Report from the beneficiary Rural and Community Banks (RCBs) and Micro Finance Institutions (MFIs) demonstrated the impact our Fund is making in their communities.
The loans served as a means of empowerment by supporting women’s economic participation and helped to improve household wellbeing. Our loans through the RCBs helped a lot of low income households to invest in their own businesses, expand their business by increasing their stock. The customers after paying their loans were also able to make savings that helped improve their life. The saving culture of the clients rose due to the benefits they gained out of it including payment of children school fees, rent and medical expenses.
Furthermore, the confidence levels of the women were boosted. In this regard, some of the women are now occupying positions in Unit Committees, Church and other community groups.
Interviews conducted with beneficiaries during our operations monitoring revealed the following impacts on their businesses and lives.
The Credit facility has improved their earnings and the availability of resources. The loan increased their working capital and expanded their businesses, thereby creating job opportunities in their communities. The loan also helped to increase gender equality and those who were less privileged now have access to funding thereby increasing their sales and income. Some were equipped with entrepreneurial skills and contributed in stabilizing their business capital and now enjoying financial security which has improved their living conditions and that of their families.
Our partner institutions mainly Rural and Community Banks also continue to testify about the impact of the Fund’s support on their own operations over the years and increase in their profitability. The facility continues to serve as buffer against withdrawals during the lean season for the beneficiary Rural and Community Banks.