A Double Bottom Line Business Case for Serving Very Poor Households

Five weeks after having moved on from Grameen Foundation, I'm so pleased to announce that the fruit of a laborious two-year long study has finally materialized.  Today, the organization published "A Double Bottom Line Business Case for Serving Very Poor Households," a paper that I co-wrote with my colleagues Brian Slocum and Kate Griffin, which explores, as the title aptly states, whether there is a business case to be made for microfinance institutions (MFIs) to serve very poor populations:

"Does reaching the poorest households actually cost an institution more? Can organizations build sustainable business solutions while reaching poorer populations? Are clients who graduate from ultra-poor loan products into mainstream lending programs actually successful?

We are extremely pleased to announce the publication of "A Double Bottom Line Case for Serving Very Poor Households" written by Luckshmi Sivalingam, Brian Slocum, and Kate Druschel Griffin in which these questions are answered and more. This paper investigates the “double” (financial and social) bottom line implications for two microfinance institutions, Fonkoze in Haiti and The Small Enterprise Foundation (SEF) in South Africa, that have added product lines to serve very poor households. The analysis seeks to understand how two product lines that successfully targeted poor clients affected the ability of these MFIs to meet both their social and financial goals. In the process, we also articulated a methodology for creating a double bottom line business case for reaching very poor households.

The punch line? The targeted products contributed to social goals in significant ways, and poorer clients saw faster gains against social outcomes than less poor clients. Financially, for SEF - where the product was profitable - there was no significant difference in terms of portfolio quality, retention, or profitability between clients of different poverty levels. At Fonkoze, where the product cost $38 a person, clients stayed with the program longer and had higher repayment rates. This allowed Fonkoze to see the $38 as a reasonable client acquisition cost to attract and retain good clients while significantly contributing to their social goals."

To read the full study, please visit www.grameenfoundation.org/doublebottomline.

The Mayan Experience Concludes: Mexico

We had finally come near to the end of the Mayan experience, but we still had Mexico to go. From Caye Caulker, we boarded a speed boat that took us directly to an “expedited” Mexican border, allowing us to avoid a 13 hour chicken bus ride and a rougher border crossing. As we docked the boat, we could see several Mexican guards armed with guns and sniffer dogs awaiting the arrival of travelers like ourselves and some not, I’m sure. Once we cleared immigration and customs, we were on our way to Playa del Carmen, the fastest growing resort town in the Americas.

Tulum, one of the last cities to be built and inhabited by the Ancient Maya, is about a 45 minute drive from Playa, and is situated along the eastern coast of the Yucatan Peninsula in the Quintana Roo state of Mexico. Tulum is believed to have been dedicated to the planet Venus, hence, the female force of nature. The main shrine at the center of the city, directly facing the gorgeous blue waters of the Caribbean and the sunrise and the sunset, is for Venus, but after Spanish conquest, came to be known as the Pyramid El Castillo (The Castle). Two other significant buildings are the Temple of the Frescoes and the Temple of the Descending God. The former was used as an observatory for tracking the movements of the Sun. A description at the entrance to the ruins reads:

“Religious life and a pilgrimage to the sanctuary, a cultural expression associated with economics, politics, and nature. Mayan gods were present in one or more elements of nature. Some were manifest in the stars or in atmospheric phenomena like rain; others in plants like the ceiba (cotton silk tree) and animals like the jaguar. Each season of the year and each daily activity, such as the harvest, were marked by a ritual dedicated to a deity, aimed at making sure human labor would be rewarded with optimum results. Tulum was a city dedicated to the planet Venus, a deity with a dual nature; that of the morning and the evening star. The descending god symbolized by the setting Sun is closely related to Venus, and so it can be said that the evening star was worshipped at Tulum; thus, the image of this deity is found in the façade of some of the buildings, and its accesses are oriented to face the point where this planet sets. Another important deity was Ek Chuah, the god of trade, to whom tribute was paid in the course of commerce interchanges.”

