MicroLoan is delighted to announce our renewed partnership with Whole Planet Foundation.
Since 2010 Whole Planet Foundation (WPF), a Whole Foods Market Foundation dedicated to poverty alleviation around the world, has partnered with MicroLoan in both Malawi and Zambia.
They have provided several multi-year grants that have allowed us to grow our loan book, develop our resources and reach even more women. Thanks to WPF’s support over the years, in both our Malawian and Zambian expansion, over 32,000 women have benefitted. They have gained access to MicroLoan’s support to start a business and earn an income. As a result an estimated 128,000 children have benefitted from increased access to healthcare, nutrition and education. In 2015 they also awarded us a grant to purchase IT equipment to complement the rollout of a new Management Information System (MIS).
This system has allowed us to improve the efficiency and impact of our model. Data captured by our Loan & Training Officers on beneficiaries, loans, repayments and savings can now be transmitted seamlessly into the MIS so that operations can be monitored in real-time. It has also enabled us to track individuals rather than loan groups so that we can identify women who are struggling to repay and offer them further support or reschedule their loan repayments.
Expanding in Zambia
We are delighted that Whole Planet Foundation have renewed their partnership with us, which will be instrumental for our expansion plans in Zambia. They will be providing new grant funding over a period of three years to help us reach more poor rural women in the Northern and Southern Provinces of Zambia.
Earlier this year we opened our first branch in the Northern province with the women of the Kasama branch receiving their first loans in March. With the support of Whole Planet Foundation an estimated 5,400 women will also have the opportunity to join our livelihoods programme in these regions. With access to small loans and training in financial literacy and business they will kick start their entrepreneurial journey so they can provide the basic needs for their families.
The support from Whole Planet Foundation over the last nine years has been key to the evolution and expansion of our work. They have been very understanding of the often fluctuating environment in Zambia and Malawi, when events such as political violence, natural disasters and disease outbreaks impact the lives of our beneficiaries and affect how we carry out our mission. MicroLoan is excited to start this next chapter in our relationship with Whole Planet Foundation with our expansion in Zambia.