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Telecom News:Azteca America Chairman Luis J. Echarte Offers Microfinancing as an Answer to Global Migration Challenges2 December 2005
Microfinancing is a powerful tool whose implementation around the world has only just begun -- and as it spreads, an increasing number of working poor will be empowered with the capital and capabilities they need to drive economic growth and job creation, according to Luis J. Echarte, Chairman of Azteca America, a Grupo Salinas Company.
Mr. Echarte, together with international business leaders, actively participated in the premier International Organization on Migration (IOM) Director General's Business Advisory Board meeting in Geneva earlier this week.
This week's session was the first meeting for the newly-formed Board, which is composed of 14 business leaders -- Tadashi Okamura, Chairman, Toshiba Group; Shafik Gabr, Chairman & CEO, ARTOC Group for Investment and Development; John Conroy, Chairman, Baker & McKenzie; Dr. Dae Whan Chang, Chairman, The Maeil Group; Ms. Carla Cico, Former CEO, Brasil Telecom; Mr. Kais Daly, Chairman and General Manager, Groupe Chimique Tunisien; Dr. J.P. Huang, Chairman, JPI Group; Mr. Paul Laudicina, Managing Director, A.T. Kearney; Mr. Carlos Moreira, Chairman, WISeKey SA; Mr. Ikram ul-Majeed Sehgal, Managing Director, Pathfinder Group; Dr. Jannie Tay, CEO, The Hour Glass, Dr. Naresh Trehan, Executive Director, Escorts Heart Institute and Research Centre; Claude Bebear, Chairman of the Supervisory Board, AXA; and Ricardo B. Salinas, Chairman, Grupo Salinas -- representing a cross section of industries and interests worldwide.
Mr. Echarte, himself a Cuban refugee, who served as an alternate for Grupo Salinas Chairman, Ricardo B. Salinas, stressed that the migration of an individual or a family is a misfortunate situation to the country that loses some of its most dynamic people. "Using microfinancing, countries will be able to provide their citizens with opportunities for self-development and put an end to migration out of desperation."
"Private business men and women need to work together to take an active role in lobbying policy makers in their own, as well their neighbor countries to ensure that the process for migrants is more productive, efficient, and humane for visiting workers. Microfinance initiatives can aid these efforts," Mr. Echarte continued.
The Board will focus on the global labor market, with an emphasis on an analysis of trends, the treatment of workers, forms of integration, and on the social and political impact and use of remittances, an important consequence of migration.
"The private sector has an important influence on policy and economic development, and is becoming increasingly aware of the importance of corporate social responsibility, just as migration, while opening up new business opportunities, is also posing new challenges," Brunson McKinley, IOM Director General, said in a statement. "The Board constitutes a network of contacts to exchange advice on developments in international migration from a private sector perspective. It will help IOM develop and implement migration policies and programs responding to current and emerging needs."
Grupo Salinas is a pioneer in microfinance, with more than 50 years of experience building programs. In 2004, Grupo Salinas started the Empresario Azteca Program, a formal development program for entrepreneurs in Mexico. Through this program and the Azteca Entrepreneur Association (ASMAZ), the company provides support to small businesses by leveraging the skill and managerial experience, financial backing, market strengths, purchasing power, and extensive distribution network of Grupo Elektra, Grupo Salinas' retail division.
Mr. Echarte added, "The private sector, including companies like Grupo Salinas, and those run by other Business Advisory Board members, is uniquely positioned to find solutions to global problems such as migration and the conditions of global workers. Through the combination of Elektra, and the banking business, Banco Azteca, we open 50,000 new savings accounts every week and grant 80,000 new loans to the working-class averaging US$254 each, a very important accomplishment considering that 70 percent of the population in Mexico is under-banked."
Mr. Salinas will continue his global focus on these critical issues through his participation at the World Economic Forum in Davos, Switzerland in January 2006.
About the International Organization on Migration (IOM)
As the leading international organization for migration, IOM acts with its partners in the international community to: assist in meeting the growing operational challenges of migration management; advance understanding of migration issues; encourage social and economic development through migration; and uphold the human dignity and well-being of migrants. For more information, visit http://www.iom.int .
About Azteca America
Azteca America is TV Azteca's wholly-owned Spanish-language broadcasting network for the US Hispanic market. Launched in the fall of 2001, Azteca America currently covers 39 US markets, which represent 77% of the US Hispanic households. With affiliates in Los Angeles, New York, Chicago, Miami and Houston, Azteca America already has presence in 14 of the top 15 US Hispanic markets.
About Grupo Salinas
Grupo Salinas is a group of dynamic, fast growing, and technologically advanced companies focused on creating shareholder value, building the Mexican middle class, and improving society through excellence. Created by Mexican entrepreneur Ricardo B. Salinas, Grupo Salinas operates as a management development and decision forum for the top leaders of member companies: TV Azteca, Azteca America, Grupo Elektra, Banco Azteca, Afore Azteca, Seguros Azteca, Unefon, Iusacell, Movil@ccess, Todito.com and Telecosmo. Each of the Grupo Salinas companies operates independently, with its own management, board of directors and shareholders. Grupo Salinas has no equity holdings. However, member companies share a common vision, values and strategies for achieving rapid growth, superior results and world-class performance.
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Source: Azteca America
Source: PR Newswire
All trademarks and copyrighted information contained herein are the property of their respective owners.
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