This description resonates again with Hindu philosophy as well as the many ancient philosophies of the eastern world. It also demonstrates the Maya’s recognition of the sanctity of life, nature, the elements, and the cosmos. Interestingly, the site is run over with iguanas that appear to be guardians of the sacred temples.

Temple of the Descending God


Temple of the Frescoes

Under the watchful gaze of the guardian iguana

Templo Dios del Viento (Temple of the Wind Gods)

Temple to Venus, the main shrine

The back of the Venus Temple, facing the Caribbean

Another view of the Temple to Venus

Our last days were spent lounging on the stunning beaches of Playa del Carmen, swimming in its crystal and turquoise blue waters, or simply walking along the promenade, lined with restaurants and shops. A variety of street performers entertained passersby, who could rest over a cold beer, refreshing gelato, or very cheap massages. This wouldn’t be considered authentic Mexico, but it was a relaxing way to end the trip before returning to the madness of work!

Street performer poses for the camera

The Cotton Candy Man!

Nacho Libre masks for sale

A "shining" street performance

Care for a cigar?

The Mayan Experience Continued: Belize

The border crossing between Guatemala and Belize is a crude one that we were able to traverse through rather quickly. Once across, it was another 30 minutes before we reached our first stop in the English-speaking Caribbean nation of Belize, San Ignacio. “Go slow!” is the motto of this tiny country, cushioned between Guatemala, Mexico, and the Caribbean Bay. The small town comprises the most intriguing mix of Indian and Chinese business families, who run the hotels, convenience, and liquor stores, the Amish, who oversee the organic production of cheese and other dairy products, descendents of the Africans forcibly moved to the Americas during the slave trade era, the Rastafarians, and of course, the indigenous population of Belizeans. Even a small Sri Lankan population resided here!

The most adventurous part of the trip was probably here in Belize, roughly an hour’s drive out of San Ignacio. After a 40 minute hike through thick, lush, tropical jungle and thrice crossing the Mopan River, we had reached the mouth of the Actun Tunichil Muknal (ATM) Cave, known as a living museum of Mayan relics. We stored our cameras in waterproof bags (which, unfortunately meant I couldn’t photograph the stunning green waters we plunged into as we swam our way into the cave) and strapped on our mining helmets. While some guides allowed other explorers to strip down to their bathing suits, ours was extremely particular about observing the ancient traditions of the Mayans, and at the very least, ensuring we showed the respect due to such a holy place, highly concentrated with thousands of years of built up potent energy garnered through faith, chants, and rituals. We were requested to remain clothed with our swimming suits underneath, and upon entering the chamber of rituals, further requested to remove our shoes and vigilantly navigate around the intentionally strategically placed remnants of the ancient Mayan people.

Team Intrepid crossing the Mopan River

Pottery shards from Mayan rituals

The famous frog symbol on Mayan ceremonial pottery

Strategically positioned ceremonial pottery in their original places

Spirit catchers, left tipped over

I fully understood why this was referred to as an Indiana Jones activity upon reaching the mouth of the cave. Caving requires swimming, hiking, and climbing through body deep waterways, jagged crevices we could barely squeeze our bodies through, and massive caves several meters high, with only our head lamps showing the way forward. Gazing above and around, we gasped with awe at the natural limestone formations protruding from the walls, ceilings, and floors of the cave in the form of stalagmites, stalactites, and pillars formed over thousands of years once these two ends met. Jellyfish-like and other configurations hung over us in hues of whites, creams, corals, and reds, glimmering at the touch of light from our torches. The cave is 3 miles deep, however the Mayans took their rituals further into the cave only a few hundred meters every 300-500 years before finally reaching the ceremonial room to conducts their rituals over a 1,400 year span. The ceremonial hall contains the remains of altars, spirit catchers, and other ritual instruments left in their original, very strategic positions based on astrology and formations configured by auspicious numbers, the most significant being 3, 5, 7, 9, and 13. Skeletal remains of the shaman elders and sacrificed young people, most likely for rain in such a freshwater-sparse region, are also strategically scattered throughout the hall, the most famous being that of an ostensible young, princess of a Mayan kingdom, known as the Crystal Maiden, who was believed to have been killed by a mortar stone to the back of the head.

