This article describes the recent turn around experienced by South Africa's largest NGO microlending programme. In 1993, Get Ahead's Stokvel Lending Programme was in trouble: 50 per cent of the portfolio had to be written off, employee morale reached rock bottom, and costs were too
high for the portfolio size. By 1996 the programme had nearly 10 000 active borrowers and an annual loan loss rate of less than 3 per cent. Cost ratios and staff morale have significantly improved. Get Ahead's shift to the new paradigm in microfinance, while not complete, provides some interesting
lessons for the microfinance community.

Success Factors of Microfinance Institutions: State of the Art and Research Agenda

Pinz, Alexander

Helmig, Bernd

VOLUNTAS: International Journal of Voluntary and Nonprofit Organizations, Vol. 26 (2015), Iss. 2 P.488

https://doi.org/10.1007/s11266-014-9445-2 [Citations: 7]

Local economic development: Policy and practice in South Africa

Nel, Etienne L

Humphrys, Graham

Development Southern Africa, Vol. 16 (1999), Iss. 2 P.277

https://doi.org/10.1080/03768359908440077 [Citations: 12]