Micro-Enterprise Training and Loans
- Congo, the Democratic Republic of the
- $10,001 to $25,000AfricaMarginalised peopleCongoMicro-Enterprise
Despite strong financial growth associated with a rich store of natural resources, the benefits of trade and investment from the international sphere has not been distributed evenly within the Democratic Republic of Congo. Turning to self-sufficient innovation, a centralised service centre has been set up to upskill marginalised Congolese as they take out small loans to commence micro-enterprise ventures. Participants receive training in financial management related topics such as ‘Asset Based Community Development’, ‘Small Business and Social Enterprise Principles’, ‘Savings’ and ‘Loan Circles’ via online and in-house classes and coaching.
Having undertaken compulsory modules, participants form similar-interest groups with an elected president, secretary and treasurer. Weekly meetings are held to report progress and discuss issues whilst also repaying loans to a communal pool through small contributions. This pool acts as an insurance against defaulters and enables each group to save toward a set goal. Once members demonstrate reliability with a small loan, they are offered a larger pilot loan and can later go on to start up their own individual business with support and guidance from the centre. A wide array of industry groups have formed including livestock keepers, sewing & knitting groups, diamond diggers and healthcare workers.
Key Areas of Expenditure
- Training resources
- Centre upkeep and running costs
- Start-up loans and training
- Monitoring and check-ups