Skeleton head of a shaman elder

Limestone formations in the ATM cave

Jellyfish-like limestone formations

More ceremonial pottery

The Crystal Maiden

From San Igancio, we boarded a chicken or local bus for the 3 hour drive to Belize City, one large shanty town rife with poverty and criminal activity. From here, we caught a 45 minute water taxi to Caye Caulker, a limestone coral island measuring 5 by 1 miles. By this point in the trip, a virus turned sinus infection was taking its toll, and while the rest of the group went sailing and snorkeling along the Belize Barrier Reef, I tried to enjoy brunch on the beach and catch up with emails before crawling back into bed for some much needed rest. For the remaining 2 nights, we did, however, enjoy some of the juiciest lobster and fresh fish dinners. It was time to get ready for the next and final stop, Mexico!

Our drummer friend, Emmit

Cotton candy!

Man, cutting freshly caught lobster

Drying laundy under the house

Toys

Caribbean waters off the Caye Caulker shores

The full team Intrepid

Fresh lobster, shrimp, and other crustaceans

The Mayan Experience: Guatemala

On my exit out of India after two intense months (which, yes, I have yet to write about), I followed my minimum 24 hour ritual of transitioning from a wholesome life of the rural east to one of a very fast-paced Western urbania. And, what better place to do it than New Delhi, this time amidst the enjoyable company of my very good friends, Madhavi and Gil. Given that I’ve sublet my apartment in DC, my nomadic lifestyle is evermore intensified by once again having to live out of a suitcase under the hospitable wing of good friends. I had another 24 hours upon arrival in DC to unpack, repack, shower, groom, and finish up expense reports before enjoying one of the most memorable evenings with my dear friends. This time, I was off to Atlanta for the Hindu wedding ceremony of my cousin and his Argentine-Peruvian wife before engaging in a Mayan experience through Central America. This is a three-part blog series, beginning with Guatemala.

This is a post of firsts. It was my first time in Atlanta, and I found it to be a rather sleepy city, at least compared to New York City and Los Angeles, though we had little time for sightseeing to prove otherwise. My grandmother on my father’s side is the mother of sixteen surviving children, dispersed all over the world, though largely concentrated now in the States. It was the second wedding among the grandchildren and was the perfect catalyst for a family reunion long overdue. After a family dinner on Friday evening and a meet and greet between the Sri Lankan and Peruvian/Argentine families, we celebrated in full force on Saturday, beginning with a thali ceremony at the local Hindu temple followed by a reception with good food, drink, merriment, and dancing. Come Sunday, it was with heavy hearts that we said our goodbyes as each of the families departed for home or onward travel. It had been, in some cases, nearly ten years since we had met, and I couldn’t believe how much many of my cousins had grown into young, achieved adults. I felt a renewed pride all weekend to be a part of such a large, generous, and wonderful family.

The Matriarch

Hindu Temple in Atlanta's suburbs


The gorgeous couple: My cousin, Shankar, and his wife, Fernanda

After a four hour flight from Atlanta that had been delayed at least four times due to a passing thunderstorm, I finally reached Guatemala City at 1:00 AM. My very good friend who lives in the City was kind enough to give me a lift from the airport to the quaint, former Spanish colonial town of Antigua, located in the central highlands about 45 kilometers outside of the capital. I think I may have done one group tour my entire adult life, and that was a Greek cruise while I was still a college student. Given how much I wanted to cover in such a short period of time and the dearth of time I’ve had these past few months for research and trip planning, not to mention increased criminal activity particularly linked to the narcotics trade, a group tour seemed like the perfect option for me, and I decided to go with Intrepid. They are known for their small groups, typically comprised of folks older than university students, and cognizant of the environment. Within minutes of meeting, I felt the camaraderie building amongst us.

