Lendwithcare microloans making big differences in Togo, West Africa

A couple of weeks ago, Ajaz (Lendwithcare's Microfinance Advisor) and I headed out to Togo and Benin in West Africa to conduct the annual evaluation of our microfinance partners. Whilst there we also met some of the entrepreneurs receiving Lendwithcare loans.

 - Nancy Thomas, Lendwithcare Executive

 

Video updates from Togo part three: “A small loan is like oil in an engine; it allows people to move forward"

Finally, part three of Tracey's video updates from her April 2013 trip to Togo is here! Here are also parts one and two for some context.

To round off my blog/video updates from Togo, I wanted to share with you some lasting impressions from the trip.

The passion and commitment of the WAGES staff

Many of the office staff began their careers as Loan Officers, including the General Manager, Ramanou Nassirou who, when talking about the entrepreneurs said “most of them know how to run their business, we just provide them with a small loan to get them started - a small and affordable loan is like oil in a car engine; it allows people to move forward". 

I have already written about how WAGES supported clients who lost everything in the massive fires which swept through the great markets of Lomé and Kara last year and this demonstrates further the commitment that WAGES have to improving the lives of their clients. 

"Liberation loans" offered by our partner in Pakistan to free poor people from spiralling debt

After the 2014 Oscars ceremony, Steve McQueen's film “12 Years A Slave” deservedly took home the big prize of best picture. However, it is important to remind ourselves that the barbaric practice of slavery is not something we can consign to the history books. It is still a contemporary issue in many countries around the world.

The epic 1957 Bollywood film ‘Mother India’ movingly portrays the story of a family struggling to survive against the machinations of a local moneylender. Many decades later this is still one of the rare examples of Indian cinema vividly reflecting the reality faced by millions on the Indian sub-continent, and instances of local moneylenders charging usurious rates of interest remain as prevalent as ever throughout much of South Asia.

As well as providing loans to people wanting to establish or develop their microenterprises, lendwithcare’s partner in Pakistan, Akhuwat, provides ‘liberation loans’ to people who are struggling to repay debt that has been taken from local moneylenders. In most instances, borrowers took out small loans at interest rates of up to 20% per month and the debt has spiralled out of control. Sometimes borrowers have already sold what few assets they own, yet still struggle to keep up with repayments. Shahzad Akram, Akhuwat’s Chief Credit Officer, recalls instances where young borrowers have even committed suicide and some moneylenders demanded that borrowers sell their daughters to repay the debt. In parts of southern Punjab and Sindh it is not uncommon to find borrowers and their children who have been forced to become indentured labourers for feudal landlords as they struggle to repay debts that were often taken out many years ago.

Lendwithcare in the Philippines | Stories from survivors of Typhoon Haiyan

Tracey Horner, Head of Lendwithcare, has spent the last 14 days visiting lendwithcare entrepreneurs in typhoon-affected areas of the Philippines. Below she retells the stories of just some of the entrepreneurs she met ...

Lendwithcare entrepreneur, Anecito Rivera, before Typhoon Haiyan

More from Lendwithcare in the Philippines | The impact of Typhoon Haiyan

Day 12 and Tracey retells the stories of the Lendwithcare entrepreneurs she has met whilst in the Philippines ...

I had to accept that we were not going to get to Leyte or any of the other worst affected islands due to the bad weather. There has been an area of low pressure over the Philippines for the last couple of weeks which has been causing constant rain and high winds and severe flooding in some areas. 

CARE/Peter Caton

Day 8: "How is the Philippines coping after [Typhoon] Haiyan?"

Tracey Horner, Head of Lendwithcare, is still battling the elements in the Visayas (the Philippines) to find out more about the impact of Typhoon Haiyan on local businesses and livelihoods.

Most typhoon affected said they were just thankful they still had their loved ones. Feel inspired by their courage.
— Tracey (@traceymohabir) January 17, 2014

CARE-ACCORD distribution of household items in Ormoc

Philippines Diary - Update from the field by Tracey Horner

Update from a field visit in the Philippines by Tracey Horner, received on Tues. 14^th Jan., 14:04 London time.

"I finally arrived in Manila over 24 hours after I left my house. The Manila traffic is truly appalling during rush hour, which seems to last for much of the day. It reminded me of the fab BBC Programme "Toughest place to be a...", which featured in one episode a bus driver from London living in Manila and taking over the job of a 'Jeepney' driver for a week.  Funnily enough, the security briefing I received from the CARE office said that staff are not allowed to travel in Jeepney's due to safety concerns!  I ended up commuting back to the office in what Filipinos call 'tricycles', which are like a motor bike with a side car.  These are the same vehicles that Lendwithcare is helping to fund, with loans to some drivers who want to convert their 'tricycles' to less polluting LPG gas.  More details to follow next week when I meet with the company 'Clean Engines' to discuss further funding."

Tweet from Tracey on the day she arrived: