We thought you might like a quick update on where our funds – and your donations are going:
In January 2012 Mulanje branch had 1,397 active groups, with an average of 15 women per group. This is slightly higher than the budgeted figure of 1,345 groups, suggesting that demand is very high for our services in the Mulanje area. 6,945 individual loans were disbursed in January.
Farming loans known as ‘Tilime’ are now being disbursed in Mulanje, as are Chiyambi and Makwelero loans products. The Makwelero or ‘ladder’ loan, is to encourage higher loans to the best beneficiaries, with three weekly repayments and the Chiyambi ‘beginner’ loan, to encourage poorer people into the programme.