Lending to Africa’s Poor
Today’s BBC Business Daily programme examined microfinance in Malawi. It highlighted that one of the biggest obstacles to entrepreneurs is credit and emphasised the difficulties of gaining capital investment for a new business.
Interviewed in the programme is a businesswoman named Fanny, who is a MicroLoan client in Malawi. Thanks to loans she received, Fanny was able to set up a second-hand clothing business, a day-minder service as well as becoming a landlady since she started building and renting houses. All of this shows “what is possible when you have a little bit of money and a little bit of support” which is exactly what MicroLoan sets out to provide its clients.
Furthermore Peter Ryan, CEO and founder of MicroLoan, spoke about the work MicroLoan does and why it is so relevant to the situation in Malawi.
If you would like to listen to the programme, please follow the link below.