International management consulting firm Oliver Wyman has announced a strategic alliance with Kiva.org to support the microfinance institution’s expansion. Through Oliver Wyman’s Non-Profit Fellowship Program, consultants have previously helped build and scale Kiva’s current operations. The newly established Oliver Wyman-Kiva externship program is an extension of their fellowship program, promoting sustainable development through micro-lending.
Kiva Microfunds is a non-profit public benefit corporation founded in 2005 and based out of San Francisco, California. Kiva raises its capital through an interactive website that allows individuals to invest in the fund via an online platform. The fund uses a network of 89 microfinance partners, in 42 developing countries to distribute loans to micro-entrepreneurs. Currently, this private investor fund has total assets of USD 22 million all of which is allocated to microfinance investments.
The current President of Kiva, Premal Shah, is a former Oliver Wyman consultant.
Oliver Wyman is a global consultant company specializing in strategy, operations, risk management, organizational transformation, and leadership development. Founded in 1970 as Temple, Barker and Sloan Incorporated, Oliver Wyman currently works out of 40 cities in 16 countries and has served Global 1000 clients for the past 38 years.
Oliver Wyman is part of the Oliver Wyman Group, a division of Marsh and McLennan Companies (NYSE: MMC) with revenues of USD 1.5 billion.
By Melissa Duscha
Additional Sources:
Consulting Magazine.com: Oliver Wyman
MicroCapital.org article, August 8, 2006: “Kiva.org Gets the Press it Deserves for Microcredit Investment“:
MicroCapital.org article, July 19, 2007: “Peer to Peer (P2P) Microfinance Business of Kiva.org (Kiva) Funds over USD 8.9 Million Internationally for Micro Loans”
Microfinance Information Exchange (MIX Market): KIVA (Kiva Microfunds)
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[…] MicroCapital.org Article, May 27, 2008, “Oliver Wyman Management Consulting Firm Announces Strategic Alliance with Microfinance Institution, Kiva Microfund”, https://www.microcapital.org/microcapital-story-oliver-wyman-management-consulting-firm-announces-str… […]