The Trust donated £25,000 to the Microloan Foundation - which helped to deliver the Foundation's "Livelihoods Programme" in Malawi.
About the Cause
The vision of the Microloan Foundation is a world where all those living in poverty have the opportunity to build better lives for their families.
Objectives
The Foundation's Livelihoods Programme which the Trust supported in 2020 with their donation of £25,000 has helped over 280,000 poor women in rural sub-Saharan Africa to work their own way out of poverty.
"We truly appreciate your generous support of MicroLoan Foundation" Malin Rosenkvist - Director of Fundraising and Communications, Microloan Foundation
Work Carried Out
During 2020 the Foundation provided financial literacy, business training and small affordable loans to women in Zimbabwe, Zambia and Malawi with 52,456 women benefiting from the support.
As a result, 340,000 dependents in their care have improved food security, access to education and healthcare services.
The foundation encourages women to save and informs them how this will benefit them in the future by providing financial resilience. The savings provide insurance against future crop failure, family illness and other unpredictable situations. 97% of of the women helped are able to create small savings pots, compared to11% before joining MicroLoan.
On average the women in Malawi increase their business profit by 227% after joining the program.
With up to 97% of loans repaid, the money is used to help even more women start a business. Therefore, a small investment goes on working time and time again.