Many critics argue that donating a $50 to a micro credit organization can not in reall terms make any difference in the life of an ordinary person in Zambia.
Savings Loans Association Home Based Care www.sloansassociation.org is a loca organization that proves right that a small donation of $50 can in deed make a huge difference.
Josephine Nkandu is one such lady who after the lose of her job as cleaner lost hope of finding another job in Zambia's crippling economy affected by the global financial crisis. For many months, Josephine struggled to look after her four children pus husband who was out of employment due to midical conditions.This was a nightmare for Josephine!
Savings Loans Association gave Josephine a small loan of $50 (250,000 Kwachas) to start a small business selling daily basic needs such as sugar, oil and bread. On an ordinary day, she made an average profit of $8. Josephine recieved financial and business basic training from Savings Loans Micro enterprise training programs and she was able to manage her finances diligently. She has now expanded her business with a capital of $350 and hopes to do even better in the near future.
This is one typical example of how "small loans" can make a difference in the lives of people who would do so well if given a chance and training to manage their income.
For more information about Josephine and her story you can contact US
Savings Loans Association
www.sloansassociation.org
Saturday, February 14, 2009
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