I had a full day to myself to roam the cobblestone lanes, lined with the most colorful of Spanish homes. The architecture naturally mirrored much of what I saw in Cartagena. Antigua, in the Valley of Panchoy, is full of old churches and ruins from the colonial period and is overlooked by three spectacular volcanoes—Agua, Acatenango, and Fuego. I found myself crossing between Hindi and Spanish while purchasing a local SIM card among other things before I realized it would take me a good couple of days to transition my brain into Spanish mode. Before enjoying an evening in the local artisan’s market, I decided to take a brief tour of the Finca Filadelfia coffee plantation, where coffee marketed under the name R. Dalton is grown, processed, and exported to various international coffee brands such as Starbucks. I found the process much more complex, yet more fascinating than I ever imagined, particularly how the roots of the bitter Robusta breed plants are fused into the base of the Arabica breed to stave away microscopic worms and protect the plants. I can say that while I am not an avid coffee consumer, I now appreciate the effort and care that goes into a single cup of good, gourmet coffee.

Guatemalan artisan

Finca Filadelfia Coffee Plantation

Finca Filadelfia Coffee Farm

Arabica coffee beans

Manual splitting of the Arabica plant root to implant the Robusto root

Coffee beans before final cleaning and roasting

My second day in Antigua started at dawn with a couple of members from the travel group. We had opted to hike up the Pacayo Volcano, 2,500 meters above sea level, from which we could view all three of the major volcanoes overlooking Antigua town. It had been pouring rain the last few days, and we lucked out with the clearest, sunniest day Antigua had seen in weeks. The terrain of the active volcano, which was still steaming from the internal heat, was sometimes lunar and other times Martian. The colors of the porous, hardened, jagged lava ranged from smoky gray to fiery reds. Caverns and crevices from which exceptional heat protruded became more prevalent as we ascended the volcano. Those who had brought sandwiches or packed lunches wrapped in foil were able to essentially toast these in the caverns’ pockets over its hot rocks.

Cobblestone roads of Antigua, overlooked by the Volcano Agua

View of Volcano Fuego from Pacayo

Traversing across the Pacayo terrain

Graffiti along the way

Hardened lava

Volcanic rock of Pacayo

Guatemalan artisan in Antigua

Weaver

Iglesia La Merced

Colorful streets of Antigua town

Mayan and Aztec culture and replicas of its art and ware are prevalent all over Guatemala and throughout Central America. This is one of the most fascinating cultures for me, personally, and what particularly resonates is the philosophy and what I like to call spiritual science that rationalized the divine, creation, and cause for existence for the Mayans* and Aztecs alike. The similarities between Hindu philosophy and these two ancient philosophies are fascinating, from the legends of hero twins to the concept of dualism -- creation being the result of complementary opposition and conflict. The Aztecs embodied this interdependent opposition through their god of creation, Ometeotl, God of Duality, who is believed to reside in the thirteenth heaven of Omeyocan, Place of Duality. Common to the Hindu concept of dualism, embodied in the fused Shiva Shakthi, Ardhanareeshwara, Ometeotl, too, possesses both male and female creative energies and can be further depicted as the couple Tonacatecuhtli and Tonacacihuatl, “Lord and Lady of Our Sustenance.” Serpents, monkeys, and other symbols of divinity to represent life and fertility, the natural elements, and the cosmos are prevalent in all art of these two cultures. There are over 4,000 Mayan archaeological sites peppering Guatemala and many more yet to be excavated.

