NAME OF INSTITUTION: MicroLoan Foundation
ADDRESS: P.O Box 491, Kasungu.
PHYSICAL LOCATION: Off Boma street, Collado House, behind Kasungu magistrate court.
CONTACT PERSON: James Kajamu Kajamu
POSITION: Chief Executive Officer
SERVICES OFFERED: Loans, business management training, skills training, savings.
OPERATIONAL AREAS: Karonga, Rumphi, Mzuzu, Mzimba, Nkhatabay, Nkhotakota, Dwangwa, Ntchisi, Kasungu, Mchinji, Mponela/Dowa, Lilongwe, Salima, Ntcheu, Balaka/Liwonde, Mangochi, Zomba, Blantyre, Mulanje, Chikhwawa
TARGET GROUP: Women
NUMBER OF ACTIVE CLIENTS: 20,226. As at 30th April, 2010
VALUE OF LOANS OUTSTANDING: MK232,676, 692 . As at 30th April, 2010
KASUPE TRAINING CENTRE OPENING
The MicroLoan Foundation is a UK based charity founded by west London businessman and philanthropist Peter Ryan, in 2002. Since then these humble beginnings have evolved into a tightly managed socially driven microfinance organisation which each year supports over 25,000 women and 100,000 children across 18 Districts spanning the length and breadth of Malawi. By the end of 2010 the organisation had made more than 100,000 loans totalling over MWK1bn in value.The MicroLoan Foundation exists to reduce poverty and inequality in Africa by providing microfinance services, specialized training programmes and mentoring support for impoverished women. It has pioneered an innovative and sustainable microfinance model suited to rural areas and for people at the bottom of the pyramid for whom no other source of microfinance is available.
The charity also provides opportunities for women to develop lifelong skills, access vital financial services and establish sustainable small businesses, an integrated approach which has a dramatic effect on their quality of life.
In order to be able to enhance this area of work, Microloan Foundation has built a new state of the art Training Centre at Kasungu . The Centre was opened by the Reverend Bishop Kaulanda on the 4th May. The ceremony was opened with the Matunda women’s credit group welcoming staff, management and partners of MicroLoan with singing and dancing. The Reverend then blessed the new building, cut the ribbon and all guests were taken on a tour to see the new facilities:
A state of the art IT training centre used to train MicroLoan Foundation staff, clients and partners in the use of computers, emails and the internet which will be an ever more important skill for all their futures.
The Microloan Foundation knitting and sewing school
The charity has pioneered a life skills project which offers women a real opportunity not only to learn a new skill but develop a new income for their families. Students study either knitting or sewing for three months with suitably qualified tutors and are then supported either in groups or individually to purchase machines and / or materials for them to make garments for sale. The charity has also sourced prestigious national and international markets where they can sell specific products.
Training, meeting and conference facilities.
These will be available for use not just by the MicroLoan Foundation but also for local government and other NGOs to hold meeting and conduct training sessions.
The tour was followed by speeches by founder Peter Ryan and from the Bishop Kaulanda, and the Interim CEO Francis Munywoki, explaining how this marks a new beginning for MicroLoan Foundation, and its vision for the journey ahead. Guest also heard from 2 of MicroLoan’s clients as to how their support now enables them to send their children to school and make improvements in their homes. The event finished with a buffet lunch and more dancing.
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