Ana of Aflore Named Finalist in “Women In Business Competition”

Ana is tearing up the startup world!

In addition to growing Aflore to 100+ informal advisors and a disbursed loan portfolio of $50,000 as of September 2014, Ana has just been named a finalist in the fifth annual Women in Business Competition.

The competition is open to female entrepreneurs who are working on a for-profit business that has a positive social or environmental impact. The business needs to be located in an emerging market, such as Colombia.

Ana was selected due to her work on Aflore, which addresses a white space in consumer financial services for the underbanked in Latin America by creating a new channel leveraging on existing trust networks. With aims to reach a potential market size of 12.7 million people, Aflore currently distributes loans through a network of informal financial advisors who are able to engage with “customers” that current financial institutions are not addressing. This model also allows Aflore to gain a more complete picture and understanding of risk assessment while keeping operational costs low.

We’d like to congratulate Ana on her nomination and also celebrate the four other women making waves around the world:

  • Yuli Torres of Sumaq Qara, a startup from Peru that produces textiles embroidered with applications in high-quality leather, and supports female victims of terrorism, domestic and sexual violence
  • Suzana Moreira of moWoza, a startup from South Africa that provides a mobile phone shopping channel for low income cross-border migrants living away from home and allows their beneficiaries to access goods at competitive prices
  • Claudia Esparza of Nanas y Amas, a startup from Peru that promotes decent work and fair wages for domestic workers
  • Dora Karani of Garden City, a Burundi agri-business company that has been growing mushrooms for the past seven years in the city of Bujumbura and aims to export them to the larger population

Here’s to all the great female entrepreneurs making the developing world better, day by day!

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