Opportunities for the Majority Index – Innovest Final Report December 21, 2007
Human Capital
Cajasur places no restrictions on hiring from low-income communities. In fact, Cajasur branches are often staffed by natives of the very rural areas where the bank operates. Hiring of locals is an important aspect of Cajsur's business and it is encouraged by the BBVA Foundation for Microfinance, of which it is a member. Indigenous communities are represented, as they form the bulk of the population in Cajasur's business areas. Recruitment is highly informed by the principles of the BBVA Foundation.
Stakeholder Capital
Cajasur works closely with local institutions and municipalities. Customers are not seen as objects to be exploited; there appears to be a respectful relationship with customers, most of whom are low-income. Customers often work directly with members of their own community, removing typical social barriers that prevail between customer and staff in traditional banking institutions. To this end, Cajasur has even facilitated the transfer of migrant revenues to local areas, by establishing a partnership with Western Union, such that customers in rural areas gain more access to these revenues. There are some limitations, enforced through the type of loan; cultural habits fostered by governments that forgave land loans in the past have influenced Cajasur; accordingly, it offers loans that primarily target smallscale animal raising activities, suggesting there is some prejudice. Nevertheless, Cajasur has recognized that low-income customers pay more regularly than others do. Cajasur works directly with local 'entrepreneurs' and hires mostly local staff. Apart from providing small loans to local farmers, Cajasur, works with specialized Spanish NGOs and agricultural NGOs to help locals improve the quality of the meat of their alpacas.
Environment
Cajasur offers small loans typically sued for small scale and organic animal raising (alpacas for the most part, preferred by the natives); in this sense it faces limited environmental risks, it also operates in areas less affected by weather/climate related problems. In Peru this is important, as it feels the effects of such phenomena as 'el-nino' very strongly, including floods. These problems are more of a risk in the coastal areas, whereas Cajsur concentrates in the mountainous areas of the south. Still, Cajasur has worked on some environmental efforts such as promoting the cleanup of the coastline through the Patrulla ecological campaign. 4.43
Final Score
7. DESARROLLADORA HOMEX, S.A.B. DE C.V.
Country:
Mexico
Sector:
Homebuilding
Business Description:
Desarrolladora Homex SAB de CV (Homex)’s principal activities include the construction and selling houses in Mexico. The company’s housing projects are divided into three sectors according to cost: Entry-level; middle-income; and residential. As of December 2005, the company had land reserves of approximately 13.1 million square meters and also had an approximate of 14.3 million square meters of land for which it had signed purchase agreements and made partial payments. Homex operates in 28 cities and 18 Mexican states. The firm employs around 11,948 people. Revenues in FY 2006 exceeded $1.15 billion.
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