It’s that time of month again! This August, we would like to talk about the Microloan Foundation. This charity works with the poorest in sub-Saharan Africa to provide them with the finances, tools and skills they need to become self-sufficient by starting a small business. This form of support can prove to be far more productive than traditional charitable giving, which can often lead to increased reliance on foreign aid.
How does The Microloan Foundation work?
The Microloan Foundation’s motto is ‘We give hope, not handouts’ and it is extremely apt. By assisting the poorest African women out of generational poverty, this charity is offering the continent hope of economic stability and growth.
By providing African women and families with what they need to start small businesses, they can make savings, gain access to healthcare, education and ensure food security. What’s more is that 99% of these loans are repaid, so the money can be used again and again.
This charity operates in Malawi, Zimbabwe and Zambia – three countries that are in real need of financial assistance with increasing issues with inequality and poverty. Over 150 local people are employed across 27 branches in these countries, half of which are skilled Loan and Training officers. Between them, they can support up to two thousand groups of women.
How to get involved
There are three main ways that you can get involved with this brilliant charity.
- 1, Companies, trusts and foundations can establish a partnership with The Microloan Foundation for continued corporate sponsorship and involvement with initiatives on the ground
- 2, People from anywhere in the world can set up fundraising events like cycles, walks, races and bake sales, and donate the proceeds to the Foundation
- 3, Women can join the Women’s Development Board to help the Foundation establish and develop new business opportunities, or by offering advice
- 4, You can join a local community fundraising group, such as a school or church, to take part in any fundraising events on the horizon (or even set up your own!) You can read more about this here.
Whether you’re an individual looking for a new challenge, an entrepreneur or a business, take a look at The Microloan Foundation online to see how you could get involved to make a difference.