Below is the full text of the email that Wokai sent out today (also is currently on their home page):

Dear Wokai Contributors,

We regret to tell you that we are starting the process of winding down Wokai and concluding operations.

Wokai has been actively searching for a new CEO to take the organization to the next level in China. However, as of our application deadline, no clear candidate came to the fore. In addition, we have met unexpected funding road blocks, which have left us without the reserves necessary to extend the search further.

Considering Wokai’s current situation, our Board of Directors has unanimously decided to take the resources that we currently have and wind down Wokai’s operations. This approach will ensure that all of the resources that we have built up are used to continue our mission of growing microfinance in China.

Over the last 5 years since starting Wokai and 3.5 years since the launch of our website, our team and global supporter community has raised over a half a million dollars in loan capital for micro-entrepreneurs living under the poverty line in China. We’ve worked together to fund over 1,500 micro-loans to 961 borrowers, all at an over 98% on-time repayment rate. When you take into account the families of our micro-entrepreneurs, these funds have supported over 4,000 people to start the process of moving out of poverty. Not only have we directly impacted the lives of these individuals, but our over 30 major media features in the likes of CNN, Bloomberg, MSNBC, Phoenix TV, and China Newsweek and our global volunteer community of over 300 volunteers in 20 cities around the world has brought our cause of growing microfinance in China onto the global radar.

Moving forward, our Field Partners have committed to use the loan capital contributed to date to provide a continuous cycle of new loans to micro-entreprenuers in China’s rural Sichuan and Inner Mongolia Provinces. With this commitment, over the next ten years, over 9,000 micro-entrepreneurs should have the opportunity to lift themselves, their families, and communities out of poverty.

I cannot thank you enough for all of your support. Even as Wokai winds down, the legacy that we’ve built together will continue on, empowering a generation of micro-entrepreneurs to achieve their dreams and laying the groundwork for the future growth of microfinance in China.

Sincerely,

Casey Wilson
Co-founder & CEO, Wokai

I’m beyond impressed with what Casey and the entire Wokai team has accomplished in just 5 short years; they’ve put China on the microfinance radar in a massive way. I truly hope this announcement prompts someone to come out of the woodwork and keep Wokai going, both in terms of funding and running the organization going forward – I’d love to see the organization progress and continue to touch the lives of those in China.

[youtube]http://www.youtube.com/watch?v=138niwUVBeY[/youtube]

I’ve spent a bit of time in the DR visiting Kayla (who works for Esperanza), and this slideshow certainly takes me down memory lane from my trips a couple years ago.

[youtube]http://www.youtube.com/watch?v=qX0Vum_LQNc[/youtube]

If you like it, please share with your network via FB, Twitter, or Email!

Custom websites are what I do for a living, and I’m certainly impressed with the result they came up with. I’m willing to bet that this site will convert web traffic to dollars raised at a much higher clip than their old site did. The design is nice and clean, and the home page it totally devoted to their desired user action of funding an entrepreneur in China. It’s obvious they’ve done extensive user research, some A/B testing, and/or have someone very capable on their team who oversaw this redesign.

Congrats to the team for the successful launch!

What (main event): Workshop Building Partnerships in Microfinance

This three (3) day training course is designed for management of a range of microfinance providers and other stakeholders, including MFIs, banks, insurance companies, NGOs and government agencies. The course content aims to:

• Raise awareness of the potential of partnership approaches in microfinance;
• Better equip managers of financial and other institutions to assess, enter into and maintain mutually satisfactory partnerships that enable them to better deliver sustainable and appropriate financial services to the poor.

When: February 20-22, 2012
Where: Siem Reap, Cambodia

What (side event): Invest in Mekong Region Marketplace

When: February 22, 2012 – 1:00pm – 5:00pm

Where: Siem Reap, Cambodia

It’s a bummer this event isn’t a month earlier given that I’m in Siem Reap right now. I plan to be in Chiang Mai starting on the 11th or 12th of February, but we’ll see if I can make it back here in a month to attend.

