How we run a micro-finance business in Cambodia...

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CEOCambodiaNews
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How we run a micro-finance business in Cambodia...

Post by CEOCambodiaNews »

From the horse's mouth...

Get Me My Wedding Present: How We Run a Micro-Lending Business in Cambodia
17 September 2017
Business is increasingly globalized and decentralized, and we live in challenging times.

A couple of years ago I thought I needed a new challenge in my life, and some time later we packed and moved to Southeast Asia to turn a new page and become pioneers in the payday loan industry. We saw it as an opportunity to enable global inclusion for unbanked people, so in our venture my wife and I chose Cambodia for our home base...

Full article: https://cointelegraph.com/news/get-me-m ... n-cambodia
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AlonzoPartriz
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Re: How we run a micro-finance business in Cambodia...

Post by AlonzoPartriz »

Good find.
It seems Dzyatkovsky has used the Trump method to gain insight into and direct the market. Facebook data mining.

Here's some points from the company's analysis that could be talking points. (Or not).


"
Our Cambodian lessons

Having developed a real business in Cambodia, we developed a simple checklist to score a country and find out whether it might work to run operations there. Some might find it useful, especially when looking towards promising Southeast Asian countries:

A growing share of the middle class due to the growth of GDP. For instance, Cambodian GDP grew six percent in 2016.

A market capable of generating cheap leads. We discovered all Cambodians belonging to the target audience have at least one active Facebook account, and for them Facebook often equals Internet in general: every national mobile operator provides free access to Facebook.

Dormant or non-existent competition. in Cambodia there were no paperless lending services without an escrow of land or real estate property.

Eager audience in need of a product. when we were checking out the market, we found only five percent of the population had a credit record. According to McKinsey, the number of ‘unbanked’ people in Asian region overall ranges from 65 to 80 percent of the adult population.

Collaboration at the local level. It helped us understand local customers and comply with local regulations (in this case you must be ready to assign 51 percent of your newly established company to a local partner).

Also,
"
For us as Europeans, the first surprise was the population’s absolute trust in local banks.

"There are 36 banks per 1.5 mln urban residents in Pnom-Penh, Cambodia. No bank has ever failed or had its license withdrawn. Fraud is literally unheard of."




Seems like one of the world's major problems has been the amount of debt countries and individuals have accrued. Solution? Get more countries involved in debt burden. You'll need to be off- Earth to get away from it all soon. The only people who can afford to do that are the lizard people. Lol.
See crook!!!
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Re: How we run a micro-finance business in Cambodia...

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Doesn't make sense that he said less than 5% have a credit record and 70% are unbanked but then says there's complete trust in banks.
The opposite is true.

You do know that David Icke doesn't actually mean "lizard people" but an oft persecuted race of people.
If he said the real meaning he'd be labeled a racist, or that other word they like to bandy around.
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Re: How we run a micro-finance business in Cambodia...

Post by prahocalypse now »

bangkokhooker wrote: Mon Sep 18, 2017 11:08 am Doesn't make sense that he said less than 5% have a credit record and 70% are unbanked but then says there's complete trust in banks.
The opposite is true.

You do know that David Icke doesn't actually mean "lizard people" but an oft persecuted race of people.
If he said the real meaning he'd be labeled a racist, or that other word they like to bandy around.
What's 'that other word'?

Is it 'cunt'?
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Re: How we run a micro-finance business in Cambodia...

Post by frank lee bent »

i think it means rofschildren
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Re: How we run a micro-finance business in Cambodia...

Post by John Bingham »

Anyone who gives David Icke the slightest credit or uses his terminology is a lost-it case and deserves to be locked up in an asylum.
Silence, exile, and cunning.
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frank lee bent
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Re: How we run a micro-finance business in Cambodia...

Post by frank lee bent »

yep- being mad is lucrative it seems once the marketing is set up
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Re: How we run a micro-finance business in Cambodia...

Post by AlonzoPartriz »

bangkokhooker wrote: Mon Sep 18, 2017 11:08 am Doesn't make sense that he said less than 5% have a credit record and 70% are unbanked but then says there's complete trust in banks.
The opposite is true.

You do know that David Icke doesn't actually mean "lizard people" but an oft persecuted race of people.
If he said the real meaning he'd be labeled a racist, or that other word they like to bandy around.

I found this bit highly amusing as well. Forget the lizard ref. It was just a joke, although it seemed to switch on at least two user's reptilian parts of the brain. :stir:

"
Look at who you hire - they are a reflection of your average customer

We have learned the hard way how it is to find local employees, which led us to a number of cultural discoveries. This was a way to learn our potential customers and get a deep-dive into their peculiarities and psychology.

They are not kings of planning and forward-thinking. This explains loan services’ popularity over long-term deposits or projects: the key goal for a person is to get some money for immediate purpose - right here, right now.

Patriarchal society and strong nepotism contribute to employees’ motivation. When hiring, we had to persuade our employees that our company is their family and the manager is a patriarch, in order to motivate them.

Teamwork matters.

The Cambodians, as many people in South-East Asia, tend to be very social and they work more effectively in teams rather than individually, which presents a striking contrast to European or American individualism.

Money is not the key driver and motivator.

Earning is not the main reason why Cambodians go to work. An employee can quit anytime they feel they are treated badly, and nothing can hold them - they are likely to leave the very second they feel their work is not appreciated or valued. This helped us to understand why a lot of our borrowers change their jobs quite a lot and adapt the scoring system accordingly.

Big fail on this one.^ Although, I am willing to discuss it. Seems like they got the family bit - then threw it out the window.


Single-tasking beats multi-tasking.

Cambodian employees are not great multitaskers. They are not capable of working efficiently when burdened by several KPIs simultaneously.

As a foreign company, you have to earn the locals’ trust. Foreign companies are not trusted a lot, so to improve corporate image as a good employer, you need to put forward some advantages of having a working relationship with you.
See crook!!!
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