The Women’s Microfinance Initiative is a charitable organization that helps African women set up financial stability. This allows the women to have steady income, raises their standard of living and allows more freedom. The projects they have instilled are banks that give out small loans to aid the women. They have been quite successful. It was very nice to read about a successful aid organization project.
Most of these women are using the loans to start small businesses. The organization doesn’t say what the business has to be. The women have free reign. This allows for the African women who wish to develop and run a business in their traditional African ways can do so. The small businesses have been doing so well that repayment of the loans is 100%. These loans allow for financial security. The women are able to provide a steady income for their families. If the repayment figure is at 100% then the business created by these go-getting women have to be thriving and doing well.
Due to the success of the small business of the African women they can live a bit more luxurious life. Milk with tea, honey, and sending their children to school are all things these women can do now. A woman being able to send her children to school is the most important in my opinion. Because the loan makes it possible for the mother to obtain enough income to further educate her child, that child has a brighter future. This child could go on to do so much! The child could secure a job with financial stability and give back to his town. These loans are starting a chain reaction that will lead to development in a healthy traditional African way that the people seem to be pleased with.
In the Photo: Namono Lakeri is a single mother of five. She received a loan of an equivalent $125 US dollars. This loan made it possible for her to expand her business.