Microfinance

Grameen Foundation to exit Mifos

mifos grameen foundation

Grameen Foundation to Transition Mifos to Community-Led Effort

Grameen Foundation USA has announced that it will be exiting its activities related to Mifos – the open source technology platform for MFI’s. Over the coming months it will be making a concerted effort to transition the initiative to leaders within the Mifos community.

Mifos Software

Grameen Foundation launched the Mifos initiative in 2006 to address a critical need for a solid technology platform tailored to the needs of the microfinance community. It’s goal has been to provide software that can promote growth and transparency in microfinance and achieve deep, lasting impact in the lives of poor people.

Since then, Mifos has become a robust open-source software platform that is used by microfinance institutions around the world and  has more than 850,000 clients. As open-source software, Mifos has been supported by a global community of software developers, translators and users.

However Grameen foundation has announced that the challenges of running a global software business within a non-profit from the United States, combined with the expense of maintaining a substantial software development team, will not enable it to achieve it’s goals or to realize the full potential of Mifos. Consequently, the Grameen Foundations leadership has decided that over the coming months, Grameen Foundation will transition out of this business. Grameen Foundation’s direct involvement with Mifos will conclude at the end of November 2011.

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