Five Talents
Encyclopedia
Five Talents is a Christian
Microfinance
charity
. It provides loans to groups of entrepreneurs, and also offers business training and mentoring to clients. It has attracted notice and acclaim throughout the Anglican Communion
and in secular news sources.
, Washington
and Uganda
, and partners with organisations in eleven countries around the world.
Five Talents was founded at the Lambeth Conference of Anglican Church leaders in 1998 as 'a long term response to help the poor in developing countries based on need not creed'.
The patron is the Archbishop of Canterbury
, Rowan Williams
.
The Chairman of the Board of Trustees is Graham Carr FCA and the Chair of the Council of Reference is Lord Griffiths of Fforestfach.
, Bolivia
, Dominican Republic
, India
, Indonesia
, Kenya
, Peru
, Philippines
, Sudan
, Tanzania
, and Uganda
Five Talents UK was also the overall winner of the City of London Sustainable City Award, 2009. It was also shortlisted for the Financial Times Sustainable Banking Awards 2010, in the category “Banking at the base of the pyramid”.
Five Talents’ Business as Mission Program coordinates short-term mission trips and the development of biblically-based leadership and business training curricula for church leaders and entrepreneurs. The curriculum covers the basics of entrepreneurship, business planning, marketing, and recordkeeping, along with spiritual support, thus equipping loan recipients to run and expand their businesses.
Unlike most training programs, the Five Talents methodology is less conceptual and more concrete in actions. It incorporates interactive exercises that are less dependent on high levels of written literacy and case studies. Five Talents is taking the lead in alleviating poverty not through handouts but through teaching sensible and biblical business practices and building capacity to manage Christian MicroEnterprise Development (CMED) programs.
and Muhammad Yunus
, and aims to reach those who are unable to take out commercial loans due to lack of collateral
.
Typically groups will consist of between 5 and 10 people.
The majority of borrowers are women.
The purpose of the APPG is to raise awareness of microfinance and the role it can play in reducing poverty, particularly in the developing world. As such, the APPG also provides a Parliamentary forum for discussion on new developments and current debates in the field of microfinance.
Tom Sanderson, Five Talents’ UK director – is a member of the Steering Group of the UK Microfinance Club. This club provides a forum for UK enthusiasts of microfinance. With over 360 members from NGOs, corporates, government, media, universities and the public, their aims are to exchange best practices, raise awareness and share information to help improve the delivery of microfinance to the world's poor.
In February 2011 Tom addressed St Paul’s Institute in London on the topic of christian microfinance
Christian
A Christian is a person who adheres to Christianity, an Abrahamic, monotheistic religion based on the life and teachings of Jesus of Nazareth as recorded in the Canonical gospels and the letters of the New Testament...
Microfinance
Microfinance
Microfinance is the provision of financial services to low-income clients or solidarity lending groups including consumers and the self-employed, who traditionally lack access to banking and related services....
charity
Charitable organization
A charitable organization is a type of non-profit organization . It differs from other types of NPOs in that it centers on philanthropic goals A charitable organization is a type of non-profit organization (NPO). It differs from other types of NPOs in that it centers on philanthropic goals A...
. It provides loans to groups of entrepreneurs, and also offers business training and mentoring to clients. It has attracted notice and acclaim throughout the Anglican Communion
Anglican Communion
The Anglican Communion is an international association of national and regional Anglican churches in full communion with the Church of England and specifically with its principal primate, the Archbishop of Canterbury...
and in secular news sources.
Organization
Five Talents has offices in LondonLondon
London is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...
, Washington
Washington, D.C.
Washington, D.C., formally the District of Columbia and commonly referred to as Washington, "the District", or simply D.C., is the capital of the United States. On July 16, 1790, the United States Congress approved the creation of a permanent national capital as permitted by the U.S. Constitution....
and Uganda
Uganda
Uganda , officially the Republic of Uganda, is a landlocked country in East Africa. Uganda is also known as the "Pearl of Africa". It is bordered on the east by Kenya, on the north by South Sudan, on the west by the Democratic Republic of the Congo, on the southwest by Rwanda, and on the south by...
, and partners with organisations in eleven countries around the world.
