Challenges and cash shortages for entrepreneurs in Zimbabwe

Lendwithcare's Microfinance Advisor Teresa Hall has been visiting our microfinance partner in Zimbabwe, Thrive Microfinance. While there, she has had the opportunity to meet with Lendwithcare entrepreneurs, and to learn more about how the current economic situation has been affecting their lives and businesses:

"I have been in Zimbabwe visiting our microfinance partner Thrive. I have had the opportunity to meet and speak with women entrepreneurs supported by Lendwithcare.

Street vendor in Chitunwiza

We should uphold the True Spirit of Islamic Finance

This blog was written by Dr Ajaz Ahmed Khan, Senior Microfinance Advisor at Lendwithcare, CARE International UK. It was first published in the True Banking online magazine, and has been reproduced here with their permission.

Guest blog | Design is Political interview with Head of Lendwithcare Tracey Horner

This microfinance platform is helping some of the world's poorest people

This interview was originally posted on the Design is Political website here and has been reproduced here with their permission.

©Peter Caton

Lendwithcare helps people work their way out of poverty. The online platform allows users to make microloans (as small as £15) to those in some of the poorest parts of the world, who invest in building their businesses and improving their lives. We caught up with Tracey Horner, the woman behind the project, to find out more…

Guest blog | Neville Wright: Why I Lendwithcare

Not only has Lender of the Week Neville Wright made an incredible 1,192 Lendwithcare loans in just over 2 years, but until the 15th May he is also generously using any profits from his recent book launch to further support Lendwithcare. Amazing support! We got in touch to ask how and why he first started supporting Lendwithcare entrepreneurs.

Islamic microfinance: Shari’ah compliant and sustainable?

Together with a colleague, Professor Malcolm Harper, I have just spent the past 18 months researching and editing a book on Islamic microfinanceⁱ - which is defined as Shari'ah compliant financial services for poor people. The volume examines the experiences of 15 Islamic microfinance institutions (IMFIs) from 11 countries in Asia, Africa, the Middle East and Eastern Europe. The institutions ranged from relatively small non-governmental organisations with a few hundred borrowers to large commercial institutions, such as the Islami Bank in Bangladesh which has almost one million clients. The book focuses specficially on the operating methodologies they employ, the challenges they face and their levels of financially self-sustainability. For a full description of the analysis and conclusions, I would of course, urge readers to buy the book as soon as it is published. However, I can share a few of the interesting findings.

Pakistan blog series: Learning more about Akhuwat

In February 2017 I was lucky enough to visit our microfinance partner in Pakistan, Akhuwat. Please read my series of blogs to share my experience and insights into this inspiring organisation.

If you are interested in reading more about Islamic microfinance, my colleague Dr Ajaz Ahmed Khan and renowned microfinance experience Dr Malcolm Harper will soon publish a book on Islamic microfinance, which contains a chapter on Akhuwat.

Pakistan blog series | Day 4 - Khana Nou Branch and Delhi Gate Branch: How Lendwithcare works with Akhuwat

In February 2017 I was lucky enough to visit our microfinance partner in Pakistan, Akhuwat. Please read my series of blogs to share my experience and insights into this inspiring organisation.

The borrowers at the Khana Nou branch are also funded by Lendwithcare lenders. During my visit I observed many people either making a repayment on their loan or submitting a new loan application.

Pakistan blog series | Day 3 - Akhuwat office: are they really as good as they seem?

In February 2017 I was lucky enough to visit our microfinance partner in Pakistan, Akhuwat. Please read my series of blogs to share my experience and insights into this inspiring organisation.

One of my tasks when on an evaluation trip for Lendwithcare is to ask questions from Lendwithcare supporters and potential supporters. Three questions I've been asked about our partnership with Ahkuwat are:

1. As a provider of interest-free microfinance, funded by voluntary donations*, are the donations from borrowers really voluntary or do they affect whether someone gets a loan?

2. Does Akhuwat prioritise Muslim borrowers?

3. The percentage of female borrowers is lower than in other Lendwithcare countries.

*Akhuwat encourages its borrowers to donate to Akhuwat's program to help their brethren once the borrowers themselves have gained through economic stability.

Pakistan blog series | Day 2 - Visit to Badami Bagh and Kot Khawaja Branches: meeting the entrepreneurs in person

In February 2017 I was lucky enough to visit our microfinance partner in Pakistan, Akhuwat. Please read my series of blogs to share my experience and insights into this inspirational organisation.

Funding from Lendwithcare over the last 4 years has enabled Akhuwat to open the Badami Bagh and Kot Khawaja branches in Lahore, where almost all borrowers are funded by Lendwithcare lenders. To ensure costs are kept to a minimum Akhuwat branches are very simply furnished - staff sit on cushions at a very low table, and the offices comprise just one room plus a bathroom.

While I was visiting the branches I interviewed several entrepreneurs to find out how much impact the loan has had on their business and life:

Pakistan blog series | Day 1 - Visit to Akhuwat’s office: so much more than microfinance

In February 2017 I was lucky enough to visit our microfinance partner in Pakistan, Akhuwat. Please read my series of blogs to share my experience and insights into this inspiring organisation.

As part of my job I am privileged to visit parts of the world that I wouldn't do otherwise.

One of the most memorable and inspiring trips I have taken recently was to Lahore in Pakistan. Despite the negative impression of Pakistan that the media sometimes present, it was memorable not because of danger lurking round every corner.

It was because I have never come across a more inspirational group of people than the staff of Akhuwat, led by their founder Dr Amjad Saqib.

The city and airport were much less frenetic that I'd imagined (although perhaps landing in Lahore at 2am had something to do with that!)

I had been to Delhi some years earlier and I still vividly remember how many people were at the airport.

