At MicroLoan Foundation, we’re on a mission to fight poverty by empowering women in some of the poorest communities in Malawi, Zambia, and Zimbabwe. We believe in the power of entrepreneurship and education to transform lives. Instead of giving handouts, we provide business loans and training, giving women the opportunity to start and grow their own businesses. This lifts them and their families out of poverty and turns them into thriving entrepreneurs managing grocery stores, hair salons, clothing shops, and agricultural enterprises.
With your help, we have supported 450,000 female entrepreneurs to date. Here are just a few of their inspiring stories:
When Monica joined a MicroLoan group in May 2017, she was already running a nursery but wanted to make it more welcoming. Using her loan, she bought educational toys and teaching aids and painted the building and playground. This attracted more children and allowed her to charge a slightly higher fee.
Monica also purchased fabrics for uniforms and started sewing and selling them to parents, creating an additional income stream. She values the support she received from MicroLoan Foundation, saying, “MicroLoan is good. Whenever you make a plan, you need money to support that plan and hopefully execute an even bigger plan.”
Anna, a mother of three from Zambia, has transformed her life since taking out her first loan with MicroLoan Foundation. Initially using the loan to grow her fish-selling business, she reinvested her profits into new ventures. Six years on from her first loan,
Anna owns two successful clothing boutiques.
Her boutiques bring in a healthy 4000 KWA (A$223) per day, and she sets aside 1000 KWA (A$56) each day to ensure her business remains sustainable. Anna credits her success to greeting customers with a smile and opening her shops early. With her newfound financial stability, she can send her children to school and hopes to inspire other women to start their own businesses.
Maretha (pictured with her daughter) is a remarkable entrepreneur from Malawi who runs a grocery store, a restaurant, and a bar. Her restaurant, serving dishes like rice, seama, beans, fish, and mpiru, is her main source of income. Owning three businesses ensures she doesn’t have to rely on just one income stream.
Maretha’s journey began in 2015 with her first loan from MicroLoan Foundation. Today, she makes a weekly profit of 50,000 MKW (A$43), which she uses for rent and clothing for her family. A single mother of five, Maretha also cares for her cousin’s four children, who were orphaned due to HIV. Despite these hardships, Maretha’s determination and support from MicroLoan Foundation have transformed her life. “If it wasn’t for MicroLoan, we would be starving,” she says.
Maretha dreams of buying her own land to build a home for her family. Her journey is a testament to the power of microloans and the impact they can have on women’s lives in sub-Saharan Africa.
These stories demonstrate the incredible success women can achieve with access to microloans and training. Will you help more women on their journey from living in extreme poverty to becoming successful business owners?
Poverty remains a harsh reality for far too many families, and the need for our services continues to grow.
Your donation will make a significant difference. It will help a woman on her journey out of poverty, providing her with the capital she needs to start her own business, the training she needs to succeed and the support she needs to build a better future.
Join us in giving hope and changing lives.
Published on: 30/05/2024
