Дисертації з теми "Microfinance organisations"

Microfinance has been used as a means of alleviating poverty for many years. A large number of organisations implement microfinance, covering a significant proportion of the world population. This study looks into the information systems (IS) of microfinance following an interpretive epistemological philosophy, drawing on research approaches within the fields of IS and organisational studies. It is based on an in-depth comparative case study in six micro finance organisations with different features and characteristics, combined with a questionnaire survey covering fifty-eight microfinance organisations of Bangladesh. Drawing on phenomena observed in microfinance this study analyses how lCT plays a role in shrinking organisational structure, enhancing the span of supervision and operational performance, and centralisation of delegation of authority. It identifies how key aspects of the context including financial, human resources, technological, regulatory, and national culture impact upon the IS of microfinance in Bangladesh, and block implementation of ICT -based IS . The findings on different positive and negative implications of the use of ICT on the personal, social and gender perspectives and job satisfaction of the human resources inform and add value to the existing body of knowledge. With an aim to contribute to the field of ICT4D, this study examines the use of ICT in combating corruption in microfinance and argues that along with the use of ICT, an ethical ambiance and administrative reforms are required to prevent corruption more effectively. It also argues that the adoption of emerging mobile phone-based microfinance will radically change the conventional operational model and its IS, with profound implications for the material aspects, but that it can also be detrimental to the social performance of this development programme.

Poverty is a major challenge in most developing countries. Key challenges of the government are to alleviate poverty and propel citizens toward wealth creation through development of enterprises across all sectors and to address the problem of unemployment. In Kenya, the SME sector comprises of about 99% of private sector enterprises and is prolific in employment and wealth creation. Despite this critical role played by SMEs in growing the economy, they remain outside the formal banking sector, especially in Africa. Although the number of MFOs since the 1980s has increased, the demand for financial services is largely unmet. However, MFOs are increasingly experiencing competition from new entrants and commercial banks that have developed financial models to target SMEs. MFOs are required to formulate and implement competitive strategies to enable them achieve sustainable growth and compete with commercial banks. However, strategy implementation is generally accepted as a challenge across organisations and it is often easier to formulate strategies than implementing it. Despite the need to address strategy implementation challenges across organisations, there is a greater focus by practitioners and researchers regarding strategy formulation than implementation. Consequently, this study aimed at assessing the level of strategy implementation in MFOs and factors that affect strategy implementation in MFOs. The ultimate objective was to develop a hypothetical model that could be used to improve strategy implementation in microfinance organisations in Kenya. This quantitative study used purposive sampling to select MFOs that are members of the Association of Microfinance Institutions (AMFI) in Kenya, completing a selfadministered structured questionnaire. In total, 135 MFOs were involved in this study and a total sample size of 300 managers was used in this study. This study considered fourteen factors to have an influence on the level of strategy implementation of MFOs in Kenya and hence fourteen null-hypotheses were formulated and tested. The content factors included stakeholder involvement in strategy development and the quality of strategies. The context factors included organisational structure and culture, strategic leadership and alignment of strategy to market conditions. The operational process factors included operational planning, monitoring and review of progress, teamwork, resources allocation, people-strategy fit, effective communication, strategic and management control systems and information resources. It is assumed that if all these critical strategy implementation factors are addressed, MFOs should be able improve their level of strategy implementation, ultimately leading to improved performance. The outcome factors considered were improved financial sustainability and outreach of MFOs. Advanced statistical analyses were used to analyse the data, such as factor analysis, regression and correlation analysis to assess the hypothesised relationship between the dependent and independent variables of this study. The empirical results revealed that the level of strategy implementation in MFOs in Kenya is moderate to high and content, context and operational factors do have an influence on the level of strategy implementation. However, operational factors have a more significant positive linear relationship with level of strategy implementation than the other two factors. There is also a positive relationship between the level of strategy implementation and financial sustainability and outreach by MFOs. This study has contributed to the existing body of knowledge by developing a hypothetical model that can be utilised by MFOs as well as other organisations to improve the level of strategy implementation resulting in better performance. The findings of the study can also inform strategy formulation and implementation of MFOs in Kenya, but also in other developing countries, to become more competitive. This study could also help MFOs and other organisations to put in place structures, systems, people and other resources required to attain a high level of strategy implementation. This study provides useful and practical guidelines in dealing with content, context and operational factors affecting strategy implementation in any organisational setting.

This dissertation studies the origin of new organisational forms. It focuses on organisations that challenge existing institutional boundaries, specifically the boundaries between for profit and not for profit providers of financial services. It builds on research on the origins of the microfinance industry in Bolivia; and particularly on the creation and development of BancoSol and Los Andes, the two pioneering organisations. This research involved in-depth interviews and analysis of industry-specific documents and newspaper files.
The study builds on three research streams: collective strategy, institutional theory, and evolutionary entrepreneurship. It proposes an overarching process-model that bridges these three bodies of work and advances our understanding of three key dynamics in the creation of new organisational forms: (1) the combination of hitherto unconnected principles and practices; (2) the leverage of support and acceptance for new organisational forms; and (3) the development of endurance for the new form.
The study argues that these three dynamics occur within a nonlinear process that includes three overlying stages. The first stage involves the creation of an entrepreneurial team to launch the organisations. This team includes individuals from fields with divergent principles and practices (e.g. for profit and not for profit). The second stage involves negotiations with institutional actors to leverage support and acceptance for the novel organisational form. The third stage involves decisions, actions, and interactions that promote internal coalescence and defend the organisations from external challenges. I have labeled this process-model social entrepreneurship. The process is predominantly social as the three dynamics are defined by the social assets and relations of actors. It is predominantly entrepreneurial as it destroys existing boundaries across fields and generates an enduring combination of principles and practices previously unconnected.

Devant le constat que les organisations africaines fonctionnent selon les principes universels (occidentaux), mais que de tels principes méconnaissent souvent les spécificités africaines, ce travail se propose de faire le rapprochement entre théorie occidentale et spécificités africaines. Ce travail doctoral examine un modèle occidental, celui de Mitchell et al. (1997), enl’appliquant à la gouvernance des organisations de microfinance au Sénégal. De nombreuses recherches expliquent que les dérives des organisations de microfinance sont liées à des problèmes de gouvernance. De plus, plusieurs recherches s’appuient sur le concept de parties prenantes comme fondement de la gouvernance des organisations de microfinance. Enfin, lemodèle de Mitchell et al. (1997) est cité comme l’une des typologies les plus pertinentes dans la littérature sur la théorie des parties prenantes. L’objectif de cette thèse est donc de tenir compte des spécificités traditionnelles et culturelles sénégalaises en utilisant l’approche du modèle de Mitchell et al. (1997). A partir, d’une étude qualitative basée sur 24 entretiens, effectués auprès des dirigeants des organisations de microfinance au Sénégal dans la région de Dakar, nous mettons en évidence que les théoriesoccidentales, en particulier le modèle de Mitchell et al. (1997), ne peuvent s’appréhender qu’en fonction d’un contexte institutionnel lié à un territoire, à la tradition qui s’y exerce et aux acteurs spécifiques qui la font vivre. De surcroît, prendre en compte les aspectstraditionnels et locaux peut amener à repenser le rôle des organisations de microfinance (création de valeur et répartition du surplus) et les mécanismes de contrôle à mettre en œuvre pour limiter les dérives clientélistes ou les détournements de fonds
As African organizations operate according to universal principles (Western) while such principles often ignore African specificities, this study proposes to relate Western theory to African specificities. This doctoral study examines a Western model, the Mitchell and al. (1997)’s model, applied to the governance of microfinance organizations in Senegal. Many researches explain that microfinance organizations’ problems are related to corporate governance difficulties. Moreover, most studies consider that the concept of stakeholder is the foundation of the governance of microfinance organizations. Finally, the model of Mitchelland al. (1997) is cited as one of the most relevant typologies in the stakeholder theory literature. The objective of this thesis is to integrate Senegalese traditional and cultural specificities in the model of Mitchell et al. (1997) applied to the governance of microfinance organizations in Senegal. From a qualitative study based on 24 interviews conducted with the leaders of microfinance organizations in Senegal in the Dakar region, we highlight that Western theories, in particular the model of Mitchell et al. (1997) can only be understood inside an institutional context linked to a territory, the tradition that is exercised there and the specificactors that make it live. In addition, taking into account the traditional and local aspects leads to a new thinking of both the role of microfinance organizations (value creation and distribution of the surplus) and the control mechanisms that are to be implemented to limit patronage drift or misappropriation of funds

Microfinance has generally been acclaimed as one way to reduce poverty through the provision of financial services targeting the previously “unbankable” poor. Persons with Disabilities (PWDs) are amongst society’s most excluded groups financially and the absence of PWDs within mainstream Microfinance urges Disabled People’s Organisations (DPOs) to directly engage in Microfinance. The practices by such alternative actors are suggested to be generally rejected because they risk being inefficient and failing. The objective of this study is to analyse examples of how DPOs in Nepal practice Microfinance and whether they generally follow recommended best practices. The correlation with what is perceived as best practices provide evidence to suggest whether the DPOs’ practices should be generally rejected or motivated as plausible and justified accordingly. To accomplish this, a well-justified analytical framework of recommended best practices for DPOs engaged in Microfinance is created, and field research is undertaken in Nepal, April-May 2014. It can be concluded that recommended best practices are followed at a general level; however, the extent varies within and between the analysed practices. The results provide sufficient evidence to suggest that the practices are plausible and justified accordingly, and should not be generally rejected.

