MicroLoan Foundation’s Post

Since 2008, MicroLoan Foundation Zambia has been transforming lives by providing small business loans, savings services, and entrepreneurial training to underserved rural communities. We are currently supporting over 45,000 female entrepreneurs across Zambia, via our 16 branches and 12 satellite areas. With 77% of Zambians living below the $2.50 a day poverty line, our mission is to scale up and reach more communities. In 2017, we introduced a pilot programme in our Chipata and Petauke branches, offering mobile money services. This technology has been rolled out to all branches, with 100% of loan disbursements and 60-70% of repayments now processed electronically. By reducing cash transactions, operations are more efficient and clients have access to a safer, more convenient way to manage their loans and businesses. MicroLoan Zambia is at the forefront of digital financial services and innovation, with new digital systems and savings products under development to reach more households. To find out more about our operations in Zambia, visit: https://zurl.co/7uYt #EmpowerWomen #FinancialInclusion #PovertyReduction #Zambia #SustainableAgriculture #MobileMoney #Microfinance #WomenInBusiness

Since 2008, MicroLoan Foundation Zambia has been transforming lives by providing small business loans, savings services, and entrepreneurial training to underserved rural communities. We are currently supporting over 45,000 female entrepreneurs across Zambia, via our 16 branches and 12 satellite areas. With 77% of Zambians living below the $2.50 a day poverty line, our mission is to scale up and reach more communities. In 2017, we introduced a pilot program in our Chipata and Petauke branches, offering mobile money services. This technology has been rolled out to all branches, with 100% of loan disbursements and 60-70% of repayments now processed electronically. By reducing cash transactions, operations are more efficient and clients have access to a safer, more convenient way to manage their loans and businesses. MicroLoan Zambia is at the forefront of digital financial services and innovation, with new digital systems and savings products under development to reach more households. To find out more about our operations in Zambia, visit: https://zurl.co/kAst #EmpowerWomen #FinancialInclusion #PovertyReduction #Zambia #SustainableAgriculture #MobileMoney #Microfinance #WomenInBusiness

Despite Kenya being one of the fastest growing economies in Sub-Sahara Africa, it's citizens rely heavily on loans to meet daily needs due to poverty, corruption, and healthcare challenges. Mobile loans have become a popular to Kenyans in general due to their easy accessibility, this has driven people into more debts due to the high interest rates that are charged on a monthly basis. The removal of loan interest caping has also made bank loans very expensive and thus inaccessible to the common mwananchi. Below are some smart Financial Practices to reduce the burden of debt. 1️⃣ Use Debt Wisely: Avoid mobile loans unless it’s an emergency, and have a clear plan if you must borrow. 2️⃣ Explore Alternatives: Look into microfinance, saccos, or lower-cost savings programs (e.g., Hustler Fund). 3️⃣ Live Within Your Means: Track expenses and reduce unnecessary spending. 4️⃣ Save & Prepare: Build an emergency fund and develop a savings habit, even in small amounts. 5️⃣ Get Insurance: Affordable health insurance like SHA can reduce medical-related financial stress. 6️⃣ Continuous Learning: Financial independence requires learning how to manage money effectively. Kenyans can achieve financial freedom if we borrow responsibly, plan ahead, and make informed decisions. Let's learn, grow, and build sustainable financial habits—together!! #FinancialLiteracy #DebtManagement #FinancialIndependence #Kenya

From Small Beginnings to Big Dreams through Micro-financing🔑 Did you know microfinance has the potential to transform the lives of small business owners and individuals in Zimbabwe by providing access to inclusive financial services? By offering small loans, savings accounts, and other financial products, microfinance can help these individuals overcome financial barriers and achieve their goals. For small business owners, microfinance can provide the necessary capital to grow their operations, invest in new equipment, and expand their markets. For individuals, it can provide a safety net during times of financial crisis, allowing them to weather economic storms and build resilience. Financial inclusion is critical for any economy that wants to achieve sustainable growth. By recognizing the value of microfinance in equipping small businesses and individuals in Zimbabwe, people can work towards a more inclusive financial system that drives economic growth, reduces poverty, and improve living standards. #Microfinance #FinancialInclusion #Zimbabwe #NBS #Bank #Build #goBeyond Mildret Kujinga ,PhD Student

DBN to ease collateral requirements, urges loan holders to service debts The Development Bank of Namibia (DBN) Chief Executive Officer, John Steytler, has called on loan recipients to prioritise servicing their debts to ensure continued funding for future borrowers. In a recent engagement , Steytler acknowledged that one of the pressing challenges facing young entrepreneurs was the lack of traditional collateral. “Many young people don’t have assets to put up as security for loans. But what if their skills could serve as collateral?” he asked. Meanwhile, he revealed DBN's plans to allocate more funds towards skills-based loans and ease collateral requirements to empower more young Namibians to access financing. However, Steytler was quick to highlight the importance of responsible borrowing, citing past experiences where loan repayments fell short. https://lnkd.in/d-FcXQ_i #namibia #youth #entrepreneurs #loans #funding #collateral

