"Microfinance has proved its value, in many countries, as a weapon against poverty and hunger. It really can change peoples' lives for the better - go especially the lives of those who need it most. "
Secretary General Kofi Annan

Shared Interest is celebrating the Year of Microcredit at its 5th annual awards dinner at Gotham Hall in New York City on Monday, February 28, 2005. The evening will celebrate 11 years of triumph over apartheid and will recognize the ongoing commitment of all those still working to advance the economics rights of all of South Africa's people.

Event Chairs, W. Frank Fountain, Senior Vice President - External Affairs and Public Policy (Auburn Hills), DaimlerChrysler Corporation and Will Stephens, Vice President of International Government Affairs, Johnson & Johnson will preside over the evening that will honor an outstanding group of individuals: Tokyo Sexwale, one of South Africa's most successful political and business leaders, Carl Ware of The Coca-Cola Company and the Bergman family (Stanley, Marion, Paul and Edward).

With a star-studded roster of Honorary Committee members this year including the likes of Morgan Freeman, Cicely Tyson, Bonnie Raitt, David Dinkins, Danny Glover, Alfre Woodard, South African Ambassadors Barbara Masekela and Dumisani Kumalo, and Consuls General Filkile Magubane, Yusuf Omar and Jeanette Ndhlovu - and a cause near and dear to many, Shared Interest's annual dinners have proven each year to attract an exceptional group of international dignitaries in fields of politics, business, international development and entertainment.

Since 1994, Shared Interest has continued to work to lay the economic foundations for South Africa's democracy by strengthening the financial partnerships between U.S. supporters and South Africa's increasingly self-sufficient grassroots communities. Working through its South African partners, Shared Interest partially guarantees the loans it convinces mainstream banks to make to communities they would otherwise exclude due to their race, gender, income levels and, more recently, health status.

The fund is capitalized by loans from individuals and institutions across the United States. Every dollar placed in guarantees had unlocked more than $10 in loans to low-income South Africans. "To date, no lenders have lost any interest or principal as a result of making loans to Shared Interest," said Executive Director, Donna Katzin. "But they have had the unique opportunity to participate in building a new nation."

Shared Interest's work has benefited more than 375,000 South Africans of color (the majority of them women) by providing them with the capital they need to launch small businesses, create jobs and affordable homes, build community facilities and projects that generate income in impoverished rural areas.

Please join us for this memorable event. If you have any questions, please contact the Benefit Office at (212) 675-9474 ext. 19, or by fax at (212) 675-9834.

Shared Interest

Shared Interest

Shared Interest, an $11.4 million not-for-profit investment fund, mobilizes resources for South Africa's economically disenfranchised communities to sustain themselves and build an equitable nation. The fund guarantees bank loans and mobilizes technical assistance for low-income communities to construct houses, create jobs, and launch small businesses. Launched in 1994, Shared Interest has benefited more than 975,000 black South Africans - more than 75 percent of them women.

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