More than 3000 Women in Zambia have benefited from the Micro-finance Poverty Reduction Project (MPRP), says the chief executive officer Mrs. Grace Nkhuwa.
The project which had initially targeted 2,400 poor women to receive loans to improve their socio-economic status has reached out to 3,309 women as at the end of July 2008.
Speaking at a press briefing today, Mrs. Nkhuwa said the project which commenced in April 2004 is aimed at developing an effective microfinance model for poverty reduction in Zambia through building the capacity of local microfinance institutions.
MPRP is a pilot collaboration between the governments of the republic of Zambia, the government of Japan, United Nations Development Programme (UNDP), United Nations Volunteers (UNV) and the Grameen Trust (GT).
Micro bankers trust (MBT), and the institute of cultural Affairs Zambia (ICAZ) were selected to implement the project in the targeted areas of Lusaka urban and chongwe rural
She said the project has performed exceptionally well in respect of portfolio quality, outreach and ability to mobilize savings .
Mrs. Nkhuwa revealed that this is the first time in Zambia that a micro project has reported such excellent portfolio.
The project was designed in line with the Millennium Development Goals (MDGS), which are to eradicate extreme poverty and hunger, promote gender equality and empower women and also combat HIV/AIDS, malaria and other diseases.
Only 3000 women lets be serious madam just say the project has performed exceptionally well to your family and friends in govt . what have you done to eradicate extreme poverty and hunger, promote gender equality and empower women and also combat HIV/AIDS, malaria and other diseases? Our women in villages are still in the dark and you busy in town driving good cars please start sending auditors soon in this so called projects
How can you give the poor women these loans,what business is their for the women,give them free cash and educate them how to use that money than giving them sleepless nights over how to pay back the loans.
this madam is joking, which place did the women benefit,guz be serious. madam you don’t repect women,how can you call women that are poorwomen have benefited from your money? just tell the nation that you have benefited with your famiy and friends but not with poorwomen at all.
A good effort but we need to see the actual results on the ground. Like getting the beneficiaries to tell us what business the are doing and if these businesses are still running.
Can you list the names of women who benefited from loans and also districts they applied and got loan from. Otherwise, these loans are abused by loan givers by dishing them to friends and families who have no business clues.
Zambia is really an example to so many countries in the region in this area.But we need to do more for the youths
Ok! you have given them the nets (Money) but you have not taught them how to catch fish (how to do business) what kind of empowerment is that, its mokery. HOW ARE THEY GOING TO PAY YOU BACK?
#3 you are spot on !! It makes a nice heading to read that 3000 women have been given loans. Give more details like how did these women apply and what the criteria was, and also, as #7 rightly says, what on-going assistance/support will these women get to ensure that they do get to repay the loans ?
Dont just give these poor Women Loans and hope to realise a profit from them from the high interest rates you’re charging them but lay a solid foundation for them by teaching them how to catch fish as well.
If you give them loans without a solid foundation,most of these wommen will just buy flower for making vitumbuwa and others will go kwa shantumbu kuma order ya rep/tomota most of which will end up going stale.
I’m a little negative because the details are missing.
This is good news. I like news like this especially that they initially aimed for 2400 people but instead got over 3000 people. That is a great achievement.
I cannot walk into a bank and say “I want a loan” and expect to get it. The bank will ask me to either right a business plan or explain what I will use the money for, they’ll then assess the situation and either approve or deny the loan. I presume it was the same for these women.
I highly doubt they would have applied and said “we want to use the loan to make vitumbuwas”, there is no way that project would have been approved.
I would be curious to know however the business these women have started. But otherwise, well done.
word correction: “write” and not “right
Lets be serious
#7 Am with you. What you need first is the social empowerment of the poor people. How do you empower someone economically before you could deal with the poverty of the mind? I know of a number of projects like that that have failed. I can assure you less than a quarter will pay back or will have their lives improved.
“She said the project has performed exceptionally well in respect of portfolio quality, outreach and ability to mobilize savings”
If the portfolio quality is exeptionally well, then 95% of these women must have paid back their loans and that same money was again loaned out to benefit the other 600 women. I am sure the women are now better off than before beacuse they can even afford to save some of the profits realised from whatever business ventures they’re in-“ability to mobilise savings”.This is indeed good news for our women # 10. However, the challenge is to get more of our mothers involved in such projects in order for us to sustain our fight on poverty.
How can somebody be empowered by debts? Foolishness!