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Monday, July 26, 2010
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Malawi Since 2002 the MicroLoan Foundation has been working in Malawi, developing a microfinance model to suit the African culture and situation. Only 1% of Malawians currently have access to any form of commercial credit, and just 3% have access to savings services.
MicroLoan now has 20 branches which cover almost the whole of Malawi in
terms of catchment area, and employs over 100 local staff. We have made over 50,000 loans to more than 20,000 clients since inception, helping to
give a brighter future to over 120,000 people.
Borrowers are organised into groups of on average 15-18 people, with each member running their own project but benefiting from the support of all the other members of the group. The women who receive the loans use the money to start a wide range of businesses, including vegetable farming, fish-selling, knitting and sewing clothes, and running cafes.
Please note that you can currently sponsor groups at Dowa, Kasungu, Mzimba, Nkhata Bay and Ntchisi branches in Malawi. To do so, simply find a specific branch on the map above, click on them and then follow the link through at the bottom of that page. This will allow you to view all groups at that branch, and sponsor them should you wish to.
| | Statistics
Population: 14 million
Rural population (% of total): 82%
GDP per capita: US$256
Population below PPP* $1 a day: 21%
Life expectancy: 45 years
Human Development Index (Rank 1 - 177): 166
AIDS orphans as a percentage of all orphans: 57%
* PPP stands for Purchasing Power Parity. It is a criterion used to create an appropriate exchange rate between currencies.
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