Sponsor Microfinance: Empower Small Businesses

by Develop Africa, Inc. Vetted since 2008 Top Ranked Effective Nonprofit Project of the Month Site Visit Verified

Summary

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

$20,000
total goal
$3,723
remaining
163
donors
2
monthly donors
9
years

Challenge

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 need opportunity and a viable path to self-sufficiency. According to World Bank, three out of four Sub Saharan Africans are self-employed. Unfortunately, there simply aren't enough jobs available for everyone.

Solution

This project provides foundational training in entrepreneurship and business capital to participants. This helps them to start or expand their businesses, become self-reliant and also employ others. Young people can venture into several initiatives such as tailoring, retail, catering, gardening, food cafe's, soap making etc. Income from these businesses ranges from supplementary income to instances where this is the sole income for families.

Long-Term Impact

Individuals and small businesses are able to move from living in deprivation to barely making enough to meeting their basic needs (living from hand to mouth) to a point where they will become self-sufficient, provide employment, and contribute to national development. As more people are able to create employment for themselves and their family, there will be a drop in the overall poverty. This will result in a stronger and more self-sufficient and stable society.

Additional Documentation

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

Resources

http:/​/​www.developafrica.org/​sponsor_microfinance_freetown
SIERRA LEONE: "An idle mind is a devil's workshop"
UN Human Development Report - Sierra Leone
UN Country Information - Sierra Leone
Wikipedia - Microfinance

Organization Information

Develop Africa, Inc.

Location: Johnson City, Tennessee - USA
Website: http:/​/​www.developafrica.org
Facebook: Facebook Page
Twitter: @developafrica
Project Leader:
Sylvester Renner
President, Develop Africa
Johnson City, Tennessee United States
$16,277 raised of $20,000 goal
 
201 donations
$3,723 to go
Donate Now Add Project to Favorites

Help raise money for this important cause by creating a personalized fundraising page for this project.

Start a Fundraiser

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.