January 12, 2012, Washington D.C. – On December 20, 2011, MicroRate, with the support of LuxFLAG and the Grand Duchy of Luxembourg, launched Luminis™ the first web-based, analytical platform focused on microfinance funds, also known as microfinance investment vehicles (MIVs).

With the success of microfinance and the growing interest in impact investments that deliver both financial returns and social impact, there has been a dramatic increase in the number of global funds that invest in microfinance institutions (MFIs). Until now, there was no single resource to assist investors in identifying and analyzing the wide range of investment options in this growing category of socially responsible investments.

Responding to this need, MicroRate’s team of microfinance and capital market analysts developed a proprietary approach to analyzing impact investment funds, called PRSM™, to assess the funds’ performance, risk, social, and management components. This in-depth analysis forms the core of Luminis, which also provides investors with search and comparison tools, detailed fund profiles and reports, research, and relevant market news.

“MicroRate’s core mission has always been to facilitate the flow of capital-market funding to microfinance to promote the long-term sustainability of this poverty-alleviation tool,” stated Damian von Stauffenberg, founder and chairman of MicroRate. “Since 1996, MicroRate has rated MFIs to achieve this goal. Luminis will now provide unprecedented transparency on the investment-fund level, which will further develop the microfinance industry.”

The current Beta version of the Luminis site includes basic profiles on over 80 MIVs. Users can also preview samples of detailed fund profiles and reports that will be part of the full-release version of the site which is scheduled to launch in the first quarter of 2012.

“Luminis would not be possible without the cooperation of forward-thinking MIV managers, who have agreed to contribute the data that enable us to deliver clear and comprehensive reports to the investment community,” stated Luis A. Viada, Executive VP of MicroRate and Luminis Director. “Already capital markets investors have responded positively to the Luminis approach and see it as a key tool in researching and differentiating among social investment funds.”

According to Kenneth Hay, Chairman of LuxFLAG “We see the launch of Luminis as a critical step forward, providing the detailed and reliable industry information necessary for investors to evaluate MIVs as a valid impact investment option and a potential alternative asset class producing both financial and social returns.” Of the funds featured on Luminis, 15 hold the LuxFLAG Microfinance Label.

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Luminis Background
The critical need to create transparency on microfinance investment vehicles (MIVs) was recognized both by MicroRate and the Grand Duchy of Luxembourg who together in May 2010 signed a collaboration agreement providing public seed capital, through the Luxembourg labeling service, LuxFLAG, to help launch Luminis.

Each of the parties is a leader in the field of microfinance investments, which made the initiative a natural alliance. The Grand Duchy of Luxembourg is a staunch advocate of microfinance and hosts the largest number of MIVs of any global financial center. MicroRate has a long-standing and respected reputation as the premier rating agency of microfinance institutions (MFIs). It is also the industry leader in microfinance investment vehicle evaluation.

Luminis is a service of MicroRate which developed the Luminis approach and is solely responsible for providing the analysis, deliberation, conclusions and opinions reflected in all reporting.

About MicroRate (www.microrate.com)
MicroRate is the first microfinance rating agency dedicated to evaluating performance and risk in microfinance institutions (MFIs) and microfinance funds, also known as microfinance investment vehicles (MIVs). As the oldest and most well-respected organization of its kind, MicroRate has conducted over 600 ratings of 200+ MFIs throughout Latin America, Africa, Europe, and Central Asia. MicroRate is a leading social rater and has also become the largest MIV evaluator in the industry.

About LuxFLAG (www.luxflag.org)
The LUXEMBOURG FUND LABELLING AGENCY (LuxFLAG) is an independent, non-profit-making association created in Luxembourg in July 2006. LuxFLAG supports the financing of sustainable development by providing clarity for investors through awarding its Labels to eligible Microfinance Investment Vehicles (MIVs) and Environment-related Investment Vehicles (EIVs). Its objective is to reassure investors that the labelled investment fund invests most of its assets, directly or indirectly, in the microfinance or environment sectors. The MIV/EIV may be domiciled in any jurisdiction that is subject to a level of national supervision equivalent to that available in European Union countries.

Is Mifos the only project with momentum? Or are there other platforms that exist under the radar?