Data Suggests Kenya's Economic Challenges Force Digital Loans Towards Consumption According to Tala, one of Kenya's leading digital credit providers, there has been a 15% decline in digital loans extended to their client businesses over the last quarter. This shift can be potentially linked to lenders increasingly focusing on consumption credit, with borrowers now seeking digital loans for basic needs such as food, school fees, and rent. Tala's analysis was based on a survey of over 1,000 Kenyans conducted between January and March 2024. This data may suggest that Kenyan businesses have slowed down in seeking digital loans. However, it's important to note that there are digital lenders tailored specifically for businesses, which could be an alternative avenue for entrepreneurs. The Changing Landscape of Digital Loans: Tala highlights a concerning trend of Kenyans borrowing to cover daily essentials. There's been a worrying increase in borrowers directing their loans towards food and groceries, with 76% of utility bill loans now being spent on sustenance, up from 71% the previous year. Conversely, loans intended for electricity and water bills have decreased to 68%, and those for cooking gas and kerosene have also seen a decline, both by three percentage points. The economic policies introduced during the period under review, particularly new tax measures targeting businesses, have prompted Kenyans to exercise caution, potentially leading to a noticeable reduction in new business ventures and side hustles. #DigitalLending #KenyanEconomy #FinancialResilience #EntrepreneurialSpirit #EconomicChallenges #ConsumptionCredit Photo: Tala's 2024 MoneyMarch report, Nairobi Credits: @fidel_Ke | X

What is the gap in capital for borrowers in Kenya? It is worth noting that there needs to be more access to credit for medium and small micro enterprises (MSMEs), entrepreneurs, and individuals in Kenya, which presents an opportunity for micro-lending institutions to provide much-needed capital. According to a 2020 report by the Central Bank of Kenya, only 20% of MSMEs have access to formal credit, while the remaining 80% rely on informal sources such as family and friends or savings. This credit access gap is partly due to the perceived risk associated with lending to MSMEs, which can be seen as less creditworthy than larger, more established businesses. However, microfinance institutions like Positiviti Lending specialize in providing credit to underserved and underbanked marginalized communities, including MSMEs. By using innovative micro-lending models and leveraging technology to reduce operational costs, micro-lending institutions can provide affordable credit to MSMEs and other borrowers who might not otherwise have access to formal credit channels. Overall, the demand for capital in Kenya's micro-lending industry is likely to remain strong as more and more MSMEs seek funding to start or grow their businesses. #microlending #creditaccess #MSMEs #entrepreneurs #Kenya #PositivitiLending #lending #creditreports #Microloans #InvestmentOpportunity #FinancialAdvice #investment #FairInterestRates #growth

Housing Finance Bank, Uganda and Vision Group signed an MOU last week to commence the financial literacy program focused on creating awareness and uptake of the diverse affordable financial and mortgage solutions. As part of the Bank’s financial inclusion strategy, this initiative shall empower Ugandans with information that will ease their decision making when it comes to home ownership, and viable financing options.  Benjamin Franklin said, "An investment in knowledge pays the best interest." I believe that a financial literacy is a bedrock to our socio-economic development, as Ugandans. As a critical stakeholder, the media’s role in disseminating this vital information goes without saying. Don Wanyama and the Vision Group team share the vision as another government owned institution, to transform the live of Ugandans. The partnership shall see to a better-informed citizen that is conversant with the diverse affordable financing solutions available because of advocacy, avant-garde journalism and authentic story telling,. #partnership #collaboration

What is the gap in capital for borrowers in Kenya? It is worth noting that there needs to be more access to credit for medium and small micro enterprises (MSMEs), entrepreneurs, and individuals in Kenya, which presents an opportunity for micro-lending institutions to provide much-needed capital. According to a 2020 report by the Central Bank of Kenya, only 20% of MSMEs have access to formal credit, while the remaining 80% rely on informal sources such as family and friends or savings. This credit access gap is partly due to the perceived risk associated with lending to MSMEs, which can be seen as less creditworthy than larger, more established businesses. However, microfinance institutions like Positiviti Lending specialize in providing credit to underserved and underbanked marginalized communities, including MSMEs. By using innovative micro-lending models and leveraging technology to reduce operational costs, micro-lending institutions can provide affordable credit to MSMEs and other borrowers who might not otherwise have access to formal credit channels. Overall, the demand for capital in Kenya's micro-lending industry is likely to remain strong as more and more MSMEs seek funding to start or grow their businesses. #microlending #creditaccess #MSMEs #entrepreneurs #Kenya #PositivitiLending #lending #creditreports #Microloans #InvestmentOpportunity #FinancialAdvice #investment #FairInterestRates #growth

What is the gap in capital for borrowers in Kenya? It is worth noting that there needs to be more access to credit for medium and small micro enterprises (MSMEs), entrepreneurs, and individuals in Kenya, which presents an opportunity for micro-lending institutions to provide much-needed capital. According to a 2020 report by the Central Bank of Kenya, only 20% of MSMEs have access to formal credit, while the remaining 80% rely on informal sources such as family and friends or savings. This credit access gap is partly due to the perceived risk associated with lending to MSMEs, which can be seen as less creditworthy than larger, more established businesses. However, microfinance institutions like Positiviti Lending specialize in providing credit to underserved and underbanked marginalized communities, including MSMEs. By using innovative micro-lending models and leveraging technology to reduce operational costs, micro-lending institutions can provide affordable credit to MSMEs and other borrowers who might not otherwise have access to formal credit channels. Overall, the demand for capital in Kenya's micro-lending industry is likely to remain strong as more and more MSMEs seek funding to start or grow their businesses. #microlending #creditaccess #MSMEs #entrepreneurs #Kenya #PositivitiLending #lending #creditreports #Microloans #InvestmentOpportunity #FinancialAdvice #investment #FairInterestRates #growth