Project Report
| Mar 9, 2012
Microfinance Funds Help Transition Business of Woman-Owned Small Business in Sierra Leone
By Sylvester Renner | Project Leader
![Seray - microfinance / microcredit beneficiary]()
Seray - microfinance / microcredit beneficiary
Warm greetings-
Hope your year is going well. Its with joy that we share a video testimonial by Seray - one of the female beneficiaries that we have together helped by providing microfinance funds. Seray is a repeat recipient of microcredit funds.
In the video Seray expresses her gratitude to Develop Africa and its partners (that includes YOU and other GlobalGiving donors) who have helped to provide the funds. The video was recorded during a business training session offered to fund recipients - as part of the support provided to help them succeed. In the video you can see some of the other training session participants.
Watch Video (1.5 minutes)
As Seray explains in the video, the fund provided has "really helped me - taking me from where I was to where I am now. At least, it has helped me with my business, all through out the year, last year. ... It also helped me open a bank account. ... I bless God for the people that initiated this idea. I bless God for the partnership that was able to choose me to benefit from this funding. I pray that that God will bless them in whatever they are involved in and their families."
You must be the change you want to see in the world - Mahamta Gandi
It's exciting to read, hear about and be a part of making change happen. We are truly together helping to transform Africa - one life at a time. This is exciting and life-transforming. By helping to provide these funds and training we are being the change we want to see.
Want to help be a part of making more change happen? A great opportunity is just a few days away. Starting at 12:00 am EDT on March 14th, GlobalGiving will be matching all donations made through www.globalgiving.org (including this project) up to $1,000 per donor at 30%.
This means that your donation of $100 will be supersized and become $130! $1000 will become $1300. This is an amazing opportunity to make your donations go even further and help us do even more. We would so very much appreciate your support - that will provide many more loans to beneficiaries like Seray. Thanks for your support.
Want an email reminder: simply send us an email at info - at - developafrica.org and we will send you a reminder on March 14th.
Thank you change maker!
Links:
Dec 7, 2011
Microfinance Funds Enhance Business and Improve The Standard of Living of Isata's Family.
By Sylvester Renner | Project Leader
![Isata - food ready for waiting customer]()
Isata - food ready for waiting customer
It is with great joy that I share the story of Isata. Thanks to your support, we together have helped to enhance her business and improve the standard of living of her family.
Madam Isata is an illiterate petty trader, who has never had the opportunity to attend any educational institution. She lives in Bo, Sierra Leone. She has nine children (3 boys and 6 girls). Isata struggles to educate her children. The eldest child is preparing for his public (WASCE) examination. The school costs including books, school fees, uniforms are burdensome on Isata. The father of her children is alive, but he is an additional burden to the nine children as his salary as low rank police officer is a pittance for the maintenance of the family.
Isata is engaged in cookery sale (cooked rice, foofoo, boiled cassava and beans) as an income generating activity to take care of her family and educate her nine children. Isata makes a profit of Le 50,000 (about $12) per day. She carries out her business in a rented shack for which she pays about $4 per month. Isata has been in this business for five years. Originally, each day due to lack of money, Isata would buy the food items in small quantities (rice by cup, palm oil by pint, fish by measure, etc.) to sustain her business. The low profit margin put the sustainability of her business at a high risk. Isata therefore needed micro finance to expand her business, by buying rice by bag, palm oil by bata (five – gallon container, fish by basket, etc.) to maximize profit, which she could plough back into the business for sustainability as well as being able to take good care of her children.
Thanks to the funds donated, Isata received an interest-free loan and has been able to buy her cooking supplies at wholesale - which has immediately increased her bottom line. She is very grateful to Develop Africa and all GlobalGiving donors for supporting her with micro finance to enhance her business and improve the standard of living of her family. Thanks so much for your support!
Make a Donation Today - Great Way to Help Change Lives: Giving towards microfinance is a great way to help small businesses grow and become independent. Study after study confirms this and we have together been able to strengthen many businesses. Your donations are making a definite difference and positive impact to the lives of women and families. By donating to this project - you are doing the greatest good and bringing permanent change! Its heart-warming to have this opportunity to help influence destinies and we welcome your on-going support. Together we can empower many more women / small businesses.
![Isata at her table]()
Isata at her table
Sep 6, 2011
Teamwork Helps Microfinance Group Forge Ahead - We are a Part of This Team
By Sylvester Renner | Project Coordinator
![Teamwork - group members preparing water for sale]()
Teamwork - group members preparing water for sale
Warm greetings:
We would like to share with you 2 specific points that are of note - as follows:
1. We are continually encouraged by the steady progress that our microfinance beneficiaries are making. Loan repayments are on schedule for the majority and the funds have introduced income stability and progress.
2. The Bo women's group of recipients are working together as a team - more than we have ever experienced before. Typically, the beneficiaries meet periodically to discuss progress - but the Bo group is a lot more cohesive. They existed as a group before funding and have continued to be self-supporting - chipping in and helping each other through cycles of labor need.
During my visit in May, I observed them at work together, as they helped fill packets of water. They also spend time regularly discussing progress, issues and challenges. This approach has helped them succeed in the midst of a "tight" economy. This is a key improvement opportunity that we are sharing with other beneficiaries. Team work does make a difference. As the saying goes - this group, united is standing strong.
Worldwide, we are all a part of this team as we have significantly contributed through our donations to their success. Their success is our success and we celebrate and thank you for your on-going support.