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Home > Find a Project > Sierra Leone > Microfinance > Sponsor Microfinance: Empower Small Businesses

Sponsor Microfinance: Empower Small Businesses

Summary

Project will provide training and financial booster-shot to small businesses, enabling them to start, expand and become self-sufficient. This assistance will help them to break the cycle of poverty. The beneficiaries receive education / training in business management that helps them succeed in their small businesses. Individuals and businesses become self-sufficient and this boosts economic development. Priority is given to women. progress reportread updates from the field


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Received £3,841 from 54 donations from people around the world like:

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More Information About this Project

Project Needs and Beneficiaries

According to the United Nations 2007-2008 Human Development report, Sierra Leone ranks as # 177 (last place) in Human Development Index. The UN estimates unemployment to be about 65 percent in Sierra Leone. Tens of thousands of youths and adults struggle to find a meaningful existence and are living below the poverty line. They are exposed to the temptations of resorting to a lifestyle of vices and destructive occupations. They desperately need help and a viable path to self-sufficiency.

Activities

Selected participants will be provided with foundational training in business management / entrepreneurship and business capital. This capital will enable them to start or expand their businesses, become self-reliant and also employ others.

Funding Information

Total Funding Received to Date: £3,841
Remaining Goal to be Funded: £4,410
Total Funding Goal: £8,251

Additional Documentation

This project has provided additional documentation in a Microsoft Excel file (projdoc.xls).

Resources

Why this Project is Important

Potential Long Term Impact

Project will enable individuals and small businesses to move from making barely enough to meet their basic needs (living from hand to mouth) to a point where they will expand providing employment and contributing to national development.

Project Message

This project changes lives by providing a practical, sustainable path out of poverty. What better way to empower people by giving them a "hand up" and not simply a "hand out".
- Joanne Tucker, Project Coordinator

Who is Running This Project

Contact

Sylvester Renner,
Founder
1906 Knob Creek Road
Suite 3
Johnson City, Tennessee 37604
United States
4232820006
Email:

Project Sponsor

Sylvester Renner

Organisation

Develop Africa, Inc. Logo Develop Africa, Inc.
1906 Knob Creek Road
Suite 3
Johnson City, Tennessee 37604
United States
423-282-0006
http://www.developafrica.org

Learn more about Develop Africa, Inc. and the project team.


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Where this Project is Located

Country

This project is located in Sierra Leone and can also be found under Microfinance.

For more information about Sierra Leone, read the Human Development Report on Sierra Leone or the Wikipedia entry for Sierra Leone.

When this Project was Updated

Last Updated

This project was last updated on December 07, 2011.

Date Added to GlobalGiving

This project was added to the GlobalGiving project catalog on November 21, 2008.

Latest Update from the Field

Microfinance Funds Enhance Business and Improve The Standard of Living of Isata's Family.

By Sylvester Renner - Project Leader, December 07, 2011 06:18 PM

Isata - food ready for waiting customer
Isata - food ready for waiting customer

It is with great joy that I share the story of Isata.  Thanks to your support, we together have helped to enhance her business and improve the standard of living of her family.

Madam Isata is an illiterate petty trader, who has never had the opportunity to attend any educational institution. She lives in Bo, Sierra Leone.  She has nine children (3 boys and 6 girls). Isata struggles to educate her children. The eldest child is preparing for his public (WASCE) examination. The school costs including books, school fees, uniforms are burdensome on Isata. The father of her children is alive, but he is an additional burden to the nine children as his salary as low rank police officer is a pittance for the maintenance of the family.

Isata is engaged in cookery sale (cooked rice, foofoo, boiled cassava and beans) as an income generating activity to take care of her family and educate her nine children. Isata makes a profit of Le 50,000 (about $12) per day.  She carries out her business in a rented shack for which she pays about $4 per month. Isata has been in this business for five years. Originally, each day due to lack of money, Isata would buy the food items in small quantities (rice by cup, palm oil by pint, fish by measure, etc.) to sustain her business. The low profit margin put the sustainability of her business at a high risk.  Isata therefore needed micro finance to expand her business,  by buying rice by bag, palm oil by bata (five – gallon container, fish by basket, etc.) to maximize profit, which she could plough back into the business for sustainability as well as being  able to take good care of her children.   

Thanks to the funds donated, Isata received an interest-free loan and has been able to buy her cooking supplies at wholesale - which has immediately increased her bottom line.  She is very grateful to Develop Africa and all GlobalGiving donors for supporting her with micro finance to enhance her business and improve the standard of living of her family.  Thanks so much for your support!

Make a Donation Today -  Great Way to Help Change Lives:  Giving towards microfinance is a great way to help small businesses grow and become independent.  Study after study confirms this and we have together been able to strengthen many businesses.  Your donations are making a definite difference and positive impact to the lives of women and families.  By donating to this project - you are doing the greatest good and bringing permanent change!  Its heart-warming to have this opportunity to help influence destinies and we welcome your on-going support.   Together we can empower many more women / small businesses.

Isata at her table
Isata at her table

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