Micro Loans For Women Impacted by HIV/AIDS, Zambia

In 2019, generous donors such as yourself donated more than $12,000 to support Power of Love's micro loans program in Zambia. These funds helped provide new loans, business training, refresher training, and on-site business mentoring to more than 400 women entrepreneurs in Zambia. All program activities are designed to increase skills of vulnerable women and children and resulted in a huge and sustained impact on hundreds of families in our community.

A lot of Good Things Happened in 2019

We are thrilled that in 2019, hundreds of loan recipients such as Jane and Mary (see pictures), were more financially literate, built an asset base for their families, were running successful businesses, and took steps toward self-reliance. Here are some heartwarming numbers from the field:

• 375 out of 400 women are on track with repayments.
• 245 women have expanded their businesses and/or diversified their product line by adding higher value items such as soft drinks, meat etc.
• More than 300 women have built an asset base by investing in land/cement blocks or extending their homes or shops. In addition, 90 women moved from selling by the roadside to selling from a shop.
• 41 women moved to an independent accommodation from being dependent on relatives for shelter.
• Most women are more financially literatea and save via banks. For example, 202 women are saving a small amount every week. Out of these 133 are saving via mobile banking/bank accounts and 69 via commercial banks. The women prefer mobile banking as opposed to traditional bans due to its convenience, and zero fees.
• Earnings from businesses helped pay for school expenses or vocational training for more than 500 children. 
• 136 women purchased large household items such as stoves, freezers, TV’s, furniture;
• 322 women purchased small household items such as pots, pans, radios.
• The diet and health of all 400 families (approximately 2800 family members) improved.   

Overall, most loan recipients learn how to run a business and have gathered enough capital to continue running their business in a relatively short (about 10-18 months) span of time. Second, with better knowledge about HIV, families have more open discussions that leads to a reduction in stigma and in prevention of HIV. In addition, loan recipients are role models, enjoy a higher status which results in improved gender equity. Finally, the impact of this program is multi-generational as the women can pay for school expenses for their children who will grow up to be well-informed, self-reliant individuals.

Plan for 2020

• Provide new loans and business training to 50 women in March/April 2020.
• Provide business training and loans to 300-350 new women.
• Provide refresher training to 300-400 women.
• Provide business mentoring training to 450 women.
• Provide ongoing business mentoring and advice via on-site visits.
• Encourage more graduates to mentor new loan recipients.
• Track the 450 active businesses intensively so they continue to operate in the community even after the women graduate.
• Track businesses run by graduates to learn from past experiences.

Thanks for giving hundreds of vulnerable women an opportunity to become successful entrepreneurs. 

Links:

• About our micro loans program
• Together We Can End Poverty by 2030
• Business Training Helps Grow Entrepreneurs