1000 Microloan for Rural Women in Zambia
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| Organization | Kukula Solar |
|---|---|
| Region | Zambia |
| Website | Website |
| N/A | |
| ProjectLeader | Francis Mbewe |
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This projects funds a self-sustaining microfinance initiative issuing collateral-free, interest-bearing loans, for as little as $50, to poor women in rural Zambia to assist them in starting businesses, building assets, and gaining business skills so that they can generate income on a long-term basis, permanently improving their household living standards, and achieving financial independence for themselves and their families.
Challenge
An estimated five million impoverished women are living in villages where they have no access to financial services. Over 90 percent of people in these villages are self-employed. Without access to financial services, these rural women have no opportunity to start a business to help their families. They and their families are mired in an unbroken cycle of economic isolation that condemns them to a subsistence existence.
Long-Term Impact
Empowering women living in desperate poverty in rural Zambia promotes in-country development from the bottom up. Women become involved in grassroots movements and advocate for far-reaching social and economic changes in their own country. The borrowers' priorities for the use of their profits are better nutrition, healthcare, and paying school fees for their children. Kukula Solar provides outreach in all of these areas by empowering women with options to provide better care for their families.
References
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