve shared
insights on how P2P lending will make it possible to fuel IWB’s small
business lending pilot in Ghana, West Africa. He highlighted how a P2P
model is ideal for the formal sector businesses IWB is targeting that
have a proven track record, but are not established/collateralized
enough to be prime investments for traditional institutional lenders -
especially in countries where credit ratings and contract enforcement
is lacking!
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IWB will allow “regular” people to become pioneer lenders
and take the leap of faith in extending credit to underserved
businesses in developing markets. These pioneers can begin to unlock
the potential of promising small to medium-sized businesses that the Harvard Entrepreneurial Finance Lab estimates to represent $3.5T of potential additional revenue worldwide
P2P lending has been around for thousands of years in a variety of forms – from Mediterranean trading groups in the 11th century to Rotating Savings and Credit Associations
in a number of modern-day developing markets. Simply put, it involves
“regular” people lending to one another outside of traditional
financial institutions. This informal method of allocating resources
through relationships, reputation, and future expectations has survived
the test of time.
Now that the world
is “going global” and “getting wired” person-to-person lending has
reemerged with magnified potential. Can’t wait to see what’s coming!
Any thoughts or insight on P2P lending? Let us know! |
posted Mar 27, 2009 1:37 AM by Tricia Chirumbole
[
updated Aug 28, 2009 5:57 AM
]
August 17, 2008
Time-tested herbal remedies for the modern man
Natural-Scientific
Pharmaceuticals (NSP) is a registered company in Ghana, which is
interested in funding to help bring two new products to market. NSP processes time-tested local herbs and natural ingredients into pharmaceutical products for mainstream medical use.
In 2006, NSP won US$25,000 in seed capital from “Believe-Begin-Become”, a business plan competition organized by the Google Foundation and Technoserve Inc. This allowed them to begin selling their first two products: Neemfresh Herbal Mouthwash and Sinuclear Nasal Decongestant.  Neemfresh Herbal Mouthwash
| Sales have been strong and are expected to grow!
NSP has two more promising products already registered with the Food
and Drugs Board of Ghana and a malaria treatment and herbal toothpaste
in development. With access to an affordable loan, NSP can purchase
production and packaging equipment to get their 2 natural skin cream
products to market.
CEO and founder, Isaac Bohulu holds a Bachelor of Pharmacy (Honors) degree from the University of Science and Technology, Kumasi, Ghana and an MBA with specialization in Marketing from the University of Ghana.
 Isaac Bohulu, CEO & Founder NSP
Isaac and his team participated in the IWB small business focus
group, helping us to refine our services to suit local needs. Many
thanks to Isaac and everyone at NSP. We wish them continued success!! |
posted Mar 27, 2009 1:36 AM by Tricia Chirumbole
August 14, 2008
Investors Without Borders is honored and excited to participate in TANCon 2008
in Accra, Ghana! Themed “Fostering African Entrepreneurship”, TANCon
2008 is a gathering of pioneering individuals and organizations that is
sure to inspire anyone interested in the exciting growth, reform, and
innovation taking place across Africa.
The event is bringing together a diverse group
from Fortune 500 business leaders and Venture Capitalists to Social
Entrepreneurs and Policy Makers. Among the many distinguished speakers
are Founder of Ashesi University in Ghana, Patrick Awuah, and George B.N. Ayittey,
PhD Economist from American University. Oh yes, and the distinguished
Founder & Managing Director of Investors Without Borders, Tricia Chirumbole, who will be speaking on a Social Entrepreneurship panel that promises to enlighten!
The action takes place on Saturday, August 16th
at La Palm Beach Hotel in Accra - quite a nice spot to spend a day or
two! So if you’re in or near Accra, come check it out, there’s still
room left! If not, no worries, you have a second chance to get
involved: TANCon 2008 will be visiting the United States on November 1 at the Four Seasons Hotel in Palo Alto, California. The line up includes entrepreneur and author, Guy Kawasaki of Garage Technology Ventures, and an advocate of affirmative action, recipient of Service Business of the Year and author, Frederick E. Jordan of F.E. Jordan and Associates.
TANCon 2008 is organized and inspired by The African Network,
a global nonprofit organization founded in Silicon Valley, with the
“sole mandate of fostering entrepreneurship and technology in Africa
and among people of African descent”. The time is now to get involved
in the emerging markets in Africa - So…get involved with The African Network, come to TANCon USA 2008, and Register with IWB for updates! Thoughts or questions about opportunities in Africa?? Be sure to leave your comments and questions below! |
posted Mar 27, 2009 1:35 AM by Tricia Chirumbole
Monday, March 10th, 2008 The William James Foundation
is a Washington DC based organization actively supporting new
entrepreneurs who are committed to forging pathways toward a
sustainable global economy.
