February 2008
Dear Power of Love Friend:
POL's micro-finance program in Lusaka, Zambia is now 2 years old! The wonderful grassroots micro-finance program for women impacted by HIV/AIDS has directly benefited more than 125 families (including over a 1000 grandmothers, mothers, and children). Seventy five sick or needy children have gone back to school and all families now have a steady income and a regular diet.
The success of this program has been the result of strong local management and leadership. The program has repayment rates over 96% every week and 100% participation. The women have a new-found sense of self-esteem. They speak of a better future for themselves and their families. Every one of them feels better equipped to protect herself against HIV infection. To learn more about this program visit http://www.poweroflove.org/innovationLab/mtac.htm.
We are ready to rapidly expand this program to over 250 needy women. The program requires $6,000 every year to manage and run (in addition to the loan amount). We are looking for one or more donors to help raise this amount. Please consider supporting this program. If you wish to contribute to this program or to any of the other POL program please visit our website (www.poweroflove.org) or email us at (info@poweroflove.org).
Here are 3 stories that speak to the power of microfinance in totally transforming the life of a needy mother or grandmother in AIDS stricken Africa.
Peace,
Your friends at the Power of Love Foundation
Clera Chimfwembe
Being a 52 year-old widow with seven children, Clera has seen difficult times. Prior to joining the Power of Love micro loans program, she worked sporadically selling vegetables like beans and kapenta, but found that often she had to stop selling because she couldn't earn enough money to purchase the necessary inventory items. POL’s loans have helped her purchase and sell more consistently, and she credits the improvement in her business methods to the training received from POL. Clera’s new business is selling “chitenge” cloth, a traditional garment for African women. This is a brightly colored length of material wrapped around the waist as a skirt or a dress. Women also use the “chitenge” cloth to carry an infant on their backs, wrapping it around the baby, then over their shoulder and under the other, knotting it at the front.
As a result of the loan and her business doing well, Clera says that she is able to feed her children three meals a day and now has two children in school. Clera hopes to expand her business even further. Her ambition is to earn enough money to build a two-room house, so that she would no longer have to rent space as she does now.
Lydia Khondowe
A widow at 52, Lydia has supported her six children by selling tomatoes, but sometimes it wasn't enough to allow her to put enough food on the table. The Power of Love micro loans program has helped her improve her business and increase her profits. Training, support, and micro loans provided by POL have taught Lydia to make her business more profitable for example, by increasing the assortment of her products. She now sells a much larger variety of vegetables, in addition to cooking oil and eggs. According to Lydia, as a result of the loan, she is able to feed her children every day. Also, Lydia says that she is independent as she no longer needs to seek help from her relatives in order to pay fees for her three children who are still in school.
Lydia has been making her repayments on time, but feels that she needs another loan from POL for her to become completely independent financially. Lydia’s plans for the future include investing in a two-room addition to her house, so that she can rent that space and have a steady source of income.
Christain Mulenga
As a result of joining Power of Love’s micro credit program, 55 year-old Christain has been able to improve the quality of life for herself and her family. Her husband is unemployed, his pension money has run out, and the couple cares for 9 children.
Christain has made good use of the loans she has received. With her first loan, she purchased a popcorn machine, which operates on the street in front of her house. Earnings from her popcorn business allowed her to pay off the loan and qualify for a second loan, with which she was able to open a salon. Christain has purchased a second hair dryer for her salon, is now able to take in more clients, and has hired a part-time employee for assistance. More importantly, she is able to provide the family with three meals a day and is able to send some of her children to school. Her future ambitions include further expansion of both of her businesses. Christain wishes to extend the salon building, and she hopes to purchase another popcorn machine to keep up with demand.
Christain also credits the POL program, and in particular a guest speaker brought to one of the weekly sessions, for giving her encouragement and lessons in entrepreneurship and money management. She has opened a savings account at a local bank and is earning interest on her savings. Her children have learnt valuable lessons from her business and her son has since opened a barbershop.