Welcome to the November edition of our newsletter – we hope you have had a great start to your spring season!
Whilst we have been enjoying the warmer weather, the situation in Malawi is reaching a financial crisis point in some areas. The 50% devaluation of the Kwacha has meant a great loss to our operational income reducing our loan book by 50% and it is for this reason MicroLoan Foundation UK has had to close some of the northern region branches.
The Australian supported branch in Mulanje however, has been performing particularly well and it gives me great pleasure to provide to you our latest quarterly report.
I really enjoy reading through these reports, understanding the types of businesses that these entrepreneurial women create, and even more so that we have achieved 100% repayment rate over the last quarter.
As you all know, our loan book is reaching sustainability with only another
$10, 000 to raise. If you or anyone you know is interested in investing in these inspiring businesses I would love to chat to you further.
Enjoy reading how you are making a difference and as always many thanks for your support.
— LATEST NEWS & EVENTS —
Case Study: The Tayamba Group
The Tayamba (meaning “We have begun) group formed in 2011 after organizing themselves and searching for a microcredit organization in their area. After being connected with their loan officer, he helped them officially organize themselves into the 22-member group.
Despite the competition from other organizations, they chose MicroLoan Foundation because “their policies are good”, including a fortnight repayment periods that gives them the opportunity to repay in smaller amounts, and that they are quick in processing the loans, where some other organizations may take a month or so before they get the loan.