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 | This article was nominated for deletion on 19 August 2009. The result of the discussion was keep. |
Outdated Information
editI believe the content of this article is heavily outdated. Wrong information as of November 2010: - Jes Colding is no longer with MyC4 - MyC4's software development is no longer in Uganda
Some recent developments missing:
- A lot of investors on MyC4 suffered from severe losses in the last years mainly due to fraud and or incompetence on the side of some of MyC4's African partners. MyC4's risk management as of today looks improved yet due to stricter rules the overall volume has declined a lot. Most investors - including the MyC4 founders - are left with the bulk of their initial investment lost. - MyC4 always claimed an open culture yet recently they closed their forum and hid it from the general public. There had been a lot of negativity on this forum, maybe that's part of the reason for this.
Some sources: The old Forum: https://www.myc4.com/Forum
The announcement of the closing of the forum: http://myc4.wordpress.com/2010/10/20/help-what-happened-to-the-forum/ —Preceding unsigned comment added by 92.206.150.249 (talk) 01:34, 11 November 2010 (UTC)
Transaction costs
editI think mention of the very high transaction costs (on the order of 20% per annum paid by the lender, bringing the typical interest rate up to 35% per annum) would be in order.
This is documented in a radio programme, "Den Glade Giver? Mikrolån i Uganda", (language: Danish) on Danish national public radio, from a series named "Feature" (RSS). The programme can be podcasted at [1].
—Preceding unsigned comment added by Mortense (talk • contribs) 22:56, 4 January 2010 (UTC)
--Mortense (talk) 12:51, 3 January 2010 (UTC)
Maybe,but (a) I don't see what it adds to the content and (b) the words "very high" are judgemental, subjective and pejorative. No-one is forcing anyone to take the loans, indeed the borrowers seem very grateful that someone will help them out, the fees are not hidden from them, indeed openness is a prime consideration of the whole MYC4 operation. Without an explanation / understanding of what is covered by the providers fees any statement about the fees is specious, inconsequential and arbitrary.Ppeetteerr (talk) 16:21, 5 April 2011 (UTC)