In simultaneously pursuing commercial and social goals, specialist microfinance organisations (MFOs) are leading examples of social enterprises working in development. Yet evidence of the feasibility of such ‘double bottom line’ management is limited. The thesis takes a comparative case study approach to investigating the dynamics of a social enterprise model of microfinance, with particular emphasis on its role in promoting employment related goals. Case study material consists primarily of the experience of two Central Asian MFOs that participated in an action research project ‘Microfinance for Decent Work’ implemented by the International Labour Organisation (ILO). Data was obtained through participant observation, staff interviews, client level surveys, and it also includes reflective practice arising from my participation in the ILO project as a consultant to both MFOs between 2008 and 2012. The findings are mixed. One of the MFOs was more strongly internally motivated to achieve social goals, and was more successful in implementing social performance management initiatives. The other was motivated more by the goal to demonstrate social performance to external stakeholders, and was less responsive to the evidence generated. The thesis also illustrates both path dependence in the evolution of social performance management, and the limited capacity of external agencies such as the ILO to influence the institutionalisation of development management within MFOs.

La revue de littérature indique que la gestion des risques opérationnels bancaires relève d'une approche organisationnelle et/ou financière. Dans les organisations de microfinance, qui contribue indéniablement à la financiarisation des populations exclues de secteur bancaire, la problématique de la gestion des risques opérationnels n'a pas fait l'objet d'investigation scientifique, et le risque opérationnel n'est pas soumis à un traitement règlementaire. A partir de ce double constat, cette recherche se donne pour objectif d'identifier les choix stratégiques de couverture des risques opérationnels dans les organisations de microfinance et de mettre en évidence les modalités de leur structuration, selon une approche non financière, qualitative et exploratoire. Quatre étude de cas, retenues en prenant en compte la diversité de formes institutionnelles et organisationnelles des organisations de microfinance, ont permis, après une triangulation des sources d'évidence et des techniques d'analyse, de tirer des conclusions portant sur les déterminants du risque opérationnel et sur les dispositifs de gestion. Par ailleurs les analyses mettent en lumière les effets des formes organisationnelles à la fois sur le risque opérationnel et sur les leviers d'actions mobilisés pour y faire face
The literature review points out that banks operational risk depend on an organizational and/or a financial approach. In microfinance organizations, which contribute positively to the financiarization of people excluded from the banking sector, the problem of operational risk management has not been the subject of scientific investigation, and operational risk is not subject to a regulatory treatment. Starting from this double observation, this research is conducted to identify the strategic choices of operational risks management in microfinance organizations and to highlight how those choices are structured, through a non-financial, qualitative and exploratory approach. Four case studies, selected by taking into account the diversity of institutional and organizational forms of microfinance organizations, have permitted to draw conclusions about opérational risk determinants and the management choices of those risks. In addition, the analysis highlight the effects of organizational forms on both the operational risk and the levers mobilized to deal with it

Cette thèse analyse à travers une étude de cas, le parcours d’un programme de micro-crédit rural mis en place par l’ONG Plan International, transformé en institution formelle et intégré aujourd’hui dans l’un des plus grands réseaux mutualistes du Sénégal : l’UM-PAMECAS (Union des Mutuelles du Partenariat pour la Mobilisation de l'Epargne et du Crédit au Sénégal). Notre objectif était de montrer comment les organisations de microfinance concilient les logiques sociale et financière, à priori en opposition, dans leur mode d’action après une transformation institutionnelle. Compte tenu de la diversité des règles et des modes d’actions observés au sein des organisations étudiées, nous avons mobilisé l’économie des conventions pour construire notre cadre d’analyse. La thèse s’appuie sur une analyse qualitative diachronique des logiques en présence, de façon à comprendre ce qui les soustend, les mécanismes et enjeux de pouvoir qui les font évoluer et se stabiliser. Sur une période s’étalant de 2006 à 2008 nous avons mené des enquêtes auprès de 169 personnes aux statuts divers (salariés, élus, bénéficiaire des crédits, etc.). Ce travail a apporté un éclairage sur le processus de transformation institutionnelle des organisations de microfinance rural et ses enjeux. Nous avons montré que grâce à une méthodologie combinant plusieurs principes relevant de cités différentes mais essentiellement rattachés à une « logique sociale », les organisations de microfinance de premières générations ont permis à des personnes vivant en milieu rural, dont le profil socio-économique n’intéressait pas les banques commerciales, d’accéder aux services financiers. La transformation institutionnelle induite par des facteurs exogènes et endogènes a apporté des bouleversements auxquelles les organisations devaient faire face pour assurer leur pérennité. Notre recherche a montré que pour réussir cette transition et éviter des conflits, des concertations doivent être menées tout au long du processus avec l’ensemble des acteurs afin que tous s’entendent sur le but de la transformation, la façon dont le processus doit être mené et les réformes à mettre en place. En outre, les nouvelles procédures mises en place doivent être en adéquation avec les spécificités locales. Par ailleurs, cette thèse a montré la forte prédominance des tontines. Ces dernières ont fortement évolué et se sont enrichies grâce à l’hybridation de règles marchandes, domestiques et civiques qui en font aujourd’hui, des dispositifs locaux concurrençant fortement la collecte de l’épargne au niveau des structures formelles
This thesis analyses, trough a case study, the operation of a rural micro-credit program implemented by Plan international NGO. It has then been changed into a formal institution and integrated into one of the largest network of mutual organizations in Senegal: UMPAMECAS. Our objective was to show how micro-finance organizations reconcile social and financial logics that are primarily contradictory, in their action after institutional changes. Considering the diversity of rules and operation modes observed in the institutions under scrutiny, we have mobilized the convention economy to build the framework of our analysis. The thesis is based on a diachronic quantitative analysis of those logics to understand what underlies them, power mechanism and stakes that make them evolve and stabilize. For a period from 2006 through 2008, we surveyed 169 people from different (wages-earners, elected, credits beneficiaries, etc.). This work has cast light on the transformation process of rural microfinance and its stakes. We have shown that, thanks to a methodology combining several principles from different cities, but essentially related to a “social logic”, the first generation of microfinance institutions have enabled several people living in rural areas, whose economic profile did not appeal to commercial banks, to get access to financial services. The institutional transformations induced by endogenous and exogenous facts have brought changes which should be dealt with by the institutions to ensure their sustainability. Our research has shown that to survive the transition and avoid conflicts, consultations should be conducted all through the process with all the stakeholders for all to agree on the objective of the transition, the way the process should be conducted and the reforms that need to be implemented. Besides, the newly implemented procedures should match local specificities. Furthermore, this thesis has shown the supremacy of the “tontine” systems (rotating saving and credit associations). Those systems have deeply evolved and enriched due to the hybridization of commercial, domestic and civic rules that make them today local organizations that strongly challenge formal structures in the collecting of savings

Cette thèse mobilise les théories de l’intermédiation financière et les théories des contrats pour analyser les déterminants de la viabilité des institutions de microcrédit. Elle permet de comprendre en quoi le design d’un produit de crédit de groupe et les procédures mises en place par les agents d’une institution urbaine peuvent influencer la capacité des membres d’un groupe à caution solidaire à limiter les effets de l’anti-sélection et de l’aléa moral. A travers l’analyse du couple « information tangible / degré de centralisation des opérations de crédit », elle se réfère à la théorie de l’architecture organisationnelle pour expliquer les mécanismes qui mènent au dysfonctionnement des réseaux des coopératives de microfinance. Enfin, en faisant appel à la théorie des droits de propriété, la théorie de l’agence et la théorie des coûts de transaction, elle analyse l’impact du statut juridique sur les performances économiques des institutions de microcrédit
This thesis anlyzes the determinants of the viability of microlending institutions against the background of theories of financial intermediation and contract theory. The first part shows how a particular design of group loans and the process of lending decisions in a urban institution can influence the capacity of group members with joint liability to mitigate the effects of anti-selection and moral hazard. Through the analysis of how “hard and soft information”, on the one hand, and “the degree of centralization of credit operations”, on the other hand, are combined, the second part relies on the organisational architecture theory to explain the mechanisms which lead to the dysfunction of financial cooperatives networks. Lastly, assuming the theory of property rights, as well as agency theory and transaction cost theory, it analyzes the impact of the legal structure on the economic performances of microcredit institutions

