MICROCAPITAL BRIEF: EBay, Grameen Foundations Partner to Launch Mobile Marketplace, Transaction Platform to Increase Financial Inclusion in Indonesia

The eBay Foundation, the charitable arm of US-based online marketplace eBay, and Grameen Foundation, a US-based nonprofit that aims to increase financial and technological opportunities for people in poor countries, have announced a partnership to design and launch two technology services intended to increase financial access in Indonesia. The first is a mobile marketplace for goods and services that can be accessed via mobile phone, and the second is a mobile transaction platform for financial services such as bill payment. The effort supports Grameen Foundation’s Mobile Microfranchise initiative, which involves approximately 10,000 women microentrepreneurs in the Indonesian province of West Java. The program helps women start businesses that offer services such as providing access to a mobile phone or selling mobile airtime. Further details on the mobile marketplace and transaction platform have not been released.

Grameen Foundation reported total investments of USD 19.0 million and total assets of USD 27.3 million as of March 31, 2011. As of year-end 2010, eBay Foundation reported total assets of USD 30 million.

By Charlotte Newman, Research Associate

About eBay Foundation
The eBay Foundation is the charitable arm of eBay, a US-based online marketplace. The foundation was established in 1998 and has since donated approximately USD 21 million to institutions around the world as of 2012. As of year-end 2010, eBay Foundation reported total assets of USD 30 million.

About Grameen Foundation
The Grameen Foundation, a nonprofit based in Washington, DC, provides financial, technological and managerial support to provide new business opportunities and telecommunication services for poor people in rural areas. Though it is independent of the Grameen Bank, Dr Muhammad Yunus, the founder of the Grameen Bank, serves on the foundation’s Board of Directors. Grameen Foundation reported total investments of USD 19.0 million and total assets of USD 27.3 million as of March 31, 2011.

Sources and Additional Resources:

Information sent to MicroCapital from eBay: “Grameen Foundation and eBay Foundation – A Mobile Commerce Approach to Poverty Alleviation.

The Opportunity Project: “Grameen Foundation and eBay Foundation – A Mobile Commerce Approach to Poverty Alleviation,” http://www.theopportunityproject.org/blog/story/grameen-foundation-and-ebay-foundation

MicroCapital.org story, May 23, 2012, “MICROCAPITAL BRIEF: Grameen Foundation, KfW Bankengruppe, Access Africa Fund Invest in Mobile Microfinance Institution Musoni Kenya,” https://www.microcapital.org/microcapital-brief-grameen-foundation-kfw-bankengruppe-access-africa-fund-invest-in-mobile-microfinance-institution-musoni-kenya/

MicroCapital.org story, May 17, 2012, “MICROCAPITAL BRIEF: Kenyan Boma Project Certified on Grameen Foundation’s Progress out of Poverty Index,” https://www.microcapital.org/microcapital-brief-kenyan-boma-project-certified-on-grameen-foundations-progress-out-of-poverty-index/

MicroCapital.org story, July 5, 2012, “MICROCAPITAL BRIEF: Indonesia: Banks Introduce Rabu Microsavings Program at Indonesian Banking Expo (IBEX),” https://www.microcapital.org/microcapital-brief-indonesia-banks-introduce-rabu-microsavings-program-at-indonesian-banking-expo-ibex/

MicroCapital Universe Profile: eBay Foundation
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MicroCapital Universe Profile: Grameen Foundation
http://microcapital.org/microfinanceuniverse/tiki-index.php?page=Grameen+Foundation

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