We provide small loans (otherwise known as microloans), basic business training and continuing guidance to groups of women in sub-Saharan Africa. This enables them to develop self-sustainable livelihoods, feed, clothe and educate their families, and work their way out of the poverty trap. We now have twenty offices in Malawi and have made microloans to 17,000 women. We have recently begun operating in Namibia and Zambia as well.

8th February 2010

Post

DFID Releases Malawi Assistance Report

From: Reliefweb

Edward Leigh MP, Chairman of the Committee of Public Accounts, today said:

“It is difficult to judge whether the Department for International Development has spent UK public money efficiently in Malawi.

The report highlights the need for sustainability and an “exit strategy”. It is also mentioned that only 60% of DFID’s targets were met, and that even those targets were “not fit for purpose”.

Will this lead to a new process of target-setting and participation? Will more decisions be undertaken by Malawians in choosing their future?

Particularly of interest here is the priority given to microfinance in the minutes of the discussion. DFID officials and MPs seem to agree that expanding credit access for the rural poor is instrumental for poverty-reduction in Malawi.

Read the full report here

Microloan Foundation