In 2004, the foundation for Social Enterprise Development Partnerships, Inc. (SEDPI) was laid with a simple but compelling vision—to become a sustainable social enterprise for the economic empowerment of the poor. Since then, SEDPI has been affirming this vision by spreading the best microfinance and social entrepreneurship practices to various points of the globe.
Microfinance is the provision of financial services to low-income households—entire families or small businesses that lack finances and collateral, and are likely ineligible for commercial financial services. Microfinance has the potential to transform the lives of the poor, as it can give them capital to start a modest venture, tuition for school, or loan to repair a house. But many microfinance institutions (MFIs) lack the necessary knowledge, tools, and strategies to deliver services that fit the needs and preferences of the underprivileged. Moreover, the poor who are recipients of the microfinance services or remittances from abroad may themselves require financial knowledge and discipline.
Social entrepreneurship is a potent strategy to achieve both financial sustainability and social objectives. SEDPI strives to provide capacity building services to social enterprises (SE) since they have the potential to create employment for the poor, protect the environment and advocate human rights among others.
Like a nurturing steward, SEDPI has been growing the capacity of MFIs and SEs –helping them balance social and financial goals. It has also given financial education to remittance senders and receivers. Through these approaches, SEDPI has been putting homes, communities, and societies in a better position to protect and sustain themselves.