Five Talents was founded at the Lambeth Conference of Anglican Church leaders in 1998 as 'a long term response to help the poor in developing countries based on need not creed'.
The patron is the Archbishop of Canterbury
Archbishop of Canterbury
The Archbishop of Canterbury is the senior bishop and principal leader of the Church of England, the symbolic head of the worldwide Anglican Communion, and the diocesan bishop of the Diocese of Canterbury. In his role as head of the Anglican Communion, the archbishop leads the third largest group...
, Rowan Williams
Rowan Williams
Rowan Douglas Williams FRSL, FBA, FLSW is an Anglican bishop, poet and theologian. He is the 104th and current Archbishop of Canterbury, Metropolitan of the Province of Canterbury and Primate of All England, offices he has held since early 2003.Williams was previously Bishop of Monmouth and...
.
The Chairman of the Board of Trustees is Graham Carr FCA and the Chair of the Council of Reference is Lord Griffiths of Fforestfach.
Projects
Five Talents currently works in eleven developing countries, which are: BurundiBurundi
Burundi , officially the Republic of Burundi , is a landlocked country in the Great Lakes region of Eastern Africa bordered by Rwanda to the north, Tanzania to the east and south, and the Democratic Republic of the Congo to the west. Its capital is Bujumbura...
, Bolivia
Bolivia
Bolivia officially known as Plurinational State of Bolivia , is a landlocked country in central South America. It is the poorest country in South America...
, Dominican Republic
Dominican Republic
The Dominican Republic is a nation on the island of La Hispaniola, part of the Greater Antilles archipelago in the Caribbean region. The western third of the island is occupied by the nation of Haiti, making Hispaniola one of two Caribbean islands that are shared by two countries...
, India
India
India , officially the Republic of India , is a country in South Asia. It is the seventh-largest country by geographical area, the second-most populous country with over 1.2 billion people, and the most populous democracy in the world...
, Indonesia
Indonesia
Indonesia , officially the Republic of Indonesia , is a country in Southeast Asia and Oceania. Indonesia is an archipelago comprising approximately 13,000 islands. It has 33 provinces with over 238 million people, and is the world's fourth most populous country. Indonesia is a republic, with an...
, Kenya
Kenya
Kenya , officially known as the Republic of Kenya, is a country in East Africa that lies on the equator, with the Indian Ocean to its south-east...
, Peru
Peru
Peru , officially the Republic of Peru , is a country in western South America. It is bordered on the north by Ecuador and Colombia, on the east by Brazil, on the southeast by Bolivia, on the south by Chile, and on the west by the Pacific Ocean....
, Philippines
Philippines
The Philippines , officially known as the Republic of the Philippines , is a country in Southeast Asia in the western Pacific Ocean. To its north across the Luzon Strait lies Taiwan. West across the South China Sea sits Vietnam...
, Sudan
Sudan
Sudan , officially the Republic of the Sudan , is a country in North Africa, sometimes considered part of the Middle East politically. It is bordered by Egypt to the north, the Red Sea to the northeast, Eritrea and Ethiopia to the east, South Sudan to the south, the Central African Republic to the...
, Tanzania
Tanzania
The United Republic of Tanzania is a country in East Africa bordered by Kenya and Uganda to the north, Rwanda, Burundi, and the Democratic Republic of the Congo to the west, and Zambia, Malawi, and Mozambique to the south. The country's eastern borders lie on the Indian Ocean.Tanzania is a state...
, and Uganda
Uganda
Uganda , officially the Republic of Uganda, is a landlocked country in East Africa. Uganda is also known as the "Pearl of Africa". It is bordered on the east by Kenya, on the north by South Sudan, on the west by the Democratic Republic of the Congo, on the southwest by Rwanda, and on the south by...
