As the United Nations prepared to launch its International Year of Microcredit, Shared Interest issued a guarantee for a dynamic new microfinance program initiated by Beehive Financial Services (BFS). Despite its name, this organization has nothing to do with bees. (A “hive” in South Africa also refers to what is known in the U.S. as a business “incubator” program to nurture very small new enterprises.) In fact, BFS was created by Beehive Economic Development Corporation, a not-for-profit organization that has been providing technical assistance to small and microentrepreneurs in Mpumalanga Province since 1995. In 2003, Shared Interest extended a guarantee to BFS’s sister organization, INDLU, for housing loans to borrowers like Justice Mkhabela. (see below) continued…
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