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Patrimonio Hoy: A Financial Perspective - Case Study Example

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Patrimonio Hoy: A Financial Perspective

The company operates outside Mexico, in different countries across the globe which include Egypt, Colombia, Venezuela, and the Philippines. In order for CEMEX to respond to the self-construction market, Francisco Garza, the companys President of North American operations has designed in 1998 a program called Patrimonio Hoy, or Patrimony Today, as its direct translation.
CEMEX has started Patrimonio Hoy, or PH for a market research initiative of learning a market segment that it does not have any idea about—the self-built segment. Research has later found out that the majority of the people who belong to this market segment are lower income earners who build a 100-square meter room for an average of 208 weeks. Garza has seen this as an opportunity to reach out to the lower-income segment by providing them a program that provide them quality service and materials in finishing the rooms that they built.
The PH program is built around the idea of tanda, a type of savings and loan program where members contribute a certain amount to a communal pool and the total of the communal pool is given to a member weekly. Receipt of the total of the communal pool is rotated among the members, and the order is determined by drawing lots. The PH program serves as substitute because of the lack of financing sources, and high financing costs for the low-income earners in the country.
The PH program has earned a lot of accolades because they system has been perceived as a corporate social responsibility move on the part of CEMEX. The PH system works as follows: members are required to pay 120 Mexican pesos each week, which comprised 105 pesos to be allocated to the funds in buying construction materials, and the remaining 15 pesos each week. These communal funds are used in order to revolve the fund among a group of three families, to finish their construction within the 70-week period. However, because inflation is a major consideration in many ...Show more


While the program has been perceived as social responsibility on the part of the company, Francisco Garza, the President of CEMEX North American operations feel it is better…
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