Avec les orientations prises en 2002 par la Commission Bancaire de l’Afrique Centrale (COBAC) en vue de développer les activités microfinancières, le métier de la microfinance s’est transformé dans sa forme organisationnelle (en passant de l’informel au formel) mais aussi dans sa relation avec son environnement. L’observation du terrain met en lumière que cette perspective est largement déterminée par la coopération entre les très petites entreprises (TPE) et les établissements de microfinance (EMF) dont les pratiques managériales sont soumises à l’épreuve de la réglementation. A ce titre, la réglementation conditionne les pratiques des acteurs, et donc devrait contribuer au développement du marché et assurer la pérennité des EMF et TPE à travers leur coopération. Par rapport à ce qui précède, quels enseignements peut-on tirer de l’expérience gabonaise afin de générer une meilleure compréhension du problème de l’impact de la réglementation sur les acteurs du marché de la microfinance? Ce travail révèle qu’en environnement institutionnalisé, les EMF sont partagés entre deux attitudes : financière ou sociale. Il fait apparaître que plusieurs TPE, porteuses de projets, n’arrivent pas à bénéficier de l’offre du marché microfinancier. Ce paradoxe nous amène alors à interroger les différents comportements que la réglementation du marché de la microfinance traduit et induit. Nous avançons que ces comportements, de même que leur interaction, agissent sur la coordination des acteurs, c'est-à-dire sur la manière dont les EMF et les TPE sont gérés, ainsi que sur la coopération EMF/TPE. Ce travail participe ainsi à une meilleure compréhension du marché de la microfinance au Gabon
With the direction taken in 2002 by the Banking Commission of Central Africa (COBAC) to develop microfinance activities, the business of microfinance has turned in its organizational form (moving from informal to formal), but also its relationship to its environment. Our field observation shows that this perspective is largely determined by the cooperation between the very small enterprises (VSE) and microfinance institutions (MFIs) whose management practices are put to the test of regulations. As such, the regulation affects the behavior of actors and thus should contribute to market development and the sustainability of MFIs and VSE through their cooperation. Compared to the above, what lessons can be learned from the Gabonese experience to generate a better understanding of the problem of the impact of regulation on the market of microfinance? We show that in an institutionalized environment, EMF have two options: a financial attitude and a social attitude. We show that many small businesses, with projects, are unable to benefit from the offer of the microfinance market. This paradox then leads us to question the different behaviors that the regulation of the microfinance market translated and induced. We induce that these behaviors as well as their interaction affect the internal organization of tasks (coordination) of the actors, that is to say on how EMF and VSE are managed, as well as the cooperation between EMF and VSE. This work opens up new areas of understanding of the microfinance market in Gabon

En microfinance, la réussite des grands réseaux côtoie les échecs silencieux des organisations coopératives rurales, qui peinent à exister après leur institutionnalisation et le retrait de l’appui extérieur. Les échecs des organisations coopératives ou mutualistes rurales sont liés au problème de gouvernance. Envisager les modes de gouvernance dans le but de réduire les coûts de transaction ou les conflits nés de la relation d’agence ne rend pas compte de façon satisfaisante l’aspect dynamique de la gouvernance en microfinance. Cette limite est relevée par l’approche hétérodoxe qui associe la genèse des nouveaux cadres qui émanent de l’interaction des parties prenantes et les compromis qui en découlent pour stabiliser les organisations. Nous avons opté une approche par les parties prenantes et pour justifier ce choix, nous avons eu recours à la grille d’analyse de Gérrard Charreaux, le modèle d’équilibre coopératif de Daniel Côté et le modèle théorique des parties prenantes de Christian Cadiou et alii. Sur le terrain, nous avons mobilisé les outils d’analyse de gouvernance du Cerise dans le cas du Remec Niayes. Nous retenons alors, que les coopératives et les mutuelles rurales sont la résultante d’une hybridation des ressources et d’une superposition de pratiques associatives et entrepreneuriales. Elles sont plus aptes à résister au retrait de l’appui externe lorsqu’elle bénéficie de cet appui après leur mise sur pied par les membres. La participation externe renforce les ressources et menace l’équilibre démocratique, elle déclenche un processus de rapatriement de pouvoir des dirigeants vers le personnel salarié. Lorsque les organisations coopératives sont déconnectées de leur base (sociétaires), les mécanismes sociaux ne jouent pas efficacement leur rôle auto-renforçant
In microfinance, the success of the major networks is closed to constant failures of rural cooperative organizations which are struggling to remain after their institutionalisation and their autonomy. The failure of rural mutual or cooperative organizations is related to the problem of governance. Considering the types of governance to reduce transaction costs and conflicts caused by the relations between agencies do not reflect exactly the dynamic aspect of governance in microfinance. This limit is raised by the heterodox theory that combines the genesis of new executives from the interaction of stakeholders and trade-offs which come out of that in order to stabilize organizations. We chose an approach by stakeholders and to justify this choice, we have used the model of Gérard Charreaux analysis, the Daniel Côté cooperative balance model and the Christian Cadiou theoretical model of the stakeholders. On the field, we have mobilized analysis tools of governance of the cherry in the case of the Niayes Remec. So, we bear in mind that cooperatives and rural mutual are the result of the melting between resources and superposition of associative and entrepreneurial practices. They are more able to endure the withdrawal of the external support when they benefit from that after their setting up by members. External participation strengthens resources and threatens the democratic balance, and it triggers a process of repatriation of authorities from leaders to the wage-earning staff. When the co-operative organizations are disconnected from their base (members), the social mechanisms do not play their auto-enforcement role efficiently

Dans un contexte de libéralisation et de défaillance de l'Etat et du marché, les ONG servent de relais pour améliorer l'accès au services. La microfinance est censée réduire la pauvreté, mais elle est moins efficace pour les ménages pauvres et les agriculteurs. Une enquête de ménages au Cambodge, où une ONG a mis en œuvre des programmes de microfinance et de formation agricole, a permis la construction d'une typologie selon les dotations en ressources et les portefeuilles d'activités. Les ménages riches participent plus dans les programmes et leur situation économique s'améliore plus souvent que les pauvres. Les ONG font des choix de pérennisation sous des contraintes différentes. Ainsi, comme service marchand soumis à un cadre juridique, la microfinance peut mieux assurer sa pérennité financière que le programme agricole. Ce dernier, comme service non marchand sans cadre juridique, peut renforcer le capital humain et social, avec un effet plus large et plus durable sur la pauvreté.

Les développements théoriques de l'économie (néo-)institutionnelle ont gagné récemment le débat sur le développement. En même temps, le rôle des institutions est progressivement intégré dans l'analyse des stratégies de développement. Notre recherche dont le champ empirique est le cas de la microfinance en Haïti s'inscrit dans cette optique. Elle part de l'idée que le changement économique et social à la base du développement implique l'articulation d'un ensemble d'actifs matériels et immatériels. Le développement apparaît alors comme étant le processus sinon le résultat de la mobilisation d'un ensemble de capitaux. Aussi, nous avons cherché à montrer que les institutions économiques qui structurent les interactions entre les individus constituent une forme de capital : le capital institutionnel. Appliquée à l'analyse de l'intermédiation microfinancière en Haïti, le capital institutionnel s'est révélé un élément déterminant dans la mise en œuvre des stratégies de développement. Il apparaît comme un apport des organisations de microfinance. Il agit sur les comportements des bénéficiaires des services microfinanciers et se traduit par des conséquences économiques et sociales mesurables. A la lumière de preuves empiriques, nous sommes parvenus à la conclusion suivante : le capital institutionnel compte, à la fois comme outil analytique et comme actif véhiculé par les acteurs pour guider les comportements dans le sens du changement souhaité.

