Empower 160 young entrepreneurs in Kenya

by MKONO MICROFINANCE
Empower 160 young entrepreneurs in Kenya
Empower 160 young entrepreneurs in Kenya
Empower 160 young entrepreneurs in Kenya
Empower 160 young entrepreneurs in Kenya
Empower 160 young entrepreneurs in Kenya
Empower 160 young entrepreneurs in Kenya
Empower 160 young entrepreneurs in Kenya
Empower 160 young entrepreneurs in Kenya
Empower 160 young entrepreneurs in Kenya
Empower 160 young entrepreneurs in Kenya
Empower 160 young entrepreneurs in Kenya
Empower 160 young entrepreneurs in Kenya
Empower 160 young entrepreneurs in Kenya
Empower 160 young entrepreneurs in Kenya
Empower 160 young entrepreneurs in Kenya
Empower 160 young entrepreneurs in Kenya

Summary

UPDATE: We've passed our $10K milestone! Thank you for your support. We are continuing to raise funds as we partner with more incubators in Kenya and beyond. Every $500 raised provides another loan to an entrepreneur that can be redeployed ~10 times. With your generous donations, we can provide affordable loans and mentorship to help accelerate the growth of our entrepreneurs' businesses.

$12,500
total goal
$228
remaining
113
donors
6
monthly donors
12
days

Challenge

Owners of small and medium enterprises (SMEs) in Kenya are faced with limited financing options that are necessary for them to grow their businesses. Specifically, traditional micro-lending institutions typically target individuals and offer high-interest loans while commercial banks are hesitant to issue loans without collateral. In short, SME owners are caught in the middle: too large for micro-lending platforms, and too small for commercial banks.

Solution

Mkono takes a holistic approach to empowering entrepreneurs by combining affordable loans with mentorship from young professionals around the globe. Entrepreneurs are trained in topics such as finance, marketing, and business development, which helps them to sustainably grow their business. Each dollar donated is equivalent to ~$10 in loans - as entrepreneurs repay Mkono, we extend new loans to other high-potential business owners to create a multiplier effect.

Long-Term Impact

These loans will help entrepreneurs sustainably grow their businesses, create jobs, and generate wealth for their communities to become self-sufficient. By supporting local entrepreneurs, you help communities reduce their dependency on foreign support. Your donation to the business loans help families to put their children through school and support their livelihoods. Mkono means hand in Swahili. Let's give a hand to young entrepreneurs in low-income countries. Together.

Additional Documentation

This project has provided additional documentation in a PDF file (projdoc.pdf).

Resources

Organization Information

MKONO MICROFINANCE

Location: Montreal, QC - Canada
Website:
Facebook: Facebook Page
Project Leader:
Ahzam Ahmed
Montreal, QC Canada

Learn more about GlobalGiving

Teenage Science Students
Vetting +
Due Diligence

Snorkeler
Our
Impact

Woman Holding a Gift Card
Give
Gift Cards

Young Girl with a Bicycle
GlobalGiving
Guarantee

Sign up for the GlobalGiving Newsletter

WARNING: Javascript is currently disabled or is not available in your browser. GlobalGiving makes extensive use of Javascript and will not function properly with Javascript disabled. Please enable Javascript and refresh this page.