98 million Nigerians still live in extreme poverty. 24m able-bodied adults are jobless. Women entrepreneurs are playing a major role in the fight against poverty. ICAfrica is appealing to men & women of goodwill in this 30-day Challenge, April 01 - 30, 2011, to donate to a $15,000 fund for empowering 300 women entrepreneurs with micro-loans and help bring 1000 people above the poverty line. This project offers a template for a comprehensive, rapid low cost poverty reduction program for Africa.
What is the issue, problem, or challenge?
Extreme poverty continues to destroy lives of children and adults in rural families throughout Nigeria but there is hope through the over 12 million super-micro enterprising women who only require $50 in micro-loan to grow their ventures & bring their families above poverty line. Many already operate with tiny capitals, retailing fruits/vegetables; cooking/selling food; sewing; farming; etc, and take home profits of $3 a day to feed 4 mouths. ICAfrica loan will raise their profits to $5 a day.
How will this project solve this problem?
Micro loans to these 300 women would boost their daily incomes and bring all their families (about 1000 children & adults), above the poverty line. The project will show the way forward on how to reach and activate the wealth generation capacities of millions of other women entrepreneurs in Nigeria and Africa. It will be critical in fighting poverty. The women also learn very valuable business and social skills which allows them to participate fully in planning and organizing their communities.
Potential Long Term Impact
Project will allow these impoverished women to immediately begin to earn incomes that put their families and members of their communities, above the poverty line. More women and men will take the cue from those participating and join to use their talents to earn income. The revolving loan will circulate yearly and continue to reach more women, benefiting even more people. In 10 year, $15,000 raised would revolved to allow 10,000 people to feed well, have better health and live happier lives.
Total Funding Received to Date: $275
This project is now in implementation and no longer available for funding. Received funds will be used to accomplish concrete objectives as indicated in the project's "Activities" section. Updates will be posted under the "Project Report" tab as they become available.
Donors' contributions and pledges to this project totaled $275 . The original project funding goal was $15,000.