Why did you call your machine a MFRFP?
MFRFP is an acronym that stands for Multi Functional Rural Fuel Platform. MFP's or Multi Functional Platforms are well known poverty alleviation systems. We have taken the original MFP concept and added the rural fuel component to it, so it seems to make sense to call it a Multi Functional Rural Fuel Platform.
Who will buy a MFRFP?
Our target market is poor, rural, farming communities in developing countries.
How can the rural poor afford to buy a MFRFP?
We will provide the capital for the rural entrepreneurs or communities to buy the equipment. The rural entrepreneurs or communities will grow oil seeds, use the MFRFP equipment to produce rural fuel and use some of the proceeds of those rural fuels sales to pay off the equipment over time.
Are you crazy loaning money to poor people that have no collateral?
Grameen Bank has a repayment rate that would make western banks swoon. When Muhammad Yunis started the Grameen bank, people said are you crazy!!! making loans to people who have no collateral. A Noble prize and 6 million customers later indicates that Muhammad Yunis was not crazy!!!!
Poorer countries tend to have Forex restrictions, how you will you get your cash out… at best won't you you just end up with lots local currency?
Kiva.org on a “Peer to Peer” basis, have now made thousands of loans all made via the internet, worth millions of dollars. Kiva has achieved a 100% repayment rate with small loans made by individuals in the developed world to poor, entrepreneurs in developing countries. All these loans were made in US Dollars or Euros, loaned to the entrepreneurs in local currency and re-paid in the currency of the original loan.
What about breakages, is there a way that you can build a piece of equipment that can withstand a demanding rural environment and its propensity to break systems?
In Mali, there are over 450 Multi Functional Platforms, installed and running. All the Mali platforms have been kept running using local engineering. That is why we are designing the MFRFP platform to be very durable and repairable with parts readily available in the country it is being installed in.
