News

Case Study Centre

5th November 2010

ADC is delighted to report a new partnership with the University of Auckland Case Study Centre. The centre produces case studies that document milestone and trends in leadership and management within New Zealand businesses and institutions. The relationship is giving ADC good profile in the University system, stimulating discussions about best practice development, and is an avenue for working with students to think laterally about new directions for ADC.

10th September 2010

Most exciting news from the latest financial reports and indicators is seeing that, from the opening of the bank in September 2008 until June of this year, the ZMF bank has given out over $36,000 (NZD) worth of loans to around 129 people. Thanks to the money being recycled, this figure is higher than the total amount of money ADC has supplied to the project, even accounting for the money used to fund the start-up and operating costs of the project! Operational sustainability is at 71%, up from 43% in March 2010.

Repayment rate is at 93% and demand for loans continues - with 50 more clients on board since June. The report also contains a client profile, latest news, and anoverview of where things are at both in NZ and with ZMF.

If you would like to see the full report, email info@adc.org.nz and we shall send you a copy

Helen Clark on the work of ADC

22nd August 2010

UNDP Administrator Helen Clark spoke last Friday at the Christchurch Cathedral on 'The Millenium Development Goals - the next five years'. She had this to say about our project:

The Aotearoa Development Co-operative formed by two young Aucklanders to provide microcredit in the north of Myanmar. These young men in 2006 put aside $100 a week from their earnings to start the scheme. The micro bank they kick started now has 200 clients and six different products. At the New Zealand end, the organization is run by volunteers.

It is this spirit of solidarity and this kind of commitment to social justice which, globally, can make such a difference for the better in the fight against poverty.

See the whole speech here.

Quiz night raises $3000!

3rd August 2010

Thank you so much to the over 150 people who made it along on Saturday to our annual fundraiser quiz - the night was a huge success and we were delighted to raise so much money for the project. 26 teams battled it out for the prize hamper, testing not only their trivia knowledge but playdough sculpture abilities too.

Congratulations to team Zambia who took out the top spot! All the money raised will be sent to the ZMF bank, allowing more loans to be given out in the near future. We will keep you posted. Thank you once again!

Another Quiz night to come

25th June 2010

On the 31st of July 7-9.30pm we will be having another Quiz night to raise funds for ADC. It's going to be held at St Adian's Church Hall, 5 Asoct Ave, Remuera. $120 for a team of 6. email us now to book a table for you and your friends!

More than triple the expected numbers at May training

1st June 2010

Our dear local managers report an incredible 140 people turned up for the client training day in May, more than triple the 40 people they were expecting. This reflects the growing interest and demand for loans from the ZMF bank within the community. ADC now needs to rise to the challenge of raising more money to expand the bank's capital to match!

January training day a huge success

17th January 2010

More than 70 people attended the training session held last week to become eligible for the next round of loans. Following client selection, 9 groups of 5 clients each were formed and over the next fortnight loans will be given out - 45 new loans to start of 2010!

Project visit sees encouraging progress

1st December 2009

Geoff and Andrew from the ADC exec spent an action-packed two weeks visiting the project in November. They met all the clinets, attended the weekly meetings and spent many hours in discussion with the local managers and oversight committee regarding how the bank can expand. They were excited to report that the pilot loans have all been paid back successfully and 80% of these first clients are keen to apply for another loan.

Donee Status Application underway

1st December 2009

ADC is working hard to gain Donee Status with the IRD allowing all donations to the organisation to qualify for a tax rebate at the end of the financial year. As ADC sends the majority (in fact more than 95%) of the funds it raises overseas, a special exemption is required in order for the charity to receive Donee Status. Our application for this exemption is nearly complete and will be sent to the IRD shortly.

Dunedin Pulse set to support ADC

1st September 2009

Dunedin Pulse is an all age charity event to be held in Dunedin on September 5th. The evening will feature some of Dunedin's leading bands including Incarnate, Made In China, the Du Cats Kit and CanaanSide. All proceeds are going to the work of ADC. There has been a lot of support
for the event and for supporting the cause. Dunedin City Council funded the gig and have offered to send a number of youth delegates to help out. The venue, Sammy's, also offered to contribute, along with the Knox Centre for Ministry and Leadership, The Mean Team, and the Music Resource Trust.