November 25, 2014
For immediate release
Shamubeel Eaqub appointed to ADC Executive Board
New Zealand-based microfinance charity ADC is delighted to announce the election of prominent economist Shamubeel Eaqub
as a member of its Executive Board.
Mr Eaqub, Principal Economist at the New Zealand Institute Economic Research, says he is looking forward to using his
skills and connections to help ADC build on its successes in providing poverty-alleviating microfinance services in
Myanmar and Malawi.
“ADC’s focus in enabling, developing and helping people help themselves means it is a sustainable initiative.
“Being poor is expensive and the poor have few financial services available to them. Microfinance is hands down one of
the most effective tools to break the poverty trap.”
Mr Eaqub, who was first told about the charity “over beers a couple of years ago”, believes ADC's young founders and
core supporters give it a generational advantage over other organisations.
Executive Director Andrew Colgan says Mr Eaqub’s skills in economic and strategic analysis will be valuable in helping
ADC achieve its goal of supporting poverty-focused, sustainable development with meaningful outcomes for those it
serves.
"We also hope that the involvement of one of New Zealand's foremost independent economic commentators will help to boost
to our profile as we continue to grow as an exciting, dynamic development organisation,” Mr Colgan says.
About ADC
ADC supports entrepreneurs living below the poverty line in Myanmar and Malawi to build their own businesses, helping
communities work their way out of poverty. We work with local partners to provide micro-loans to these people,
empowering them to take control of their own economic destiny. ADC was founded in 2007 and is a NZ-based charity run by
young professionals passionate about making a difference.
“ADC - credit where credit is due.”