Provide Micro-Loans to Entrepreneurs in Africa

by Action Change (Formerly GVI Trust)
Provide Micro-Loans to Entrepreneurs in Africa
Provide Micro-Loans to Entrepreneurs in Africa
Provide Micro-Loans to Entrepreneurs in Africa
Provide Micro-Loans to Entrepreneurs in Africa
Provide Micro-Loans to Entrepreneurs in Africa
Provide Micro-Loans to Entrepreneurs in Africa
Provide Micro-Loans to Entrepreneurs in Africa
Provide Micro-Loans to Entrepreneurs in Africa
Provide Micro-Loans to Entrepreneurs in Africa
Provide Micro-Loans to Entrepreneurs in Africa

Summary

With high unemployment rates and low foreign trade, people in Africa are heavily reliant on micro-businesses. Thus, without credit becomes impossible to get a loan to get your business off the ground. Action Change partners with local NGOs and entrepreneurs to provide them with the training, skills and funding they need to get their small business off the ground. Instead of a high-interest rate, the entrepreneur gets to do a donation to a future entrepreneur!

$25,000
total goal
$24,698
remaining
4
donors
0
monthly donors
1
year

Challenge

High unemployment rates and sanctions for foreign manufacturing means that there are limited opportunities to earn an income. Without financial security, getting access to the initial loans to start a business is difficult, if not possible. With only a small number of people having credit to start an enterprise, the opportunities to be self-sufficient makes access to break the cycle of poverty unequal and income inequality continues to rise.

Solution

Together with local NGOs and institutions, we identify entrepreneurs with a solid and sustainable business idea. After a selection process, each entrepreneur will get the capacity building required to be given the best opportunity for success. Once trained, they will be assisted with the initial products to be able to earn the money to continue the operations independently. Instead of a high-interest rate, the entrepreneur gets to do a donation to a future entrepreneur!

Long-Term Impact

By giving people access to starting capital, communities will quickly become self-sufficient. This will not only ensure that they will not on foreign support but further have the funds to put their children through school, get access to healthcare services and participate in the greater economy. Aside from providing an income to the entrepreneur, this also creates employment opportunity for others as the businesses grow, helping to develop the communities in which they work.

Resources

https:/​/​www.actionchange.org/​
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Organization Information

Action Change (Formerly GVI Trust)

Location: London - United Kingdom
Website:
Facebook: Facebook Page
Project Leader:
Tyrone Bennett
London, London United Kingdom
$302 raised of $25,000 goal
 
4 donations
$24,698 to go
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