Sponsor Microfinance: Empower Small Businesses

 
£7,765
£6,340
Raised
Remaining

Summary

This project empowers individuals in Africa who are interested in developing their small businesses. It helps them break the cycle of poverty and boost economic development through 2 key areas: business management training and financial assistance. This support helps them effectively start and grow their small businesses. Priority is given to youths and women. Small businesses are the life-blood of African economies and this is a great way to bring change and boost economies.

What is the issue, problem, or challenge?

Sierra Leone's population of 6.5 million is composed of 45% youth. But there is widespread unemployment among the youth, with estimates as high as 70% unemployed and or underemployed. 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.

How will this project solve this problem?

This project provides foundational training in business management and entrepreneurship, and business capital to participants. This helps them to start or expand their businesses, become self-reliant and also employ others.

Potential Long Term Impact

The project will enable individuals and small businesses to move from barely making enough to meet their basic needs (living from hand to mouth) to a point where they will expand, provide employment, and contribute to national development.

Funding Information

Total Funding Received to Date: £7,765
Remaining Goal to be Funded: £6,340
Total Funding Goal: £14,105

Additional Documentation

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

Resources

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Organization

Develop Africa, Inc.

Johnson City, Tennessee, United States
http://www.developafrica.org

Project Leader

Sylvester Renner

President, Develop Africa
Johnson City, Tennessee United States

Where is this project located?

Map of Sponsor Microfinance: Empower Small Businesses