We have all worn a name badge with the phrase ‘Hello, my name is…’ we write our name down and never give it a second thought. But what about the story behind the name badge? Let me introduce you to some people living in the slums of Nairobi and the stories behind their name.
Elese – she is married and has three children. Elese received a loan of $106 from the MoHI Microfinance program to support her charcoal selling business. She was able to repay that loan and get another loan for $333 to start a tailoring business that now employees two other women. She has also been able to start saving money.
Elizabeth – a single mother of two daughters. She received a $8 loan from the microfinance program to start a baking business. She now makes enough money to support herself and her daughters. Both of her daughters are now in high school. While we were in Kenya, we had a chance to meet her.
Ann – she has three children. She was referred to the Mission of Hope school where she was able to enroll her children and received a $15 loan from the microfinance program to start a soap business. She has expanded her business to include selling tea leaves and salt for area restaurants. She and her children now live in a stone room in upper Mathare.
These are just some of the success stories of the Microfinance Program create by Mission of Hope International and CMF. In the fight against global poverty, microfinance is a unique weapon in the form of loans given to already created or newly-forming tiny businesses run by the poor themselves. In developing countries, microfinance
- employs up to 70% of the labor force.
- creates work for women, minority groups, and the uneducated, untrained, unskilled.
- provides needed products and services.
To learn more about microfinance and the work CMF and MoHI is doing and how you can help please visit http://cmfi.org/whatwedo/microenterprise.
