Tuesday, March 16, 2010
Pre-schoolers Benefit from Micro-finance
In Mutasa District of rural Zimbabwe, Anah Muganiwa, Gladys Murinda and Jesimine Gawaza have recently teamed up to open a creche using their Internal Savings and Lending (ISL)proceeds. ISL is a hugely successful rural micro-finance methodology that ASAP has been implementing in Zimbabwe since 2001 and in Malawi since 2008. The 3 women have secured a license to operate a creche from the Ministry of Education. The capital realized from group savings shares was used for logistical purposes and paying of initial rent of the premises. They now realise profit by end of each month and currently have an enrollment of 65 children.
To read more about ASAP's ISL projects click here.