About Proximity finance
Proximity Finance: Empowering Rural Farmers in Myanmar
Proximity Finance is a social enterprise based in Yangon, Myanmar that aims to empower rural farmers by providing them with affordable and income-boosting products and services. The company was founded in 2004 by Jim Taylor and Debbie Aung Din Taylor, who saw the potential of smallholder farmers to drive economic growth in Myanmar.
The company's mission is to create sustainable livelihoods for rural communities through innovative financial solutions. Proximity Finance offers a range of financial products and services, including loans, savings accounts, insurance, and agricultural inputs such as seeds and fertilizers. These products are designed to meet the unique needs of smallholder farmers who often lack access to formal financial institutions.
One of the key features of Proximity Finance's approach is its focus on proximity. The company has established a network of over 100 branches across Myanmar that are strategically located near farming communities. This allows farmers to easily access financial services without having to travel long distances or navigate complex bureaucratic processes.
Proximity Finance also places a strong emphasis on technology. The company has developed a mobile app that allows farmers to apply for loans, check their account balances, and receive updates on market prices for their crops. This technology not only makes it easier for farmers to access financial services but also helps Proximity Finance collect data on customer behavior and preferences.
In addition to its financial products and services, Proximity Finance also provides training and education programs for rural farmers. These programs cover topics such as crop management techniques, marketing strategies, and basic business skills. By equipping farmers with these skills, Proximity Finance aims to help them increase their productivity and profitability over the long term.
Proximity Designs' impact has been significant since its inception in 2004; it has served more than one million customers across Myanmar with $300 million worth of loans disbursed so far! It has helped thousands of families improve their livelihoods and build a better future for themselves and their communities.
Proximity Finance's commitment to social impact has not gone unnoticed. The company has received numerous awards and recognition for its work, including the Skoll Award for Social Entrepreneurship in 2017. This award recognizes organizations that are driving positive change in the world through innovative solutions to social problems.
In conclusion, Proximity Finance is a shining example of how social enterprises can create sustainable livelihoods for rural communities. By providing affordable financial products and services, as well as training and education programs, Proximity Finance is empowering smallholder farmers to take control of their economic futures. With its focus on proximity and technology, the company is well-positioned to continue making a positive impact in Myanmar's agricultural sector for years to come.