Julia Kurney recently launched Zidisha.org, a non-profit organization that reportedly allows for peer-to-peer (P2P) microcredit lending. Ms Kurney was previously the founding partner of Senegal Ecovillage Microfinance (SEM), a non-profit microfinance institution in Senegal.
Zidisha claims to eliminate intermediaries by allowing individuals to lend directly to entrepreneurs in Senegal and Kenya. Only entrepreneurs with a credit history are eligible. Lenders are able to upload money and then browse listings, written by the entrepreneurs themselves. If more than one lender selects an entrepreneur, a bidding process ensues. During bidding lenders can underbid each other with the result of the entrepreneur profiting from a sinking interest rate.
By Jay Kumar, Research Assistant