Self-sustaining micro finance initiative issuing collateral-free, interest-bearing loans, for as little as $50, to poor women in rural East Africa. Total $250,000.
1,000 Microloans Community Empowerment Scheme for Rural Women in East Africa
Summary
Self-sustaining micro finance community empowerment initiative issuing collateral-free, interest-bearing loans, for as little as $50, to poor women in rural East Africa to start businesses to support their families.
The borrowers' priorities for the use of their profits are: better nutrition, healthcare and paying school fees for their children. WMI provides outreach in all of these areas by empowering women with options to provide better care for their families.
Challenge
Children Global Initiative is tackling global poverty and the disenfranchisement of impoverished, rural women in East Africa. The main goal is to provide over 25,000 microloans to chronically poor women in Uganda, Tanzania and Kenya, many supporting orphans, Borrowers start small businesses and use their profits to pay for school fees, food and healthcare. Communities benefit as borrowers hire helpers and advocate for local improvements.
Solution
Children Global Initiative will-screen, train and issue loans of $50 - $250 to impoverished women to start businesses. CGI will organize borrower meetings, conduct site visits, provide ongoing business education and introduce women to dealing with the local bank.
Challenge Long-Term Impact
Empowering women living in desperate poverty in rural East Africa promotes in-country development from the bottom up. Women become involved in grass roots movements and advocate for far-reaching social and economic changes in their own country. The borrowers' priorities for the use of their profits are: better nutrition, healthcare and paying school fees for their children. WMI provides outreach in all of these areas by empowering women with options to provide better care for their families.