It quickly became apparent that westerners are a rare sight in Pakistan, even in large cities such as Lahore. It took a few days to get used to being stared at, but I soon realised that as soon as I smiled, people would shyly smile back. And it wasn't long (in fact, I think it was the next morning in the hotel lift!) before I was asked for my first selfie - and it wouldn't be the last that week!

Guest blog | Tanglin Trust Junior School raise over $6,000 for Lendwithcare entrepreneurs!

As you know, through Lendwithcare lenders can support poor entrepreneurs around the world with a small loan, enabling them to start and grow their own business, and work their own way out of poverty for them and their families.

You may not be aware that it is also a fantastic tool to engage children of all ages in a wide range of topics such as global poverty, overseas aid, personal finance and entrepreneurship.

One of our biggest school supporters is the Tanglin Trust Junior School in Singapore, who have chosen Lendwithcare as their school charity project. Each class at the Tanglin Trust has their own Lendwithcare account, so the students can keep track of their own fundraising, and choose and debate in class which entrepreneurs they want to support.

Recently Tanglin Trust held a whole week of activities to raise funds to lend in class to Lendwithcare entrepreneurs, and raised an incredible $6,000!

Tanglin Trust Year 3 class

How do you know your Lendwithcare loan is doing what it says on the tin?

Have you ever wondered what actually happens when a member of the Lendwithcare team visits one of our Lendwithcare countries to check that everything is working as it should?

In November 2016 I visited the Cambodian Community Savings Federation (CCSF), our partner in Cambodia for the last six years. Usually it would be our Senior Microfinance Advisor, Dr Ajaz Ahmed Khan, who would conduct a monitoring and evaluation visit. However, as I was taking part in a sponsored cycle trip, along with 20 other supporters, which was culminating in a visit to some of our Cambodian entrepreneurs, it made sense for me to conduct a mini evaluation during the same trip.

Guest blog | Zimbabwean micro-entrepreneurs face additional challenges

Lendwithcare lenders have supported so far over 1,200 Zimbabwean micro-entrepreneurs through our partner Thrive Microfinance. Henry Bartram, Managing Director, explains how Lendwithcare loans are still making the difference for entrepreneurs despite the country’s difficult economic situation. He also shares his concerns with us about the deteriorating situation in Zimbabwe and its impact on the micro-entrepreneurs.

Guest blog | How hands forge human connections

This blog has been reposted with permission from Michelle Nicol.

Originally posted here.

One hand belongs to a project manager from a prestigious international law firm. The other to an 81-year-old villager and survivor of the most brutal, insidious civil war.

We are in Cambodia. We have cycled from Paksé in nearby Laos, to a small village community near Battambang to see the difference that CARE International is making to people’s lives through its micro-finance initiative Lendwithcare.

Guest blog | Who are you and what do you care about?

This blog has been posted here with permission from Michelle Nicol.
Originally posted here.

I visited Laos and Cambodia recently to find out more about the charity Lendwithcare, who help some of the world’s poorest people work their way out of poverty.

Building resilience among microentrepreneurs in the Philippines

This blog was written by Dr Ajaz Ahmed Khan, senior microfinance advisor at Lendwithcare. It was first published on the Virgin Unite website for Global Entrepreneurship week and has been reproduced here with their permission.

This year for Global Entrepreneurship Week we will be sharing inspirational stories of how entrepreneurs can provide a shining light of hope in even the darkest of situations.

The Philippines ranks third in the list of countries in the world where a natural disaster is most likely to occur, after the Pacific islands of Vanuatu and Tonga. Although it is also prone to earthquakes, flooding and droughts, it is typhoons that strike the Philippines most frequently. The state weather bureau PAGASA estimates that, on average, eight or nine typhoons or tropical storms make landfall in the Philippines each year, with another nine or ten entering Philippine waters.

Photo ©Peter Caton

Guest blog | Laurie Lee: Recycled loans recycling plastic

Lendwithcare began supporting entrepreneurs in Zimbabwe, through Microfinance Institution Thrive, one year ago. I was able to visit the country recently and met some of the entrepreneurs that I - and 80 of you - had supported in June 2016. I met the Nokutenda group, which comprises four women entrepreneurs all running different businesses. By being part of a group they are able to support each other with practical advice and friendship.

I met three of them and showed them how Lendwithcare works. I was able to show them their profile on the Lendwithcare website, under “My Loans”, and show them all of the lenders who had contributed to their loan.

RubyMoon lends 100% of its profits to Lendwithcare women entrepreneurs

Lendwithcare now has a community of over 33,000 lenders, supporting over 45,000 entrepreneurs around the world.

One lender is ethical swimwear company RubyMoon, who uses 100% of their net profits to lend to women entrepreneurs through Lendwithcare. RubyMoon has been lending for 5 years, and so far has made 179 loans to women entrepreneurs and entrepreneur groups. We got in touch with founder Jo to find out more about why she wanted to involve RubyMoon in Lendwithcare, and her lending story so far.

Jo, founder of RubyMoon

Guest blog | A lender's experience meeting Lendwithcare entrepreneurs

Lendwithcare has recently lent £10 million to entrepreneurs across the world, and to celebrate, we are offering one lucky lender the chance to win a trip to Zambia to meet Lendwithcare entrepreneurs, and see the difference their loans have made.

Long-standing lender Gary Nicol shares his experience of when he met Lendwithcare entrepreneurs, by taking part in CARE's Vietnam to Cambodia cycle challenge:

Financial products and training, the winning formula? | Nancy's update from Zimbabwe

It is now widely accepted that a key component of financial inclusion, that is providing poor and low-income people with access to appropriate and affordable financial services, is financial literacy. This, of course, makes perfect sense. After all, what is the good in providing the tools if the recipients do not fully understand how to use them, or indeed understand what might be the risks of using them?