February 22, 2011


The Art of Development
All over the world the art of microfinance is the best known human development strategy .Without development no society can survive Certainly the art of development in any society is determined by development planning which can be preceded by development ideology and strategy mapping .In the economy of man development is a binding factor for all humanity and the sole sustainable factor of social life .From the antiquity into modern times it is a fundamental fact in human history .
However development brands and models differ across territories but certainly the original context of mass development is incontrovertible and the same and a legal framework for all societies and humanity to build .The disparity common to development antecedence among diverse societies is the issue of development density which measures the quality and quantity of development in an economy and strategic impact on population market using cultural indices.
It is to be noted that this density which varies markedly or is exceptionally very high according to prevailing standard in advanced countries and the inherent models that nurtured this density is grossly inadequate by practice and modeling to developing countries market . Such cultural hazards bred by intellectual imperialism tends to mystify the importance of this density highly unsuitable to the repressed territories. This demystication cultivated by duress has brazenly promoted gross underdevelopment and a degradation of the environment of development of these territories which has depressed development standard imbibing unworkable models as kith and kin of ineffective development agenda .
Consequently the dividend is mass poverty .Although serious factor such as dark age mentality is gripping the territories especially Africa. To escape cultural hazard –the so called counter-development trap cycles and western intellectual terrorism sensible countries of the world predominantly the emerging market have opened a new era adopting and imbibing hook line and sinker this development concept that gained renaissance in the 20th century
To build capacity which is the author of development they have embraced the concept as the panacea to ever increasing mass poverty in their territories. Today there are over 11,000 MFIs in the world and prior to U.S meltdown had successfully touched the lives of over 500million people .[CGAP,2008.].And to understand microfinance effectively with new models is to chart a new development era in our world today despite giant stride made so far is still in the preschool of the practice and industry dark age in a potential 80% of 6.5 billion mass poverty market worldwide .This indeed is the richest market worldwide . It is to be noted that development comes by using and cultivating more than adequate capacity with multi pronged strategy for effective practice and sustainability .This has eluded the industry since the renaissance of modern microfinance .
Effective use of microfinance promotes sustainable capacity and can nurture capital development with the right technology. The challenge is how to erase ignorance using the media and good use of institutional art creating such awareness across the world as included in this revised international version . Elusive development is a major barrier in the developing countries which the technology can resolve too well in view of alien tested empiricism . And the practice of microfinance since 1960s has been below expectation vis-vis corporate obligation and strategic socioeconomic impact over poverty reduction let alone eradication and grossly underperformed in the face of ballooning mass poverty . .Several reports find out that this is due to poor technology .Understanding microfinance is a sure antidote to build development density in this part of the world and beyond and perhaps return Africa back to her civilization like the rest of the world under review . Indeed , the journey has just begun

No comments:

Post a Comment