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Microinsurance to Protect Poorest Haitians

Anne Hastings

Chief Executive Officer of Fonkoze Financial Services, Haiti

"Microinsurance and other risk mitigation tools help protect business assets in countries prone to natural disasters," Anne Hastings

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"Microinsurance to protect the poorest Haitians was part of an IdeasLab 'Haiti, Building back better", January 2011. Full bio, links and summary

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'Microinsurance to protect the poorest Haitians was part of an IdeasLab 'Haiti, Building back better', January 2011.
Full bio, links and summary
Anne Hastings

Anne Hastings

Chief Executive Officer of Fonkoze Financial Services
Fonkoze , Haiti

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Speaker

Anne Hastings is the Chief Executive Officer of Fonkoze Financial Services – Haiti’s Alternative Bank for the Organized Poor. Since 1996, under her leadership, the institution has grown from two volunteers to over 830 full-time employees. It is now the largest microfinance institution in Haiti with more than 50,000 borrowers and over 230,000 savers.Before coming to Haiti, Anne had fifteen years of experience in providing strategic management services to executives and in managing young organizations for high performance and steady growth. Anne holds a PhD from the University of Virginia. She completed research fellowships at the Brookings Institute and the Advisory Commission on Intergovernmental Relations. In 2008 she received a United Nations award for commitment to elimination of extreme poverty and hunger. In 2010, Anne was recognised as Schwab Social Entrepreneur for Latin America. She has an honorary doctorate in Business Leadership, from Duquesne University. 

Presentation Summary

All Haitians deserve a chance to participate in the economic development of their country, particularly women, who often lack access to credit and skills training. Fonkoze, a Haitian microfinance institution focused on poor women in rural areas, offers women access to a full range of financial and educational services and accompanies them as they struggle to make their way out of poverty. There is no single pathway out of poverty: some women are born microentrepreneurs; others prefer to have a job. In a country with 70% unemployment, ensuring there are jobs for those who need them means strengthening the small and medium enterprise sector. SMEs are the motor for job creation. The challenge is to increase access to credit and business development services. At the same time, micro, small and medium entrepreneurs need tools for protecting the assets they build. In a country prone to natural disasters, this means developing catastrophe microinsurance and other risk mitigation tools.