The current research examines organisational trust in three Sub-Saharan African countries. The study seeks to investigate organisational trust’s relationship with desirable workplace outcomes. The sample surveyed 423 loan officers and loan officer supervisors across 22 different microfinance institutions in Tanzania, Zambia, and Uganda. Relationships between two different referents of supervisor and top management trustworthiness perceptions and organisational trust attitudes were examined with organisation commitment as an attitude mediator on intention to quit and behaviour variables in-role behaviour and organisational citizenship behaviour. The contribution of the research involves testing the frequently quoted but less often used Gillespie (2003) reliance and disclosure measures of organisational trust in both an industry and countries that organisational trust research never previously occurred. Inasmuch, the study tests the models in the microfinance industry in Zambia, Tanzania, and Uganda examined through the confirmatory factor analysis of structural equation modeling of the structural model. The study supports existing knowledge that trustworthiness perceptions in top management do relate positively with organisational trust, but also finds several differences in relationships between variables compared to previous studies conducted in North America, Europe, and Asia. The research finds that the Mayer, Allen et al. (1995) trustworthiness measures have mixed relationships to organisational trust in contrast with previous studies. Perceptions of supervisor ability have no significant relationship with reliance and actually hold a negative relationship with disclosure. Benevolence perceptions relate significantly and positively only with disclosure and not reliance while integrity relates strongly with both reliance and disclosure. Employee intentions to rely on both supervisors and top management relate positively and strongly with organisation commitment, but disclosure and organisation commitment possess no significant relationship. Organisation commitment relates positively and significantly with in-role behaviour and organisation citizenship behaviour in both models. However, organisation commitment relates unexpectedly positively with intention to quit in the supervisor model, but negative in the top management model as found in previous research studies. The supervisor hypothesized model had a statistically significant chi-squared value x2 (394) = 707.168, df = 384, p < .0001, and showed appropriateness of fit with RMSEA = .046, CFI = .941, SRMR = .048. The top management hypothesized model had a statistically significant chi-squared value x2 (394) = 700.034, df = 384, p < .0001, and showed appropriateness of fit with RMSEA = .046, CFI = .942, SRMR = .047. Plausible explanations are discussed along with implications for theory and practice.

The thesis contributes to understanding of how the tension between social and financial performance in microfinance is assessed and managed. The dominant view at the global level favours prioritising financial performance and organizational self-reliance on the grounds that these are necessary if not sufficient for achieving sustained social impact over time. This has led to a focus in research on microfinance organizations (MFOs) that have sought transformation into registered financial institutions. In contrast, there has been less research into performance management of MFOs with strong NGO roots (referred to here as NGO-MFOs) who have prioritized social impact over growth and transformation. The thesis explores these issues for microfinance in India, starting with a systematic literature review of secondary evidence on its social impact. Two case studies of NGO-MFOs located in Tamil Nadu (ASSEFA and CRUSADE) then provide a more ethnographic perspective on social performance management and assessment. Case study data consists of participant observation, staff semi-structured interviews and organizational documents collected primarily during fieldwork conducted between 2012 and 2013. These case studies document how NGO-MFOs view the ‘best practices’ of mainstream microfinance models (including financial performance) pragmatically while conceptualizing social performance according to their core values and social movement roots. They also illustrate how the mainstream view of social performance assessment (reflected by the review of impact evaluations) fails to capture the informal, flexible, and process-oriented approaches to social performance management pursued by some NGO-MFOs.

L’évolution des nouvelles pratiques de l’investissement socialement responsable ouvre la voie à des modes d’organisation innovants. Un grand marché est né entre l’offre et la demande, de nouvelles « architectures transactionnelles » proposant des émissions obligataires socialement responsables voient le jour. L’objectif étant de créer la liquidité et de contribuer au développement économique et social. L'étude des arrangements organisationnels qui ont abouti à émettre une obligation socialement responsable à destination de la société de gestion se nourrit de deux expériences pionnières. Le contexte organisationnel nous amène à nous interroger sur la place du gérant de fonds dans le financement de l’économie solidaire. La société de gestion de portefeuille, acteur majeur au coeur des modes d’organisations, se positionne entre les émetteurs d’obligations et les investisseurs souhaitant intégrer des critères extra-financiers dans leurs choix de sélection de portefeuille. La problématique de notre travail de recherche s'intéresse à l'étude de l’attractivité des gestionnaires d’actifs face à des mécanismes différenciés d' Economie Sociale et Solidaire. Ainsi, dans le cadre de cette thèse, nous proposons d'étudier la perception du point de vue du gérant de fonds de deux modes d'organisation différents, qui aboutissent à la construction d'un produit qualifié d’ISR dans le sens où il répond aux attentes des investisseurs souhaitant intégrer des dimensions extra-financières dans leurs choix de sélection de produits. Dans cette optique, le gérant de fonds ISR est amené à prendre des décisions quant au choix des produits dans son processus de construction du portefeuille. Il joue un double rôle de constructeur de performance ESG et d'intermédiaire financier et doit faire face à un ensemble de contraintes de gestion mais aussi vis-à-vis de ses partenaires
The evolution of the new practices of the socially responsible investment opens the way for innovative modes of organization. A big market was born between supply and demand, new "transactional architectures" proposing socially responsible bond issues. The objective being to create the liquidity and to contribute to the economic and social development.The study of the organizational arrangements which succeeded to emit a socially responsible obligation aimed at the management company feeds on two experiences pioneers. The organizational context brings us to wonder about the place of the fund manager in the financing of the united economy. The asset management, at the heart of the organization modes, is positioned between the bond issuer and the investors wishing to integrate extra-financial dimension into their choices of selection of asset.The problem of our research work is interested in the study of the attractiveness of the asset managers in the face of mechanisms differentiated of Voluntary and united Sector.So, within the framework of this thesis, we suggest studying the perception from the point of view of the fund manager of two different modes of organization, which end in the construction of a product qualified as SRI in the sense where he meets the expectations of investors wishing to integrate extra-financial dimensions into their choices of selection of products.From this perspective, the fund manager SRI is brought to make decisions as for the choice of products in its process of construction of the portfolio. He plays double role of construction social performance and financial intermediary and has to face a set of constraints of management but also towards these partners

This research study examined the implications of adaptations in organisational capacity and cultures of microfinance organisations (MFOs) in Malawi. It was conducted on the premise of three main turning points which impacted on the micro finance environment: ensuing macro-economic reforms following the adoption Structural Adjustment Programmes in 1981; political changes following the adoption of a multi-party democracy in 1993/94, and a new global paradigm shift towards commercialisation of microfinance. A case study approach was used to study three different types of MFOs: a Government owned company - the Malawi Rural Finance Company (MRFC) originally the Smallholder Agricultural Credit Administration (SACA), an NGO - FINCA Malawi and a member owned credit union - the Malawi Union of Savings and Credit Co-operatives (MUSCCO). Using the concept of the cultural web, the study analysed the paradigm shift towards commercialisation among the three case study MFOs and its impact on micro and small enterprises (MSEs). Changes in the macro-economic and political environment manifested by a competitive market and a pluralist political system triggered the dissolution of SACA due to its inefficiency, mismanagement and heavy politicisation. This led to the formation of MRFC. Whereas SACA pursued a 'welfarist' approach to financial service prOVISIon, MRFC adopted an 'institutionist' approach characterised by commercialisation of financial services. FINCA Malawi also pursued an 'institutionist' approach and continued to promote the "Village Banking" (VB) model. MUSCCO however, combined principles of both the 'welfarist' and 'institutionist' approaches. The study concludes with some learning points m the three MFOs' differential adaptations and commercialisation process: a government owned MFO shook off the image of its heavily politicised predecessor; an NGO operated as a "parallel" system to reach out to poor women, and a member owned MFO, coped with the changing environment by combining social and business principles. Therefore, provided there is a right balance, the culture of service and understanding of the poor, and banking can be complementary to each other for successful provision of microfinance services for the poor. However, the way this balance can be achieved may vary significantly according to the type of MFO and the context within which it is operating.

