The initiative of the Anglican Church was recognized for its poverty reduction efforts in Tanzania and was presented with an Excellence in Business Relationship Management award.
Five Talents works with local partners and provides small loans and business training to entrepreneurs in 11 developing countries. It currently supports 30,000 small business owners, mostly women.
Loans to small business owners start from as little as £25 and provide entrepreneurs in poor societies with the resources needed to build businesses in areas such as farming and retail. Microfinance is widely recognized as an effective poverty reduction tool since it encourages job creation and boosts local economies.
The organisation provides microfinance services in Uganda, Kenya, Philippines, India, Tanzania, Sudan, Indonesia, Peru, Bolivia and Burundi. It was founded in 1998 at the Lambeth Conference of Anglican church leaders to fight poverty in developing countries.
The Financial World Innovation Awards, which have been running for more than a decade, recognise creativity, imagination and vision within the financial services industry.
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