What is Microfinance?

Microfinance is the provision of financial services such as loans, savings, insurance, and training to people living in poverty. Many diverse types of organizations are involved in this sector. Although dedicated Microfinance Institutions are the largest percentage, they are followed by Non-Governmental Organizations (NGOs), financial co-operatives, development projects, all practicing microfinance.  Banks are not extensively involved in this function. 

Microfinance is one of the great success stories in the developing world in the last 30 years and is widely recognized as a just and sustainable solution in alleviating global poverty.  Over the last decade the microfinance sector in Africa has expanded its financial service offerings to better meet client needs. For example, The International Finance Corporation (IFC), the private sector arm of the World Bank Group, has $4 billion invested in various kinds of financial institutions in 88 countries: including banks, leasing companies, credit rating agencies, and pension funds.

Jobs in the microfinance sector are very interesting and varied.  There are opportunities for business development officers that drive and manage business activities at regional and branch level, branch managers and loans officers that assess and fulfill client requirements.

Personal attributes that are prized in microfinance are self-motivation,  maturity and interest in social and economic issues. 

Microfinance organizations make it a priority to serve the particular needs of women, since more than 70 percent of all those living in extreme poverty are female. Women are often excluded from education, the workplace, owning property and equal participation in politics. They produce one half of the world’s food, but own just one percent of its farmland.  When women improve their circumstances, they also improve the lives of their children. By investing in nutrition and education, they help to create a better future for their children and their communities.

The World Bank says that the industry is not close to meeting the demand despite excellent progress. Five hundred million people living in poverty could benefit from a small business loan and only one-third of the world’s population has access to any kind of bank account. The lack of access is particularly severe in sub-Saharan Africa providing attractive work opportunities in microfinance in Africa.

More about microfinance

http://www.un.org/esa/africa/microfinanceinafrica.pdf

The outlook for global resources

The outlook for jobs in mining for 2011 and beyond is positive. Reports in the press recently support the industry view that global spending on mining will even surpass the levels that were enjoyed during the years before the financial crisis.  The consensus is that the economic recovery will be led by China and other fast growing emerging markets with mineral resources.

 “The boom in capital expenditures, which extends to the oil, natural gas and agribusinesses, comes amid sharply rising prices for commodities such as copper, iron ore, crude oil, sugar and wheat” reports Javier Blas in the Financial Times of December 14th 2010.   

He continues “Global mining expenditure is set to hit a record $115bn-$120bn next year, above the peak of $110bn set in 2008, according to a survey of senior industry executives and consultants.”  All this bodes well for the job market. In Australia, the hottest mining region, the government’s resources forecasting agency predicts expenditure to jump by 58 per cent year-on-year.

The growth opportunities will be visible where some of the leaders in global mining are active. Vale, Rio Tinto and Xstrata are expected to take advantage of the rise in demand and price of raw materials. This means new capital investments and staffing requirements. 

Tom Albanese, chief executive of Rio Tinto says, “There is a greater sense of optimism in the sector”. Companies that support the mining sector such as Joy Global, specialists in mining excavators, supports this view and Mike Sutherlin, chief executive adds that ““We are entering the earlier stages of another multiyear expansion of the industry”.

Morgan Stanley’s outlook for commodities in 2011 is also very positive.  They predict that most commodities should move higher and that more than 70% of the economic growth is expected to come from commodity-intensive emerging-market economies, including China, India and Latin America.  Morgan Stanley also says that gold and copper are among the commodities for which it is “most constructive” in 2011. Their view on the copper price is an average of US$7,900 a metric ton in 2011, compared to US$7,300 for 2010. This could be a boost for mining job opportunities in Africa.

Reference  :  Global resources spending soars

http://www.ft.com/cms/s/0/e9a97796-07b1-11e0-a568-00144feabdc0.html#axzz189v1zOZ7

International Expatriate Jobs

International Expatriate Jobs  

When the job market for professionals and experts is tight in developed countries and the opportunities are few, maybe it’s time to consider an overseas posting. It is surprising to see the range of openings that are advertised, the different levels of experience required and the locations that a person can choose to work in. Clients are looking for banking relationship managers in Nigeria, nurses and doctors in the gold mining industry, and even facilities managers in Kazakhstan.

Expatriates can be appointed in various ways:  

The placement may be a permanent one, meaning that there is an employment contract that continues until it is terminated by agreement.

Contract appointments are for a fixed term, usually one or two years with a stated end date. There may be an option to renew and possibly a termination bonus.        

Interim appointments are made for a period of time that allows for the client to search for a suitable person to fill the role on a longer term basis. 

Openings are advertised by on-line specialist job sites and global recruitment agencies.  They act for clients in mining, oil and gas, banking, power, I.T and telecommunications, medical and construction industries among others. It is preferable to use a service provider that has experience in the region that you are targeting, especially in Africa, where local knowledge is vital.           

The roles that are available are diverse and mostly require people with technical or professional qualifications and a few years experience in their chose field.  Applicants with well developed language skills other than English receive preference in locations where the main language is French, Spanish or Portuguese.  

Internet research into the employers, their locations, their H.R policies is recommended. There is a wealth of information available for potential expatriates: details on the country that will host them, the relative cost of living and local conditions in each country and the type of lifestyle you can expect.  Importantly, use a trusted agent to assist you who can answer the many questions that you may have and who can allay your fears of the unknown.  Expand your horizons and look for an international expatriate job that suits you.