The use of group lending for poverty alleviation is a widespread feature of modern microfinance. The structure of joint-liability credit - if one member defaults the others are held financially responsible - produces a natural tension between a borrower's social and economic interests. This study integrates theory from economics, sociology, and behavioural experiments to address the question, "How do social and economic mechanisms interact to shape a microcredit group's financial behaviour?" The empirical analysis involves an original dataset from a microfinance institution in Sierra Leone. The total dataset includes 7,025 joint-liability borrowers involved in 47,931 repayment transactions from 2005 to 2011. The empirical methods used are diverse: ethnographic fieldwork, GPS spatial analysis, social affiliation survey design, and multilevel statistical analysis of loan performance data. The original work is structured as three distinct papers. In the first paper, I examine social collateral, the formal use of a borrower's relationships as security against loan default. How does a group's spatial structure affect the efficacy of social collateral? Spatial concentration improves a group's economic performance up to a certain level after which the effect reverses and performance declines. The relationship is driven by a social trade-off between ability and willingness to enforce the loan. Further, groups that consist of multiple spatial fragments produce worse performance. Spatially fragmented groups are prone to splitting into social factions. In the second paper, I question what drives the self-selection process of microcredit group formation. The results show that group leaders prefer members with pre-existing social ties, who are spatially proximate, and have matching business types. The preference for socio-spatial factors is likely motivated by reducing the risk of strategic default by group members. In the third paper, I explore how economic cooperation in small groups evolves over years of repeated interaction. Despite the selective retention of better performing groups, average cooperation rates consistently decline, in terms of contribution and effort. Further, variance across groups continues to increase over 30 months of repeated interaction, suggesting that convergence to a stable cooperation rate has not occurred. Given that group lending exhibits many of the factors found to promote cooperation in laboratory experiments, it is surprising to find such a marked decline in this field setting. Overall, this thesis contributes to economic sociology by dissecting the difficult trade-offs between social and economic motives in group lending and offers policy implications for microfinance institutions regarding group formation heuristics, contract design, and loan management.

La situation économique des pays en voie de développement était devenue si préoccupante à la fin des années 90 que les dirigeants du monde entier ont, lors du sommet du Millénaire de l'ONU en septembre 2000, fixé des objectifs de développement appelés Objectifs Millénaire de Développement (OMD). Centrés sur la réduction de moitié de l'extrême pauvreté d'ici 2015, les OMD visent aussi à améliorer l'accès à l'éducation. Aujourd'hui, d'après les Nations Unies, la micro-finance s'inscrit parmi les instruments indispensables à la réussite de ce projet. Une question importante est de déterminer comment la micro-finance ou les Institutions de Micro-finance (IMF) peuvent contribuer à la réalisation d'une partie des MLD dans la zone UEMOA. Quel est l'impact social, notamment sur la pauvreté et sur l'éducation, de l'activité des IMF dans la zone UEMOA ? C'est à cette question qu'est consacrée cette thèse. Elle explique l'émergence, l'efficacité, l'organisation des IMF de la zone UEMOA et définit, pour ces dernières, une place dans le système financier. Elle définit également un cadre d'analyse des liens et des causalités entre les IMF, la pauvreté et la scolarisation et mesure l'impact social de l'activité IMF. Cette thèse montre sur la base de régression en Panel, qu'à une échelle macroéconomique, le développement des IMF facilite la lutte contre la pauvreté en relevant le revenu réel moyen des populations ; Les IMF affectent également les effectifs et les taux de scolarisation dans le primaire et le secondaire. La thèse montre cependant que l'impact social des IMF sur la pauvreté et sur la scolarisation passe par l'intermédiaire du degré de pénétration et de proximité des IMF vis à vis des populations. Elle montre également que les montants ou volumes financiers mobilisés par les IMF ne sont pas les canaux par lesquels les IMF affectent la pauvreté et la scolarisation dans la zone UEMOA
The economic situation in developing countries has worsened in the late 90's. The Millenium Development Goals MDG) adopted at the Millenium Summit of the United Nationas in 2000, aims at halving extreme poverty by 2015. The MDG also aims at improving the access to education. Today, according to the United Nations, microfinance is an essential financial instrument for the success of this project. An important question is how microfinance or Microfinance Institutions (MFI's) can contribute to achieve MDG in the Economic and Moneraty Union of West Africa (WAEMU). More precisely, what is the social impact of MFI's in WAEMU and more particularly on poverty and education ? This thesis aims to answer this question by measuring their social impact. The emergence and the place of MFI's in the WAEMU as well as in the global financial systems are also analysed. In this thesis, we use panel regressions on macro-economic data and show that MFI's positively affects poverty through the variable « average real income of the population ». MFI are also found to affect the enrollment and enrollment rates in primary and secundary education. The thesis shows, however, that the social impact ot MFI on poverty and schooling goes through the penetration and the degrees of proximity of MFI's activities within the population. It also shows that the amounts or volumes of financial funds mobilized by the MFI do not affect poverty and schooling in the WAEMU

Au Cameroun, la microfinance s’affirme désormais comme un élément fort capable d’améliorer l’offre et l’accès des services bancaires des couches sociales souvent exclues. C’est la raison pour laquelle, le législateur de la Communauté économique et monétaire de l’Afrique centrale (CEMAC) avait décidé de confectionner un régime juridique spécifique pour permettre à cette nouvelle technique de financement de s’installer et de se développer tout en assurant la fiabilité des acteurs et la maîtrise des opérations. En ce qui concerne sa dimension économique, la microfinance se positionne comme un instrument majeur capable d’œuvrer pour l’intégration de l’économie dite informelle à l’économie formelle. Or, il est désormais acquis que l’économie ne fonctionnera pas sans un droit économique spécifique. Ce droit économique dont l’appréhension apparaît si nécessaire s’est traduit par le droit de l’Organisation pour l’harmonisation en Afrique du droit des affaires (OHADA). Ainsi la microfinance a la particularité de combiner des instruments juridiques de nature différente entraînant l’application de régimes hétérogènes qui offrent d'inégales garanties. Les praticiens sont donc confrontés à une grande complexité qui favorise l’opacité et facilite certaines dérives. En ce sens cette étude vise à identifier les instruments par lesquels le droit intervient sur le fonctionnement global du secteur de la microfinance, ce qui devrait permettre de mieux confronter la théorie juridique avec sa pratique et ainsi faciliter leur mise en cohérence. Par ailleurs, il est possible de se demander si un droit commun de la microfinance ne pourrait pas être dégagé
In Cameroon, Microfinance is now established as a strong element able to improve offers and access to banking services to some part of the society often excluded. That is why the Community legislature of the Economic and Monetary Community of Central Africa (CEMAC) had decided to make a special legal regime to allow this new technique of funding to settle and grow while ensuring the reliability of actors and operation’s control. Regarding the economical aspect, the Cameroon’s government had positioned microfinance as a major tool able to work for the integration of the alleged informal economy to formal economy. However, it is now accepted that the economy will not function without a specific economic law. This economic law with the apprehension that appears so necessary has been converted by the right to the Organization for the Harmonization of Business Law in Africa (OHADA). Therefore, microfinance has the distinction of combining legal instruments of different nature leading to the applications of heterogeneous systems that offers unequal guarantees. The practitioners therefore face a complexity that promotes and facilitates some opacity drifts. In this sense, this study aims to identify the instruments by which the law operates in the overall functioning of the global microfinance sector, which should allow to better confront the legal theory with its practice and to facilitate their consistency. Furthermore, it is possible to consider whether a microfinance law might not be elaborated

Over the last few decades, microfinance industry has played an essential role in alleviating poverty level and helping the underprivileged, by enabling access to myriads of financial services. Statistics from the World Bank reveals that, currently, only 4% of the underprivileged were served out of the 3 billion potential clients. Such results were due to several claims, particularly the operational and financial challenges faced by the MFIs in the constant flux, inviting more attentions towards its performance. While explicit focuses were given by many researchers towards mobile banking and Information Communication Technology (ICT) and online services in improving the MFIs performance, the study on how Social Media, as a rapidly growing online phenomenon, could affect the MFIs performance remain scarce. Hence, this study was aimed at investigating and clarifying the impact of social media on MFIs, based on four dimensional performance indicators: efficiency, financial sustainability, portfolio quality, and outreach. A model was developed utilising Resource Based-View (RBV) Theory, to test the relationship between social media application and organisational performance. A quantitative approach has been adopted employing from web-based questionnaires, to collect data from MFIs employees in developing countries such as Kenya, India and Jordan. Structured Equation Modelling (SEM) technique (i.e. SPSS and AMOS 20 software) was used as a tool to analyse the responses. Results revealed a significant influence of the social media over the MFIs performance, offering valuable insights to both researchers and practitioners in the domain of micro-finance, as well as social media – conforming that the adoption of social media as marketing, advertising and communication tools could significantly improve the MFIs performance. Keywords: Microfinance, Microfinance Institution Performance, Social Media, Resource Based View Theory.

