GrameenPhone’s Success, Phone Ladies’ Loss
Who has not heard of Grameen phone ladies? In 1997, GrameenPhone (a for-profit affiliate of Grameen Bank) piloted an innovative concept called the Village Phone Program. GrameenPhone would lend money to village women under this program. Women buy a cell phone and airtime from GrameenPhone to become phone ladies. They start a service business renting out their phone and airtime to other villagers. Villagers talk to their friends and family dispersed all over the world. Villagers pay money to phone ladies. Phone ladies make a handsome profit. Phone ladies buy more airtime from GrameenPhone. GrameenPhone makes a good profit. And everyone lived happily ever after. Read More »