Guayaquil is the largest city in Ecuador and undoubtedly one the most important. It serves as the nation's main sea port and is the heart of Ecuador's fishing and manufacturing industries. The city is extremely energetic and hectic. There always seems to be a large amount of traffic and people are constantly in a frenzy to get things done. Guayaquil is also known for its great night life and its lively people.
Guayaquil has experienced a great deal of growth and development since around 1990. City Mayor Jaime Nebot led a major construction campaign that has benefitted the city greatly. There has been a great amount of new sidewalks, streets and highways built. There is also a new sewage system, underground phone and power lines, and a new bus transit system.
But along with being the biggest and most populous city, it is also the poorest and most troubled in the nation. Guayaquil has long been a refuge for poor people from around the country who migrate to the city looking for jobs and new opportunities. Recently there has also been a surge of foreigners, mainly from Colombia and Peru, who are seeking to make wages in dollars to send back home.
Poverty is evident throughout most areas of the city, but it is at its worst on the outskirts of Guayaquil. If one stands and looks out into the surrounding hills, it is hard to miss the thousands of houses that have been built there. They represent the worst slums of Guayaquil where extreme poverty is only one of the problems affecting the community. The levels of violent crime are extremely high and basic services such as clean water are non-existent.
While some local microfinance institutions have attempted to serve these communities, they only go as deep as the main streets that pass through the city. They do not dare to venture deep into the hills and into the slums where the poorest people are in most need of financial assistance.
Thanks to the strength and experience of our staff, Mifex has been able to serve these people. We work in two of these sectors in the marginalized urban sector, la Isla Trinitaria and Lomas de la Florida. To see pictures of these areas please visit our photo gallery. While most institutions won't waste their time on loans as small as $200, Mifex has opened the door to the community, thanks to the support of Kiva and its great base of lenders. We have also built strong community roots through our MERIT Centers where we provide courses that educate and enrich the youth and adults. Therefore, our staff and our company have established a presence in these slums and we have gained the support and respect of the community. This has allowed us and will continue to allow us to work for the growth of small businesses and the eradication of poverty.