Project Humanity is seeking to enable the women on Rusinga Island to start their own businesses through a microfinance strategy. Microfinancing is a source of financial servicing in areas where access to traditional banking is limited or non-existent and has become a viable option for assisting to tackle poverty.
Project Humanity has entered in an agreement with Weba International for the development of micro-finance projects on Rusinga Island, Kenya. Based in Nairobi, Weba International is a consulting firm that works to support local and international microfinance institutions to access needed resources and technical expertise to assist them to grow effectively and with greater impact. A focus of Weba is to work with grassroots organizations and non-governmental organizations (NGOs) in East Africa to identify small business opportunities and to provide the technical expertise and financial literacy training necessary for microfinanced businesses to succeed.
As part of its mission, Project Humanity has made a five-year commitment to advance prenatal healthcare, HIV/AIDS prevention, education, and women’s empowerment through international volunteerism on Rusing Island. The agreement with Weba International will assist Project Humanity to further meet its goal of advancing women’s empowerment by identifying business opportunities which can be started through small loans which will enable women on Rusinga Island to start and eventually own their own businesses. Funding for the project is being provided through the Chase Community Giving Grant that Project Humanity was awarded in 2013 and through private donations.
Initial research and training for the microfinance project will be conducted by Dr. Kenneth N. Marangu who has completed work on similar projects in other regions of Africa to include Tanzania, Uganda, and Zambia. The partnership between Weba International and Project Humanity includes assessing and determining the best options and models for implementing a micro-finance program on Rusinga Island, and for writing a procedures manual for the implementation of the strategy. Weba International will also assist to provide finance literacy training to the eventual small business owners.
Weba International will initiate and complete its work in June and July and Project Humanity will begin providing microfinance funding by September 2014.
Your donation will go towards funding the loans that will be used to start the businesses.