[youtube]http://www.youtube.com/watch?v=E0OGeRdluyU[/youtube]

Any thoughts, opinions, or questions would be appreciated.

From their website:

Location: Miami, FL, US
-This VP position is an officer-level, strategic position responsible for creating, planning, coordinating, and disseminating a microfinance project and/or initiative

- This position must ensure management that all appropriate constituencies are adequately informed of the benefits provided by the implementation of such project

-The VP conducts field training, MIS analyses, makes recommendations to all levels of business management of gaps in strategies, processes or progress in such projects or initiatives, and documents emerging media coverage

-The VP must possess an understanding of Citi technology systems and vendor relationships

-Provides innovative perspective on targeted programs surrounding the product to senior management

-Manages product development and/or management lifecycle for products

-Identifies business opportunity and plays an active role in developing the appropriate integrated products for businesses to meet the target population

-Researches new and/or existing products, product enhancements, and product redesign that align the product development function with the goals of the organization

-Integrates in-depth industry and competitor learnings

-Develops the value propositions, including profitability analysis for all new and/or existing products

-Responsible for coordinating the roll out of new targeted programs and providing training for field for scalable implementation

POSITION RESPONSIBILITIES:

-Manages US Citi Microfinance asset building products (savings and credit) and designated clients, including project timelines, work plans, testing, resources, training and documentation of procedures and results

-Plans, coordinates, and disseminates accurate, timely information to internal and external constituencies such as Citi’s Microfinance business partners and our external strategic Microfinance institutional project partners for such projects

-Anticipates and alerts Citi Microfinance management of implications of policies, developments, and current events, and makes recommendations on changes necessary to ensure successful programs

-Coordinates and implements communication strategies for key issues and initiatives of the US Citi Microfinance team

-Assists Citi businesses in developing and disseminating appropriate collateral and marketing materials to support targeted programs

-Coordinates Citi Microfinance US events, presentations, and conferences involving external executives from various microfinance organizations and agencies and Citi Senior Management Executives

-Works with the technology and website development teams to manage and oversee the system development process including systems, technical design, coding, testing, and turnover to live production of application

-Assists the Global Director in the global media relations strategy in order to ensure that Citi Microfinance messages and images are appropriately conveyed to the public; establishes and maintains diplomatic relations with the internal media groups, and serves as the point of contact for questions concerning media issues; monitors and analyzes media coverage of Citi Microfinance

-Partners with technology, communications, product and web development teams to provide day-to- day support in maintaining the network information systems, platforms and internal/external websites

SKILLS REQUIRED:

-Excellent written and verbal communication skills

-Excellent time management and organizational skills

-Strong project planning and project management skills

-Proficiency with MS Word, Excel, PowerPoint, Visio, SharePoint and other data management and presentation applications

-Ability to handle multiple tasks covering multiple projects with varying delivery dates required

-Strong analytical skills

EXPERIENCE:

-College degree (B.A. or B.S.) or equivalent experience

-3-6 years experience in banking, operations and/or project management

-Demonstrated experience/interest in microfinance

-Past track record of being able to work on teams, with teams and independently with minimal supervision; work long hours, deliver a product on time, on budget and with sensitivity to the subject matter; extensive initiative, creativity and independent judgment; collaboration on complex issues, and strong leadership skills

HIGHLY DESIREABLE QUALIFICATIONS:

-Broad strategic experience developing and coordinating projects and media relations in a conglomerate; exceptional communication skills; strong conceptual, analytical, leadership, and project management skills; ability to collaborate with diverse and competing interests; working knowledge of Citi businesses systems and operations; knowledge of microfinance concepts and programs.

FURTHER ABILITY TO:

-Interact with senior executives; develop comprehensive communication strategies; prepare executive level reports and correspondence; maintain tact under stress; use persuasion, discretion, and independent judgment in representing Citi Microfinance to Citi global businesses.

-Work diplomatically with competing interests; apply problem solving and process improvement techniques; coordinate the efforts of others over whom one has no direct authority; conduct research; participate in and lead cross-functional project teams; meet critical deadlines.

For more info and to apply, visit the jobs.citi posting.

[via BrazenLife]