Ligia Torres, an employee of BNP Paribas United Kingdom, used to work within Fixed Income running the ‘European Corporate Group’ (which included DCM, Foreign Exchange, Derivatives, Corporate Solutions) for Europe,Middle East, and Africa. A year and a half ago, she took a sabbatical and went to volunteer in Malawi, applying her skills and know-how to an environment very different from her own. Within the framework of the microcredit activity of MicroLoan Foundation, she is trying to help to improve the activity of the institution, so that it could help many women in Africa break the vicious circle of poverty. She has recently joined the Board of the MicroLoan Foundation, and shares with us her experience:
Ligia Torres (fifth from left) in Malawi
“I wanted to see another world, different from the world of investment that I was living in, where I was putting a lot of energy, and where there are a lot of resources. I wanted to see how I could make a difference, how I could make an impact and, as they say, pay back for what life has given me. I went to Malawi, and tried to identify where I could provide any help. I realized I could give the MicroLoan Foundation in Malawi the knowledge that I had in terms of financing, portfolio management, risk management,so that they improve the service they are offering to these people and the products they propose. I am also helping with raising funds and marketing.. all the experience that I had acquired here working at BNP Paribas…”
“I took a risk, by interrupting my career for one year, I’m saying it openly, I took a risk but, frankly, it is rewarding. Furthermore, I learn a lot and I hope that what I have learned, I can bring back to BNP Paribas in future projects”
The MicroLoan Foundation is a microcredit institution, which currently has loans with 11,000 women. Their businesses range from running a market stall selling vegetables, fruit or dried fish to selling home-baked scones or running a small restaurant. In a nutshell it gives some of Africa’s poorest women access to capital. By empowering these women, we help them to help themselves. With an average repayment rate is 98%, this ‘business model’ is self-sustaining. Ten of our 15 branches in Malawi are already self-financing. In addition to lending cash, The MicroLoan Foundation’s activities extend to:
- giving them business training
- providing mentoring
- encouraging them to save and build up capital of their own
Have a look at the video
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IDE: to create income opportunities for poor rural households
Project Why: to create a model of education for for children in India
I was very impressed by your activities described above. This may not be the right way of making this enquiry but here goes: as I plan to retire in March 2011 after 37 year of service, I was wondering how one can help your Foundation? I have been working in Risk Management since 1992. It’s just a thought, but please do let me know what you think at the above email address,
many thanks,
Maurice MALEH
BNPP London
Dear Maurice,
this is exactly the way to do it! We created forachangingworld.com so that it could be an interactive platform for people from all over the world, inside and outside BNP Paribas,to exchange ideas and work together on projects. Ligia Torres should get back to you shortly concerning your inquiry. cheers!