Pour cet ensemble géopolitique dont les origines remontent aux années 70, l’heure des choix stratégiques a sonné. C’est pourquoi ce travail dont le thème est « Francophonie et microfinance » interroge l’utilité de l'Organisation internationale de la Francophonie sur la scène internationale dans un contexte de bouleversements économiques majeurs. En effet, au regard de sa vocation première d’union géoculturelle, la Francophonie peut-elle s’approprier l’outil économique qu’est la microfinance ? Notre contribution interroge donc également la microfinance, pour en saisir la dynamique mondiale. A travers la description du phénomène qu’elle représente, ce qui importe est d’identifier les acteurs, les raisons qui motivent leur choix pour cet outil et les limites auxquelles les nations ou acteurs internationaux se heurtent dans la pratique de la microfinance. Il s'agit d'une approche centrée sur des études de cas (France, Québec, Gabon et Sénégal) qui, dans un dialogue interdisciplinaire, convoque la théorie des organisations pour mettre en lumière les initiatives de l'OIF et leurs limites en même temps que cette étude s'inscrit dans le champ des relations internationales explorant les collaborations entre l’Organisation, son environnement, et les populations francophones en leur qualité de bénéficiaires finales
For this geopolitical union whose origins date to the 1970s, the time for strategic choices has come. That is why this thesis "The Francophonie and Microfinance" questions the usefulness of the Organization on the international scene, in a context of major economic upheavals. Indeed, with regard to its primary geocultural purpose, can the Francophonie appropriate this economic tool? Our contribution therefore also queries microfinance to understand how it works all over the world. Through the description of the phenomenon it represents, what matters is to identify stakholders, the reasons that motivate their choice for this tool and the limits to which nations or international actors face in its practice. This approach based on cases (France, Quebec, Gabon and Senegal) calls the theory of organizations to put in effect the initiatives of the Francophonie and their limits, in an interdisciplinary dialogue. This study also fits into international relations exploring collaborations between the Organization, its environment, and French speaking populations as final beneficiaries

Over the last decades the topic of microfinance as a method to alleviate poverty has been debated to a large extent in the academic literature. In India, the method of Self-Help Groups (SHGs) is today widespread among Non-Governmental Organizations (NGOs) and has been proven to empower women economically and socially. Alongside, NGOs have increasingly directed their efforts towards more long-term development strategies, in which knowledge has gained a larger attention as a component to sustainable development. Even though literature from different research streams has confirmed that there is a need for effective knowledge transfer between NGOs to reach and empower the female end beneficiaries in the NGO-sector, few theoretical attempts have been made to understand the organizational dynamics behind knowledge transfer in an NGO-context. That is why we wished to further understand knowledge transfer in an NGO-context. Our purpose is to explore what it is that makes knowledge become transferred throughout an NGO-chain in order to reach the end beneficiaries. To answer the research question of what variables affect knowledge transfer throughout the actors in an NGO-chain and what factors determine these variables, a case study was conducted on an NGO-chain working towards SHGs in Uttarakhand, Northern India. Interviews have been conducted with leaders and staff of one foreign and one local NGO and two focus groups have been held with participants of SHGs. The findings show that several of the variables that research within knowledge management previously have found, including trust, communication, organizational culture and absorptive capacity, do have an influence on the transfer of knowledge throughout the NGO-chain. Furthermore, the variables networks, relationships, and organizational strategy were also shown to impact the outcome of the knowledge transfer. Moreover there are several factors in the intra-organizational and inter-organizational dynamics of the NGO-chain that determine whether each variable has an inhibiting or enabling effect on knowledge transfer.

Cette thèse interroge les processus de communication qui autorisent la construction du microcrédit - pratique de prêts à des personnes pauvres - comme cause internationale. Un réseau d’acteurs nommé « Campagne du Sommet du Microcrédit » milite activement pour sa reconnaissance en tant qu’outil de lutte contre la pauvreté. L’étude de ses pratiques et des formes de son discours éclaire les conditions de possibilité logistique et symbolique de la conversion d’une technique financière en cause louable, endossable et universalisable.L’approche communicationnelle de cet objet se formule au croisement de deux axes théoriques qui forment les deux niveaux d’analyse d’un matériau composite - documentaire et ethnographique.Le premier axe concerne la démarche stratégique d’« entrepreneurs de cause » qui défendent une thématique et en accompagnent la trajectoire publique. Il questionne les conditions de la visibilité de la cause et met, ainsi, en évidence les contraintes d’une exigence de visibilité et les normes d’action et de justification qu’elle impose aux acteurs.Le second axe s’attache aux médiations symboliques - formes intercalaires, rémanentes et circulantes - qui incarnent la cause en-Deçà et au-Delà des déclarations d’intention. Il interroge, alors, sa lisibilité en élucidant les régimes de construction de deux figures nécessaires et complémentaires - le micro et le macroentrepreneur - et leurs effets de sens paradoxaux.La thèse confronte donc les « arrière-Pensées » des formes aux intentions stratégiques des acteurs qui les mobilisent et éclaire ainsi la mécanique d’inscription d’une perspective contemporaine du traitement de la pauvreté dans son « ordre de discours »
Microcredit is a widespread financial tool, originally designed to lend small amounts of money to very poor people.This thesis questions the communication processes that enabled its construction as an international cause. Microcredit Summit Campaign is a network of organizations that strongly advocates for the acknowledgement of microcredit as a tool to fight poverty . The study of its practices and the forms of its discourse highlights the logistic and symbolic conditions required for the conversion of a financial theory into a praiseworthy, endorsable and universal cause.Drawing on a discourse and semiotic analysis of documented and ethnographical sources, the communicational approach of this topic links together two theoretical perspectives.On the one hand, it focuses on Microcredit Summit Campaign as a social movement organization and discusses the symbolic constraints imposed by a requirement for visibility in the public sphere. It influences their eligibility as spokeperson, their standards of action and their modes of justification.On the other hand, the thesis questions the legibility of microcredit as a cause. In this perspective, it analyzes the symbolic mediations that allow it to be embodied. To support the analysis, two compatible actors – “microentrepreneur” and “macroentrepreneur” - are strategically used in the discourse. The study of their characteristics reveals a paradoxical symbolic meaning and effect.Thus, the thesis confronts the "ulterior motives" of the semiotic forms used to support the discourse with the strategic intentions. In doing so, it sheds light on how a contemporary perspective on treating poverty is symbolically integrated in its " orders of discourse "

L’agriculture et le secteur rural jouent un rôle primordial dans le processus de développement des pays à base agricole. Cett efonction ne peut être assurée qu’à l’aide de politiques publiques qui tiennent compte de la diversité et de la complexité desmilieux ruraux. Le préalable est donc d’avoir des connaissances approfondies de chaque contexte et des dynamiques qui ysont en cours. Ce travail propose alors d’analyser, dans une perspective microéconomique, les relations entre structurationsociale des milieux ruraux et transformation structurelle avec une application à Madagascar, dans la région d’Itasy. La class ede la Petite Prospérité, qui est une adaptation de la notion de classe moyenne en milieu rural pauvre, est alors utilisée commegrille d’analyse. A cette fin, la première étape de recherche consiste en une construction conceptuelle, théorique etméthodologique de la classe de la Petite Prospérité en mobilisant le cadre conceptuel des moyens d’existence ruraux afin deproduire un cadre d’analyse opérationnel. Dans un second temps, le cadre défini est mis en oeuvre dans la stratificationmultidimensionnelle de l’espace social en Itasy à l’aide d’une méthode de classification mixte sur des données quantitativesde 2008. Cette étape permet de mettre en évidence les différentes classes sociales et de Petites Prospérités en Itasy quireflètent l’hétérogénéité de la nature et de l’efficacité des moyens d’existence des ménages ruraux. Dans une troisième étape ,une analyse dynamique des groupes de Petites Prospérités est menée à l’aide de la combinaison de méthodes quantitatives etqualitatives sur une période d’observation longue. Plusieurs trajectoires associées aux différentes classes sont observées etpermettent de comprendre les processus de construction et de transformation des organisations productives familiales enItasy. La dernière étape du travail traite la problématique spécifique de la demande de crédit et de l’adéquation de l’offre surle marché financier en Itasy. Il apparait une forte segmentation de la demande de financement en fonction des groupessociaux et la difficulté de l’offre disponible à satisfaire leurs besoins, malgré l’existence de produits innovants. Des politiquesinclusives et adaptées à chaque classe de ménages s’avèrent donc nécessaires pour assurer un processus de transformationstructurelle rapide et harmonieux en Itasy
Agriculture and rural sector play a key role in the development process of agriculture-based countries. This function can beensured only by public policy that takes into account the diversity and complexity of rural areas. It is therefore essential todeepen the knowledge of each context and the ongoing dynamics. This study introduces an analysis of the relationshipsbetween rural social structure and structural transformation through a microeconomic perspective, with an application inMadagascar, in the Itasy region. Specifically, the Moderate Prosperty class, which is an adaptation of the middle class notionto poor rural areas, is used as an analytical framework. To this end, the first step aims to conduct a conceptual, theoretical andmethodological construction of the Moderate Prosperity notion by using the rural livelihoods framework and provides anoperational conceptual framework. Second, the conceptual framework, thus defined, is used to implement a multidimensionalstratification of the social space in Itasy by conducting a classification method on quantitative data dating from 2008. Thisstep aims to define the various Moderate Prosperity and social classes that reflect the heterogeneity of the nature andprofitability of the rural households’ livelihoods. Third, a dynamic analysis of the Moderate Prosperity groups is conductedby combining quantitative with qualitative methods based on a longer observation period. Several trajectories linked to thevarious classes can be observed. They allow us to understand the construction and transformation process of the familyproductive organizations in Itasy. The last step uses the Moderate Prosperity framework to study the specific issue of thecredit demand and the supply adequacy on the financial market in Itasy. It appears that the financing demand is highlysegmented according to the social groups and the available supply cannot meet their financing needs, despite the existence ofinnovative products. Inclusive policies that are adapted to each household profile are therefore necessary to ensure a rapidand harmonious structural transformation in Itasy

