Micro Loans to rebuild lives in Eastern D.R. Congo

Dear Supporters,

We are delighted to inform you that 2014 is off to a great start with Pro-Microfinance. In July 2013, Pro-Microfinance expanded its activities to Kinshasa, a city with a population of about 12 million people. With less than 5% of the population having access to financial services and an over 80 % rate of unemployment.  PMI has launched a “Rent to Own” program, where small entrepreneurs are given the opportunity to rent equipment that they own once they have paid the cost of the equipment. 

With PMI’s “Rent to Own” program, motorbike taxi drivers, for example, deposit payments on their account at PMI, until the whole cost of a motorbike rented is paid off.  The program, in partnership with local businesses, helps  motorbike taxi drivers to become owners and improve their income, rather than driving for someone else who poorly pays them. With an average income of $20 a day, $15 usually goes to a private motorbike owner, and only $5 to the driver. If the driver happens to make less than $20, he will get less than $5 that day, as he cannot compromise the $15 for the owner of the motorbike. 

PMI’s “Rent to Own” program helps entrepreneurs find a pathway to become the owner of the motorbike -and other business assets- at the end of the process.  This program triples and quadruples their income, and helps them to better be able to support their families. We thank you for you support to PMI in previous years and in the years to come. Programs like these are what make our work meaningful, and we promise to keep you updated along the way!