Thrive, a not-for-profit organisation which supports refugees establish their own business enterprises in Australia, has appointed micro-finance expert and Afghan refugee Mahir Momand as CEO.
Thrive Chairman and co-founder John Curtis said Momand’s breadth of experience establishing and growing micro-finance institutions for international development agencies and spending two-thirds of his life as a refugee, made him a standout candidate for the role.
“Thrive is absolutely delighted to have someone of Momand’s calibre lead Thrive which will provide micro-finance and business mentoring support for refugees who aspire to run their own business in Australia,” said Curtis.
“Not only are Momand’s employment credentials outstanding but his life experience as a refugee — fleeing Afghanistan from age one and living as a refugee for most of his life in Pakistan, Canada, and Australia — has given him an acute understanding of the plight of refugees and the importance of helping them become economically independent.”
Thrive will offer micro-finance loans and business support services to refugees when it launches in April, ultimately giving refugees business and banking credentials and records which they can then use to apply for commercial loans.
Thrive has partnered with Westpac which will loan Thrive $2 million to be used for micro finance loans and a Chief Operating Officer to help establish Thrive as a stand-alone entity by developing all elements of its operations from credit policies to loan documents. Thrive has also partnered with refugee specialist resettlement organisations Settlement Services International (SSI) and AMES to help it identify loan applicants and refugees seeking business support services.
Momand, who has lived in Australia since 2012, has worked for the World Bank and the United Nations High Commissioner for Refugees, and helped establish 165,000 small and medium businesses in Afghanistan that provided a livelihood for nearly 1 million people.
“Giving refugees the opportunity to be financially independent and make a meaningful economic and social contribution can be life changing for them and have a tremendously positive flow-on effect for the broader community,” he said.
“Many refugees living in Australia are very self-motivated and entrepreneurial and Thrive will provide them with the necessary support and knowledge of the Australian business environment that is essential before starting a business.
“As CEO of Thrive I not only want to grow and develop the business but highlight the vital contribution refugees make and the benefits they deliver to Australia.”