Cette recherche a tenté de comprendre et d’analyser les pratiques de finance solidaire informelle en Kabylie, en l’occurrence le rôle des caisses villageoises et la gestion des biens collectifs. En effet, nous avons analysé le système de solidarité villageoise et les réseaux informels autour desquels se mobilisent et se structurent les financements comme les réseaux des émigrés établis à l’étranger et organisés en associations communautaires. C’est à partir de ce contexte socioéconomique des communautés villageoises de la Kabylie, caractérisé par l’encastrement des pratiques de financement solidaire dans les valeurs socioculturelles et l’auto-organisation des villages, que nous avons posé notre problématique. Celle-ci s’articule sur leur logique de leur fonctionnement et l’intérêt de l’institutionnalisation des caisses villageoises en organisations de l’économie sociale et solidaire en général et de finance solidaire en particulier à l’instar des banques communautaires et coopératives inter-villageoises à l’échelle de la Wilaya. Autrement dit, nous avons posé la problématique de la professionnalisation et de l'institutionnalisation des caisses villageoises comme facteur susceptible de renforcer leur pérennisation et leur efficacité dans le financement et la gestion des biens collectifs des villages kabyles
This research has attempted to understand and analyze the practices of informal solidarity finance in Kabylie, in this case the role of village banks and the management of public goods. In fact, we have analyzed the village solidarity system and the informal networks around which funds and networks are mobilized and structured, such as the networks of emigrants established abroad and organized in community associations. It is from this socio-economic context of the village communities of Kabylia, characterized by the embedding of practices of solidarity financing in the socio-cultural values and the self-organization of the villages that we posed the problematic of their operation and the interest of their institutionalization in organizations of social and solidarity economy in general and solidarity finance in particular like the community banks and inter-village cooperatives at the scale of the Wilaya. In other words, we have raised the issue of the professionalization and institutionalization of village banks as a factor likely to strengthen their sustainability and effectiveness in the financing and management of the collective goods of Kabyle villages

Thesis (DTech. degree in the Business School)--Tshwane University of Technology, 2007.
This dissertation seeks to establish whether microlenders in South Africa aimed at the rural poor with the purpose of poverty alleviation are or can be self-reliant, self-sufficient and ultimately self-sustaining. This question arose because typical micro finance clients are low-income persons that do not have access to formal financial institutions. Access to conventional formal financial institutions, for many reasons, is inversely related to income: the poorer you are, the less likely that you have access. On the other hand, the chances are that, the poorer you are, the more expensive or onerous informal financial arrangements (Sapovadia, n.d ). A lot of studies have been carried out in other countries, especially developing countries on other similar development microlenders such as the Grameen Bank in Bangladesh that have successfully managed to extend credit to the poor by embarking on alternative or rather unorthodox methods, such as group-lendingthat are not used by formal financial institutions such as commercial banks. Since the poor borrow relatively small amounts that may not even cover all transaction costs, these methods are aimed at among others reaching a huge number of poor people simultaneously to ensure that at least all transaction costs are covered. South African and other development microlenders in the world have attempted to replicate this methodology of lending without the same level of success. The South African situation is further complicated by the South Africa’s economy, which is unique to economies of other developing countries. South Africa has one of the world’s worst income inequalities that have resulted in a dual economy comprising of a first world and third world economies in one country. However donor funding is extended to South African microlenders with basically the same requirements especially with regard to the expectation that the microlenders must attain or promise to be self-sufficient within a certain or specific period in time. “Donors, governments, and many analysts regard sustainability as the benchmark of microfinance institutions’ (MFIs) performance” (Baumann, 2004). This study used requirements by donors as a yardstick to measure the sustainability of development microlenders in South Africa to establish if the alternative method of microlending has yielded the desired results. These results were also critically compared to the microlenders in developing countries to establish specific parallels and contrasts that might be brought about by the South Africa’s unique situation. Data relating to specifically operational and financial self-sufficiency was collected from South African microlenders who are lending for poverty alleviation purposes. This data was analysed to establish whether such organisation are selfsufficient or not. Findings indicated that microlenders in South African in spite of using alternative methods to credit granting such as group lending to exploit social capital that exist in poor communities, most of them are neither self-sufficient or self-sustainable. Further to this it was established that the South African situation does not allow for a direct comparison to microlenders in other developing countries because of South Africa’s dual economy.

M.Comm.
Microfinance refers to the provision of financial services, in particular small loans in the context of South Africa, to poor people with very small businesses. Commercial banks have largely considered poor people in remote areas unbankable, because they lack collateral and have no credit histories. Microfinance institutions emerged as unconventional institutions with innovative techniques, mechanisms and instruments to advance financial services to this segmented part of the population. This has, however, not been without challenges. Microfinance institutions face a number of challenges such as lack of competent human capital, unfavourable regulatory environment, and insufficient financing. The study examines if these challenges are applicable in the South African context and whether financial and operational inefficiency has hindered microfinance institutions in South Africa from sustainably increasing their outreach through the provision of microcredit. It surveys two microfinance institutions, characterised as non-governmental organisations using the group lending methodology to offer microloans to the very poor. The results indicate that microfinance institutions are not on a sound fiscal footing, and large operating expenses have resulted in some form of inefficiency. This has, however, not hindered the microfinance institutions from reaching a greater number of borrowers. The witnessed increased outreach in number of clients reached is considered unsustainable given the existence of inefficiency and financial weakness. The results suggest a number of policy options on the side of government and the institutions concerned. Increasing the funding sources available to microfinance institutions should be considered by both government and private institutions. This policy would succeed if microfinance institutions work at reducing their operational costs and become both efficient and sustainable so as to be seen as viable investment options.

This study set out to identify the specific success factors and impacts microfinance has for poor women who predominate in microfinance programs and to articulate policies to raise poor women above subsistence level in India. The study collected data from 200 poor female member of two organisations Vagad Region Service Research Organisation and Self Employed Women’s Cooperative Bank in India. The three data sets from surveys, case studies of selected members and interviews with staff from the respective organisations were triangulated. The results indicate membership of SEWA and VLSSS, gives members access to financial and non- financial products and services which enable them to improve their general standard of living. The poor female members predominate in microfinance because they value access to credit have high repayment rates, invest in the family, and use credit to escape social restrictions. Polices that can assist poor women to rise above subsistence level include providing access to decent health care, vocational training, and functioning education system, investment in public transport and road infrastructure and licences to run a business.