Investors Without Borders is honored to have been recognized by The
William James Foundation as an honorable mention finalist in their 5th
annual Socially Responsible Business Plan Competition. All finalists
were acknowledged at an event at the World Resources Institute in
Washington DC on Friday, March 7th. The competition received entrants
from over 10 countries and plans were reviewed by over 100 reading judges.Readers
included experts in both social ventures and traditional business
plans, community activists, Wall Street professionals, academics, and
CEOs of national for-profit and not-for-profit organizations.The
extensive and insightful feedback was truly an invaluable reward in
itself - First class consulting at a 100% discount!
IWB sincerely thanks The William James Foundation and their wide
network of volunteers and sponsors who dedicate their efforts to
supporting social entrepreneurs. IWB wants to give a special thank you
to Affinity Labs and Wall Street Without Walls - the two sponsors whose support IWB is pleased to receive as a competition finalist.
Please take the time to learn about The William James Foundation Socially Responsible Business Plan sponsors and donors
- pioneering organizations and people supporting a global revolution of
socially responsible business with their dedication, time, and vision.
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posted Mar 27, 2009 1:31 AM by Tricia Chirumbole
January 13, 2008
Echoing Green
is an innovative organization that advances social change by supporting
bold visions and promising social entrepreneurs. Through a 2-year
fellowship program, Echoing Green has invested $25 million in seed
funding and hands-on support to nearly 450 social entrepreneurs across
the world! Echoing Green’s rigorous selection process seeks out new,
high-impact solutions and strong leaders.
Investors Without Borders is honored and excited to have been
invited to participate in Phase 2 of the Echoing Green selection
process for the 2008 Echoing Green Fellows program! ![]() 
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posted Mar 27, 2009 1:29 AM by Tricia Chirumbole
January 10, 2008
LA Times reports
that leading philanthropic foundations are making a fast dash to align
their endowment investment decisions with their missions. The LA Times
has written a series of stories about big players like the Gates
Foundation and how their investments either bolster or threaten to
contradict the work they do to advance causes through grant support.
This LA Times article discusses the trend of mission-related investing and its growth.
Check out a few interesting excerpts:
” The $7.8-billion W.K. Kellogg Foundation, based in Battle Creek,
Mich., established a $100-million fund for social and mission-related
investing in the United States and Africa…The Kellogg Foundation will
use the new fund to bolster grant support for needy children, families
and communities, said Anne Mosely, vice president for programs. It
might invest in education or supermarket development in distressed
areas, or in programs to mitigate the sub-prime lending crisis, she
said. If successful, the fund would be expanded.”
“…the Ford Foundation, the [United States'] second-largest, and some
smaller foundations, such as the F.B. Herron Foundation, the Jessie
Smith Noyes Foundation and the Nathan Cummings Foundation, have long
worked to align their charitable and investment practices.”
“Stamm, at the Meyer Trust, said the larger foundation community was
showing sudden flexibility on investment strategies. ‘I am amazed,” he
said. “This field is moving far faster than anyone could have
predicted.’”
Imagine the even greater impact that the foundation community can
have if they channel their substantial investment power to socially
responsible, or “triple bottom line” investment options. Investors
Without Borders is excited to watch these trends develop among
philanthropic foundations. IWB was created on the belief that
investment in private sector stimulation is the best possible support
for sustainable poverty reduction. Foundations endowed to improve
conditions in developing countries may just have the right passion and
knowledge that will propel them to become leaders of institutional
investing in the frontier markets of the developing world.
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posted Mar 27, 2009 1:25 AM by Tricia Chirumbole
On
December 4, 2007 Investors Without Borders (IWB) was chosen as a winner
of the BID Challenge 2007 - an international business plan competition
hosted in Amsterdam, The
Netherlands by the BID Network. After several competition rounds and
many months, IWB was selected out of a pool of 2275 businesses from 144 countries!!

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grant of 5,000 Euro was awarded by BID Network sponsor, Berenschot -
the leading Dutch management consulting firm - who expressed their
support for the IWB mission and the innovativeness of the IWB model.
After a week full of pitches, judges, networking, and dancing in
Amsterdam, 17 entrepreneurs went home with a prize that will help each
person achieve their dream of using business to make a difference for
the poor and disenfranchised. Check out IWB and the BID Network!
The BID Challenge
BiD Challenge
challenges entrepreneurs from all over the world to develop and
implement innovative business plans with growth potential. In this way,
the competition aims to contribute to economic growth and employment in
developing countries. Since 2005, the BiD Challenge supported the
start-up of over 60 businesses and the creation of more than 1000 jobs
in Africa, Asia and the Americas. Worldwide over 800 professionals were
engaged in the competition as screener, coach or jury member. The BiD Challenge is supported by over 60 companies from all over the globe. |
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