April 2010
Dear Power of Love Friend:
We celebrated International Women's Day, by providing 50 new loans to women in Zambia. Members of the Rotary Club Nkwazi in Lusaka, participated in the event and everyone had a wonderful time.
Microfinance is a powerful tool in making women self-reliant as it can transform completely the life of a needy mother or grandmother in AIDS stricken Africa. On average our loan recipients provide care for 4 children, and 3 elderly people at home. This implies that the 50 new micro loans will benefit at least 400 people directly (assuming an average household size of 8) and at least another 1000 people indirectly.
Some of the new businesses started by the women are:
- Sale of dried fish
- Fritters and Pop corn
- Grocery items like vegetables, fruits, beans, soft drinks, mineral water, eggs, dressed chickens, floor polish, bags of charcoal, Cakes, and cookies.
- Hardware
- Used clothing
The success of this program has been the result of strong local management and leadership. The program has repayment rates over 92% every week and 100% participation. The women have a new-found sense of self-esteem. They speak of a better future for themselves and their families. And every one of them feels better equipped to protect herself and her family against HIV infection. To learn more visit http://www.poweroflove.org/microfinance-women-summary.
We are ready to rapidly expand this program to provide 200 new loans to needy women. Our goal is to raise $20,000 to provide new loans. Please consider support a family and help keep the chidlren in school with a micro loan.
If you wish to contribute to this program or to any of the other POL program visit www.poweroflove.org or email us at info@poweroflove.org.
Zikomo Kwambiri
Your friends at the Power of Love Foundation