The first aim of this research was to examine the current financial technologies, outreach and fmancial viability over time (from 1997 to 2002) of four MFOs providing agricultural, microbusiness and consumption credit in KwaZulu-Natal (KZN), South Africa (SA). Understanding the limitations and advantages of these financial technologies could facilitate institutional reform to improve access by low-income people to viable formal financial services in KZN. The second aim of this study was to estimate factors that affect the credit rationing decision and applicant loan default at the MFO providing consumption credit (MFOI), and the factors affecting default on medium-term agribusiness loans provided by MF02 which was one of the agricultural MFOs. These analyses were intended to help to improve client selection procedures and to reduce loan default rates at these MFOs. Study results show that institutions that finance specifically agricultural activities could improve the quality of their services by providing better access to branches and reducing loan approval times through improved screening and administrative procedures. Making financial services (consumption and production loans) available to both non-agricultural and agricultural sectors would also help to reduce portfolio risks resulting from the covariant incomes of small farmers. Savings mobilisation should also be considered, although institutions need to develop appropriate capacity to handle savings before mobilising deposits. The study shows too that the rural poor in SA have the capacity to save (for example, the average number of active savings accounts held by individuals at MF02 rose to 474 052 in 2002). Study results also suggest that the provision of both savings and loan services helps an institution to reduce borrower transaction costs in accessing financial services and means that savings can serve as a form of collateral and borrower information for lenders. Lenders need to charge interest rates that reflect the true cost of lending in order to cover costs, given that small loans to the rural poor in SA are risky and costly to administer. Charging a suitable interest rate, however, is not a sufficient condition for achieving financial self-sustainability. Reducing high arrears through stricter loan contract enforcement will also promote the financial self-sustainability of MFOs in SA. Moveable assets, such as vehicles and equipment, were not effective sources of collateral due to the high costs of attaching these assets in rural parts of KZN. Cessions on sugarcane crops were often constrained by flaws in collection mechanisms, where borrowers could deliver sugarcane to sugar mills on non-borrower quota numbers. Secure and transferable property rights were important preconditions if land was to have value as collateral. Collateral substitutes such as joint liability mechanisms were less effective when lending to large farmer groups (30 - 60 members) compared with small groups (4 - 6 individuals) of micro-entrepreneurs operating in urban areas in SA. Costly legal action to recover debts further undermined borrower accountability for loan repayment and thus did not discourage morally hazardous activities. Reputational capital was an integral part of the financial technology successfully used by MFO1, and could be more effectively developed by agricultural lenders in SA if they strictly enforce the policy of denying borrowers access to future funds if they default on previous loans. Based on data over the period 1998 to 1999, less contactable borrowers that were employed in sectors with a high likelihood of retrenchments, with higher debt-to-income ratios and with more defaults and payment profile arrears, were more likely to be credit-rationed by MFO1 staff. Applicant contactability was another key part of MF01's monitoring intensive financial technology, but constrains MFO1 from broadening its financial services to small businesses if these are not easily contactable. Credit bureau information on previous loan default was critical in this microfinance market where it is difficult to obtain formal collateral. The policy implication is that lenders need to share default information and credit bureaus need to correctly capture this information. Borrowers with higher debt commitments, previous loan defaults, who were less contactable and who worked in sectors where employment was less secure, were more likely to default at MFO1. Low-income borrowers had lower levels of liquidity that reduced their ability to repay debt. The influence of contactability in loan repayment highlights the trade-off between monitoring-intensive and collateral-intensive technologies. Although MFO1 used reputational capital as a collateral substitute, the imperfect nature of this collateral type necessitated intensive client monitoring. Lender MFO1 also needed a well-diversified portfolio across employment sectors to reduce the impact of systemic income risks. The impact of previous credit history on loan repayment suggests again that this information can be an effective collateral substitute if information is shared between lenders, and the rule of not granting credit to defaulters is strictly enforced. Based on data over the period 1993 to 1994, borrowers with smaller loans (lower asset bases and smaller businesses), lower own equity contributions, engaged in contract ploughing and cartage or broiler production ventures, with lower liquidity and with no previous borrowing experience, were more likely to default of MF02's medium-term agricultural loans. Larger borrowers had well-diversified asset bases that enabled them to better withstand negative income shocks and reduced the need to divert funds for loan repayment to current consumption. Improved liquidity generated from other sources of income (such as wage remittances and other business ventures) also improved loan repayment ability. Lenders thus need to focus on all sources of income, not just on the income generated by the investment project for which finance is provided, in assessing client repayment capacity. Ploughing contractors probably need closer monitoring to ensure that equipment is properly maintained and that sufficient income can be generated from the business to repay loans. These contractors could also be encouraged to diversify into contract transport activities that provide more regular income. Given the increased competition and periodic outbreak of disease in the chicken industry when the study was conducted, borrowers should be encouraged to diversify to reduce price risk. Increasing the owner's equity stake in the investment, while a second-best option, may be a suitable alternative where collateral is ineffective in enforcing loan contracts. Borrowers that had an established record with the lender tended to repay their loans, again highlighting the importance of reputation in a borrower-lender relationship.
Thesis (Ph.D.)-University of Natal, Pietermaritzburg, 2003.

Cette thèse est composée de trois essais portant sur la performance des Institutions de Microfinance (IMFs) évaluée a I'aide de la méthode d'enveloppement des données (Data Envelopment Analysis ou DEA). L'objectif general est de voir si ces institutions qui doivent faire un compromis entre leur rôle social et leur rentabilité financière opèrent de facon efficace. Le premier essai est centré sur les IMFs de I'Union Éconornique et Monétaire Ouest Africain (UEMOA). Dans un premier temps, nous évaluons suivant les aspects opérationnel, coût, revenu et profit l'efficacité relative des IMFs dans chacun des sept pays de I'UEMOA. Dans un deuxièrne temps, nous déterrninons les sources d'inefficacité dans Ie temps et d'un pays par rapport à un autre en utilisant l'indice de productivité de Malmquist. Ces sources peuvent être dues soit au progrès technologique (innovations dans Ie secteur qui entrainent un déplacernent de la frontière efficace), soit au changement d'efficacité technique (déplacement par rapport à la frontière). Les résultats montrent que Ie niveau d'efficacité est homogène à l'interieur d'un mêrne pays, mais qu'il diffère d'un pays à l'autre. En tenant compte du prix de leurs ressources, nous observons également que les IMFs ont la possibilité de minimiser leurs coûts. Ce manque d'efficacité maximum au niveau des coûts entraine une moindre efficacité au niveau des revenus et des profits. Nous observons aussi, avec l'indice de productivité de Malmquist, que Ie niveau de productivité dans Ie secteur résulte plus du progrès technologique que de I'amélioration de I'efficacité opérationnelle (technique). Dans Ie deuxièrne essai, nous comparons la performance des IMFs dans trois régions géographiques (Afrique, Asie du Sud et de l'Est et Amérique Latine). L'objectif est d'analyser l'impact des structures environnementales ou régionales sur l'efficacité opérationnelle, coût, revenu et profit des IMFs. Les résultats montrent des niveaux d'efficacité comparables en Asie et en Amérique Latine. L'Afrique est quelque peu en marge de ces deux régions. De façon générale, nous constatons une faible efficacité coût et, en conséquence, des efficacités économique, revenu et profit relativement faibles. L'indice de Malmquist montre également que la productivité dans le secteur est principalement attribuable au progrès technologique. Le troisième essai analyse I'impact du statut de I'IMF sur son niveau d'efficacité. Les IMFs ont généralement Ie statut de coopératives (COOP), d'institutions financières non bancaires (IFNB) ou d'organisations non gouvernementales (ONG). Depuis quelques années, certaines institutions adoptent Ie statut de banque. La question est de savoir sl la structure organisationnelle de I'IMF a un impact sur son niveau d'efficacité relative. Lorsqu'on évalue les IMFs sur Ie plan opérationnel selon un rendement d'échelle variable, les résultats montrent que celles ayant Ie statut de banque sont plus efficaces que les autres formes juridiques . Les COOP présentent généralement un faible niveau d'efficacité technique. Les ONG et les IFNB se situent entre ces deux types de structures. Tout comme dans le cas précédent, nous trouvons une faible efficacité coût, ce qui se répercute négativernent sur les efficacités éconornique, revenu et profit. Quant aux sources d'inefficacité, nous observons qu'elles sont principalement dues aux inefficacités techniques plutot qu'aux innovations technologiques. En conclusion, tout d'abord au niveau des pays de l'UEMOA, cette thèse montre que les IMFs sont plus performantes dans un environnement politique stable. On constate aussi que les IMFs de certains pays auraient intérêt a copier les pratiques d'autres pays en vue d'améliorer leur performance. Ensuite, I'analyse portant sur différentes zones géographiques révèle,à tout Ie moins sur la base de nos critères,que les IMFs sont comparativement moins performantes en Afrique. Peut-être pour des raisons de stabilité politique ou d'environnements éconornique, juridique et social différents, ou encore d'un attrait plus faible de capitaux etrangers, Peut-être aussi à cause d'une structure d'opération (par exernple : coopératives, organismes non gouvernementaux, institutions non bancaires) différente des IMFs d'une zone géographique à I'autre. Sur ce dernier point, les résultats montrent que les IMFs qui opèrent sous Ie statut de banque sont relativement plus efficaces que les autres.