En route to Flores in the department of Izabel, southeastern Guatemala, our first real exposure to the ancient Mayan remnants was in Quirigua. During the Mayan classical period (200-900 AD), Quirigua was at the crossroads of several important trade routes and also served as a ceremonial center. The Mayans used the local red sandstone to sculpt and erect some of the tallest freestanding monuments in the Americas here. Some of the best preserved monuments are stelas, depicting the rulers of the city at the time, dated and captioned using their own, very sophisticated hieroglyphic script. The constant struggle, wars, and usurping of power from one Mayan tribe or kingdom to another is apparent in the recorded time periods and depictions of various rulers on the stelas. Often once a kingdom was captured, its ruler would be sacrificed to the gods in a grand public ceremony.

Stela D, representing King K'ak' Tiliw Chan Yopaat in Quirigua

Stela F, representing another Mayan king

Zoomorphs, depicting symbolic animals

Another stela of a Mayan king of Quirigua

Carvings alongside the stelas

Stela D

Acropolis at Quirigua

Probably one of the most magnificent of the Mayan heritage sites is Tikal, one of the largest archaeological sites and urban centers of the ancient Mayan civilization. The site is located in El Peten and is a part of Guatemala’s Tikal National Park. I have wanted to visit such sites full of the temples that Mayans to this day continue to practice their rituals at for years. Their philosophy and advanced integration of it into daily life had sparked my interest since I had first started studying Vedantam and was able to identify the parallels of the two. As noted in the Celestine Prophecy, many believe that many of the Mayans, who disappeared without a trace, actually evolved into higher beings or, as Hindus would say, attained enlightenment, existing at a much higher frequency that we can fathom, so much so that they are no longer visible to the human eye. Another theory is that rather than living among us, they have crossed over into another dimension or vortex. When asked about prophesies of the end of the world in 2012, the Guatemalans or present day Mayans laughed and said they did not believe in the end of the world. Rather, like in Hindu philosophy, the world and its people evolve through cycles, and just as Hindus believe that we have entered the final stage (Kaliyuga) of another cycle of creation, preservation, and destruction, also known as life, the Mayans calculate 24,500-year long stages, the date in December 2012 marking the commencement of the next stage. During this stage, homo sapiens begin to evolve into homo sapiens “light,” marking a period of greater spiritual awareness and a return to the old truths of the past.

Tikal, like Quirigua, reached its peak during the Mayan classical period which lasted from 200 to 900 AD. During this period, the kingdom oversaw much of the Mayan region politically, economically, and militarily. The structures, primarily temples, platforms, and royal palaces, were built of limestone, and many of the ruling dynasties integrated burial sites amidst these, continuing to build newer structures atop the older ones. The temples resemble the pyramids of Egypt and their condition over 2,000 years later is remarkable.

Platform in Tikal

Hieroglyphic records of the Mayans

Temple III of Tikal

Aguada del Palacio

Aguada del Palacio

Aguada del Palacio

View of Temple V

Northern Acropolis, facing the Grand Plaza

The Grand Plaza from the Central Acropolis

Temple I aka The Great Jaguar Temple- the landmark of Guatemala, built in 810 A.D.

Frontal view of the Great Jaguar Temple

View of Temple II, Temple of the Masks or Faces, built in 700 A.D.

Another view of Temple I

View from Temple IV, the highest in Tikal, also known as the Temple of the Two-Headed Snake

Temple V, the first pyramid of Tikal, constructed in 600 A.D.

Fascinating display of ants at work

Parrots in Renata

Amidst all the travels, my body finally succumbed to fatigue and ailments. While others took a dip in the gorgeous blue-green waters of Lake Peten Itza, I took time out to rest and reflect on all that we had seen the last few days, and I really felt blessed to be immersing in the energies of the ancient Maya. I was looking forward to more in Belize the following day.

*It is important to note that unlike the unified Aztec empire, the Mayans were neither politically and culturally a single, unified people. In the 16th century, there were at least thirty clashing Mayan groups with distinct languages, customs, calendrics, and religions.