BBC Lifeline Appeal
In May 2010 Five Talents featured on the BBC's monthly television charity appeal programme 'Lifeline'. A short film starring starring Sandi Toksvig was broadcast on BBC1 and explored the impact of Five Talents on the poor in Tanzania.Awards
Five Talents UK won the 2011 Award from Advocates for International Development (A4ID) for the best Development Partner. This award celebrates the outstanding achievements of legal professionals and the development organisations they have worked with in tackling extreme poverty and meeting the UN’s Millennium Development Goals.Five Talents UK was also the overall winner of the City of London Sustainable City Award, 2009. It was also shortlisted for the Financial Times Sustainable Banking Awards 2010, in the category “Banking at the base of the pyramid”.
Business As Mission
'Business As Mission' is the concept that business professionals can use their God-given skills and talents to assist poor entrepreneurs in developing countries who are starting small businesses as a way out of poverty. Five Talents pursues new and creative ways for business people to use their skills and talents in the overseas mission field by providing business training and one-on-one business counseling for loan recipients. The ultimate goal is a transformative experience for all involved.Five Talents’ Business as Mission Program coordinates short-term mission trips and the development of biblically-based leadership and business training curricula for church leaders and entrepreneurs. The curriculum covers the basics of entrepreneurship, business planning, marketing, and recordkeeping, along with spiritual support, thus equipping loan recipients to run and expand their businesses.
Unlike most training programs, the Five Talents methodology is less conceptual and more concrete in actions. It incorporates interactive exercises that are less dependent on high levels of written literacy and case studies. Five Talents is taking the lead in alleviating poverty not through handouts but through teaching sensible and biblical business practices and building capacity to manage Christian MicroEnterprise Development (CMED) programs.
Group Lending Model
Five Talents operates using a group lending model. Loans are given to the group as a whole and so if one person has difficulty in repaying, the others in the group will have to cover their repayments. This system is similar to that originally developed by the Grameen BankGrameen Bank
The Grameen Bank is a microfinance organization and community development bank started in Bangladesh that makes small loans to the impoverished without requiring collateral...
and Muhammad Yunus
Muhammad Yunus
Muhammad Yunus is a Bangladeshi economist and founder of the Grameen Bank, an institution that provides microcredit to help its clients establish creditworthiness and financial self-sufficiency. In 2006 Yunus and Grameen received the Nobel Peace Prize...
, and aims to reach those who are unable to take out commercial loans due to lack of collateral
Collateral (finance)
In lending agreements, collateral is a borrower's pledge of specific property to a lender, to secure repayment of a loan.The collateral serves as protection for a lender against a borrower's default - that is, any borrower failing to pay the principal and interest under the terms of a loan obligation...
.
Typically groups will consist of between 5 and 10 people.
The majority of borrowers are women.
Associations
Five Talents is a member and regular contributor of the UK All Party Parliamentary Group on MicrofinanceThe purpose of the APPG is to raise awareness of microfinance and the role it can play in reducing poverty, particularly in the developing world. As such, the APPG also provides a Parliamentary forum for discussion on new developments and current debates in the field of microfinance.
Tom Sanderson, Five Talents’ UK director – is a member of the Steering Group of the UK Microfinance Club. This club provides a forum for UK enthusiasts of microfinance. With over 360 members from NGOs, corporates, government, media, universities and the public, their aims are to exchange best practices, raise awareness and share information to help improve the delivery of microfinance to the world's poor.
Media
Tom Sanderson, Five Talents' UK director, regularly writes articles and gives talks on microfinance. He recently contributed to a debate about microfinance covered in the Financial TimesIn February 2011 Tom addressed St Paul’s Institute in London on the topic of christian microfinance
Further reading
- Marshall, Katherine and Van Saanen, Marisa, "Development and Faith," The World Bank, 2007, ISBN 978-0-8213-7173-2
- Bussau, David and Mask, Russell, "Christian Microenterprise Development: A Handbook", Paternoster Press, 2003, ISBN 978-1870345286
- Parable of the TalentsParable of the TalentsThe Parable of the talents or minas, , is one of the well known parables of Jesus. It appears in two of the Canonical gospels of the New Testament. The differences between Matthew and the Luke are substantial, and the two parables may not be derived from the same source...
Five Talents Online
- http://www.fivetalents.org.uk/
- http://twitter.com/Five_Talents
- http://www.facebook.com/group.php?gid=8729505399&ref=ts
- http://www.youtube.com/user/FiveTalentsIntl