We provide loans and training to poor and vulnerable women in remote areas of rural Togo where the vast majority of people don’t have access to financial services.
Here’s how it works:
Creating local markets
These businesses can be anything from producing and selling food, drinks and clothing to cutting people’s hair. When the money is paid back it can be recycled and loaned to another person to start their own business. We receive 10% interest on our loans to cover the costs of reaching these remote communities.
Skills and training
Enhancing the knowledge and business skills of these women is just as important as the loan itself. Our partners SEVIE have created a bespoke training programme suited to the learning needs of the women so they acquire lifelong knowledge about earning profit, saving and reinvesting into their business.
The women are put into groups and together they share a collective responsibility for meeting loan repayments. This way if one woman can’t make a repayment one week, the group will pay it back on time. The financial sustainability of the programme is achieved by the high 99% repayment rate on loans.
We have helped over 350 people in seven rural villages set up their own businesses. 99% of the loans have been paid back and reinvested into new businesses.
Your donation can really make a difference
Every day, the majority of people living in the countryside in Togo suffer from malnutrition as a result of extreme poverty. Inadequate healthcare, poor educational facilities and child labour compound the difficulties for many rural villagers.
What’s more, a husband has legal powers to restrict his wife’s freedom to work and to control her earnings, reducing the development of human capital and long-term poverty reduction. Although many of these women want to contribute to the family income, they do not have the resources, support or training to join the labor market.