Today, we are excited to kick off our celebration of International Women's Day! We are honoring the incredible achievements of women worldwide, acknowledging the obstacles they face, and advocating for a more just and equitable society. This year's theme, "For ALL women and girls: Rights. Equality. Empowerment," calls for collective action to unlock equal rights, power, and opportunities for all, ensuring a future where no one is left behind. At Orant, we're committed to empowering rural women in our community. Read our latest blog article to discover the ways we're working towards a more equitable future for all.
Women Village Savings and Loan Groups
Married with 2 kids, Miguel Mpango is a participant in our Financially Empowering Microloans (FEM) for Women Program. She runs an agro dealing business.
The Orant Charities Africa FEM program supports women who are stuck in a cycle of poverty. It provides no-interest loans, which participants pay back in equal installments over four months. This money helps participants invest in their small business. They use the profits to improve their lives by sending their children to school, buying household needs, and further investing in their businesses. This is made possible by their savings.
“Most people in rural areas lack the saving culture,” says Tango Phiri, Orant’s FEM Program Manager.
In response, FEM organized two Women Village Savings and Loan (VS&L) Groups. Being part of such a group has made a significant difference in Miguel’s life.
“We introduced the VS&L groups as a way of cultivating a saving mindset in the women we work with,” says Tango. The first group started in 2018; the second in 2021. At age 24, Miguel joined the Tiyanjane VS&L group in August 2021.
Each group is composed of 12-15 hard-working women, ready to take charge of their financial futures. They run small-scale businesses and use the VS&L groups to save their proceeds.
“I was doing business for a very long time, but nothing tangible emerged from my long days of toil,” says Miguel. “I used to use all the proceeds from my business on unnecessary things. It was a hand-to-mouth situation.”
The VS&L groups serve in one-year cycles. The cycle starts in January. They share out in December. However, Miguel’s group started late.
“Our group started in August, but I still came out with a sum of 102,000 MWK during our December share outs,” says Miguel.
Miguel re-invested her portion of the shares in her business. With the proceeds, she extended and renovated her house.
What strikes her most about the VS&L group is its access to loans.
“Before joining the VS&L group, whenever emergencies arose, I got hit with high and costly interest loans. But now I get loans from my group and generate my own interest.”
Currently, Miguel has joined another cycle. Once she gets her share out in December, she plans to buy a digital scale and get her business officially registered.
Share on:
The Orant Journal
It's been a while since we last shared an update on our Mobile Outreach clinic, but rest assured that our team has been working tirelessly to deliver healthcare services to hard-to-reach populations. Despite the challenges posed by the rainy season, our clinic remains in full swing, with our team venturing out every day to bring medical care to those who need it most. In today's blog, we highlight the significance of our Mobile Outreach clinic during this rainy season, and its impact on the communities we serve.
In today's fast-paced world, digital financial literacy is more important than ever. It is essential for saving time and resources, as most financial transactions have gone digital. This week, our Business Development program launched a digital financial literacy campaign, building on our previous "Hey Sister! Show me your mobile money" campaign. Read our latest blog article to learn more about this campaign and its impact on our communities.
These beaming smiles belong to our Tikondane Village Savings and Loan (VSL) group members, who have just harvested the fruits of their labor after a year of hard work and diligent saving. Through our VSL program, these incredible individuals have learned the value of saving, budgeting, and investing in the future of their families. Click the link below to learn more about how VSLs work and hear incredible stories from these women.
We are so happy about the strides our Business Development Program is making. In today’s post, we share the story of Judith Kachala, a Financially Empowering Microloans (FEM) for Women program cohort 3 member. Judith’s story is a testament to the power of hard work and determination. Read our latest blog to learn more about Judith’s story.
At Orant, we are committed to supporting local entrepreneurs, especially women. This is what spurred us to start our Financial Empowering Microloans (FEM) program in 2017. However, we came to realize that our program participants needed more comprehensive support to achieve sustainable growth. This is why we are excited to announce the evolution of our FEM program into what we now call Business Development Program!. Read our latest blog to learn more about this evolution.