By Alka Subramanian | ED/Founder, Power of Love Foundation
Update on Power of Love's Project “Micro Loans for Women Impacted by HIV/AIDS in Zambia”
Power of Love’s micro loans program helps women impacted by HIV/AIDS take the first steps towards breaking the cycle of poverty, acquiring a marketable skill and becoming self-reliant. We would like to sincerely thank the Mary D. Fisher Fund and other donors who continue to support this program. It is with your support that we are able to provide business training and small loans to women impacted by HIV/AIDS. In addition we monitor the businesses and provide business expertise to all loan beneficiaries to ensure the success of their businesses. Your support goes a long way in improving the lives of women and families impacted by HIV/AIDS in Zambia. Microfinance has transformed the lives of many poor mothers and grandmothers in AIDS-stricken Africa and is truly a powerful tool in helping women become self-reliant.
In 2011, as a result of your support, we were able to provide business training and small loans to 50 new women “entrepreneurs” in Lusaka, Zambia. In addition we continue to monitor and provide support to the 100 women who were provided with loans and business training in 2010.
Loans provided to 50 new women “entrepreneurs” in September 2011
1. Fifty women were identified (based mostly on need and ability to run a business), who would be provided with loans and business training. A list of the 50 women is given below.
2. Business training was provided to the 50 new women entrepreneurs in September 2011. Training was provided in 2 sessions with 25 women in each session. The 5-day business training was attended and completed successfully by all 50 women.
3. On September 15, 2011 loans were provided to 50 women in the amount of approx. $130 each. The women have started making repayments and we expect that the loan cycle will be completed in 6-8 months.
4. Some of the businesses started by the women are:
a. Groceries (Mille meal, rice, sugar, cooking oil, soap, vegetables, dried fish, dressed chicken, popcorn), b. Used goods (clothes, shoes, handbags), c. Hair salon/ Barber shop, d. Cell phone covers and chargers.
Attached is a picture of one of the women's new hair salon. She now works with her sister and both are building financial stability for their families. The salon owner is proud of her hard work and successful outcome and enjoys giving her clients pleasant feelings about their appearance and contributing to their happiness.
Mechanics of the Micro Loans Program:
The small loans and business training and monitoring successfully enable women to engage in self-employment projects. Loan beneficiaries (a total of 150 women) meet weekly with the loan officer to make loan repayments, and discuss business related issues and issues related to HIV/AIDS, schooling of chidlren with other women entrepreneurs and the loan officer. In addition, individual women meet regularly in groups of four which helps to aid in decision making and provide support for each other. Loan repayments are made in 25 weekly installments. The women who are eligible may receive up to 3 loans over 1 ½- 2 years. At present there are 150 loans in process with a 85- 90% repayment rate @ 10% interest.
Impact of the Micro Loans Program
On average each women provides care to 7-8 people in her household. This means that the total of 150 loans benefit 1100 people directly and an additional 1100 people indirectly as our loan beneficiaries talk to other women and encourage them to go in or testing, take medicines and start a new business to become self- reliant. These loans help a poor household meet basic needs, protect against unexpected financial expenses and help keep the children in school. For some women there is a dramatic improvement in standard of living so they may even graduate out of poverty. For all involved there is perceived improvement in gender equality, improved economic welfare, and a sense of wellbeing and self-empowerment. Some of our women entrepreneurs have become role models not only for other women in the community but for men as well. All of the above indicate that this program is making a significant difference in the lives of several thousand people in Zambia and we expect this change to be sustained over a long period of time.
Appendix - Names of New Women Entrepreneurs Provided Loans in 2011
NAMES
1 Jane Phiri
2. Nancy Simukonda
3. Brenda Mwansa
4. Diana Chulu
5. Elestina Z. Moyo
6. Mary Malunga
7. Claudia Fellouis
8. Mary Ngoma
9. Milika Mwanza
10. Adina Miti
11. Malibisa Malibisa
12. Mary Mbinda
13. Bethar Shumba
14. Alice Miti
15. Caroline Mumba
16. Getrudy Mvula
17. Esther Tembo
18. Florence Kwanja
19. Margaret Zinkata
20. Monica Makolesa
21. Esther Matukuta
22. Fllornce Nzumba
23. Ireen Chikota
24. Doreen Phiri
25. Ireem Chuma
26. Wintness Nyirongo
27. Dorothy Mbewe
28. Pamela Chiwe
29. Anna Muyanga
30. Agnes Kakoma
31. Helen Temo
32. Susan Zulu
33. Sharon kunda
34. Mwenya Chilekwe
35. Malesiyana Bunda
36. Mary Ngoma
37. Eunice Banda
38. Musanide Mwenda
39. Margaret Lungu
40. Chewe Chota
41. Josephine Ngulube
42. Ines Mwale
43. Doreen Chipasha
44. Jane Mulenga
45. Faides Khuni
46. Juatina Banda
47. Alice Mudima
48. Charity Cuma
49. Erika Kayuni
50. Doric Cheleshe
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