Last updated 30.08..2022
© Kekeli Togo e.V. Imprint/Data protection

We finance our projects through donations - help us! Every contribution counts!

We are urgently looking for partners for our projects!

VR Bank Bayreuth-Hof eG Kekeli Togo e.V. IBAN DE317806089600007015 21 BIC GENODEF1HO1

Microcredit - promoting economically sustainable self-employment

The women are the pillars of the family. They work in the fields, sell their produce at the market. Or they earn the important contribution to their livelihood with sewing and similar activities. With a micro-loan as start-up capital, they have the opportunity to expand their small farm and buy a sewing machine. A local women's group administers the funds; only members can take out a loan. Thus, the women's group is also the controlling body for the fund. There is maximum transparency. The loan is interest-free and is paid back in short term, but in small instalments.

What are microcredits and how do they work?

Microcredit is the term used to describe microloans that are usually granted interest-free - a system that is being used more and more in developing countries where many people live below the poverty line. Micro-entrepreneurs in particular are supposed to benefit from the loans. An example: A seamstress wants to buy a sewing machine to sew school uniforms that she can then sell. However, she does not have the money, about 100 euros, for the purchase. A bank will not give her a loan because she has no collateral. Through our internal microfinance fund, she has the possibility to get this money from us. She turns to the specially formed committee, which decides on her creditworthiness. If she presents a good concept, she gets the money, interest-free of course. She then has to pay it back within a certain period of time. Help for self-help Many will ask themselves, why don't we just give her the money or the sewing machine? With our help for self-help, we ensure that a certain responsibility is learned and that the borrower develops sustainable, feasible business plans. During our visit in January 2020, we "symbolically" handed over an amount for the microfinance fund from our donation fund. As the disbursement goes through various instances, it is ensured that the allocation of the funds is transparent and conscientious. The committee, which consists mainly of women, was trained by Cobby Adjanor, the coordinator of our microfinance project.

Kekeli Microfinance: a balance sheet worth seeing

148 villagers have received micro-financial aid from our association so far, as Cobby Adjanor, who manages the micro-financial aid fund for Kekeli, reports. With the equivalent of EUR 60 as interest-free initial financing, the people in Klologo can build up their own livelihood. They are advised in advance and now trained - because they are now small entrepreneurs. On 20 December, the first training courses in management and organisation were held for 30 participants. Further courses will follow between the end of December and mid-January. With this project, Kekeli Togo is supporting the path out of poverty by helping people to help themselves. The fund started with a capital of 3,000,000 F CFA, which is equivalent to 4,500 EUR. The beneficiaries pay a one-time, low membership fee; the interest-free start-up aid is repayable in instalments after three to six months. In this way, the fund pot remains full in the long run, and more people can benefit from the support. It is in line with the principle that charitable funds are best invested when the people on the ground can use them as they see fit with regard to expanding or establishing their own economic existence. This is sustainable and guarantees lasting empowerment.
Besucherzaehler
Last updated 30.08.2022
© Kekeli Togo e.V. Imprint/Data protection

We finance our projects through donations -

help us! Every contribution counts!

We are urgently looking for partners for our

projects!

VR Bank Bayreuth-Hof eG Kekeli Togo e.V. IBAN DE317806089600007015 21 BIC GENODEF1HO1
Besucherzaehler

Microcredit

-

promoting

economically

sustainable

self-

employment

The women are the pillars of the family. They work in the fields, sell their produce at the market. Or they earn the important contribution to their livelihood with sewing and similar activities. With a micro-loan as start- up capital, they have the opportunity to expand their small farm and buy a sewing machine. A local women's group administers the funds; only members can take out a loan. Thus, the women's group is also the controlling body for the fund. There is maximum transparency. The loan is interest-free and is paid back in short term, but in small instalments.

What are microcredits and how do they work?

Microcredit is the term used to describe microloans that are usually granted interest-free - a system that is being used more and more in developing countries where many people live below the poverty line. Micro-entrepreneurs in particular are supposed to benefit from the loans. An example: A seamstress wants to buy a sewing machine to sew school uniforms that she can then sell. However, she does not have the money, about 100 euros, for the purchase. A bank will not give her a loan because she has no collateral. Through our internal microfinance fund, she has the possibility to get this money from us. She turns to the specially formed committee, which decides on her creditworthiness. If she presents a good concept, she gets the money, interest-free of course. She then has to pay it back within a certain period of time. Help for self-help Many will ask themselves, why don't we just give her the money or the sewing machine? With our help for self-help, we ensure that a certain responsibility is learned and that the borrower develops sustainable, feasible business plans. During our visit in January 2020, we "symbolically" handed over an amount for the microfinance fund from our donation fund. As the disbursement goes through various instances, it is ensured that the allocation of the funds is transparent and conscientious. The committee, which consists mainly of women, was trained by Cobby Adjanor, the coordinator of our microfinance project.

Kekeli

Microfinance:

a

balance

sheet

worth

seeing

148 villagers have received micro-financial aid from our association so far, as Cobby Adjanor, who manages the micro-financial aid fund for Kekeli, reports. With the equivalent of EUR 60 as interest-free initial financing, the people in Klologo can build up their own livelihood. They are advised in advance and now trained - because they are now small entrepreneurs. On 20 December, the first training courses in management and organisation were held for 30 participants. Further courses will follow between the end of December and mid-January. With this project, Kekeli Togo is supporting the path out of poverty by helping people to help themselves. The fund started with a capital of 3,000,000 F CFA, which is equivalent to 4,500 EUR. The beneficiaries pay a one-time, low membership fee; the interest-free start-up aid is repayable in instalments after three to six months. In this way, the fund pot remains full in the long run, and more people can benefit from the support. It is in line with the principle that charitable funds are best invested when the people on the ground can use them as they see fit with regard to expanding or establishing their own economic existence. This is sustainable and guarantees lasting empowerment.

Help us with your donation to make these vital projects,

which primarily benefit children, a reality.

100 % of your donation arrive!
Poverty

Help us with your donation to make these vital

projects, which primarily benefit children, a

reality.

100 % of your donation arrive!
Poverty