Race4Change takes $11 billion of Finance Expertise on Rally of Empowerment
Race4Change.org, the microfinance rally team taking a million-‐dollar awareness campaign to Kenya for this year’s East African Safari Classic Rally, announces the support of four of the world’s most respected microfinance organisations: Jamii Bora, Kiva, Women’s World Banking and the Microcredit Summit Campaign.
Led by Nobel Peace Prize nominee, ‘Mama’ Ingrid Munro, Jamii Bora is the largest microfinance institution in East Africa, and an inspirational success story. Jamii Bora was the principal partner on Race4Change’s inaugural 2009 Safari Rally event.
Since its foundation in 2005, Kiva.org has lent more than $223 million through almost 595,000 lenders: an exceptional achievement. Based in San Francisco, Kiva directs its operation through 133 field partners and 450 volunteers in 59 countries.
Women’s World Banking works globally for the financial empowerment of women and their families. Once the employer of Ann Dunham-‐Soetoro, microfinance advocate and mother of President Barack Obama, this US-‐based non-‐profit has lent over $7 Billion to date and is currently managing $3.5 billion in savings. WWB has 26 million clients, 80% of whom are women. CEO Mary Ellen Iskenderian may even drive part of the event!
The Microcredit Summit Campaign is a project of the hugely influential Results Fund, a US-‐based grassroots advocacy organisation committed to ending hunger and poverty. The Campaign consolidates a community now lending to 190 million people around the world. Loans to the poorest 128 million touch an estimated 641 million family members.
“Race4Change’s association with four of the world’s foremost microfinance organisations gives us an unprecedented platform,” says Dr. Steven Funk, the US-‐born philanthropist underwriting the Race4Change.org campaign. Funk himself is a product of microfinance: the accomplished businessman grew up on an Iowa farm that relied on microfinance to advance its economic confidence.
“With the spiritual support of microfinance organisations who have collectively managed over $11 billion to date, our efforts to promote the economic empowerment of women using this epic national sports event engage wider-‐reaching possibilities.
“While our professional and celebrity drivers get in Race4Change rally cars, physically taking our message into the heart and soul of Africa, our supporters will tell their supporters, most of whom we hope will share the Race4Change.org message online, bringing energy and excitement to the struggle to eradicate poverty. Race4Change is an incredible adventure, starting here and now!