We empower parents through business training and micro-loans
Our microfinance programme targets parents in Kibera who are surviving day by day. Looking for casual work – washing clothes, sweeping streets or labouring on construction sites for something small to meet the needs of that day. Their incomes are small and inconsistent; it is hard to put anything aside to save for the future when the needs of today are pressing.
The Turning Point Finance Programme trains parents to run a successful business and provides small interest-free loans to help them set up a small enterprise in Kibera.
The parents form groups of five to guarantee each other’s loans and for support as they face the challenges of running their own businesses. Our staff continue to coach the groups as they repay their loans and access larger loan amounts.
Our aim is to be a bridge.We want to see parents move from a place where they have no business, no savings and very small and erratic incomes to a place where they can run their own business. A place where they can provide for their families and save for the future. Where they have the confidence to access financial services from formal banks and microfinance institutions.
Rose began her small business with only Ksh2,000 (£15) and now can stock up to Ksh8,000 (£55) worth of vegetables. She generates a profit margin of nearly Ksh4,000 (£28) per week. This means Rose has enough to pay her children’s school fees and house rent and feed her family, with a little extra to save for the future.
She says there are times when the business struggles and her profits go down, but it can’t kill her entrepreneurial spirit. Her business training has helped her to identify new opportunities andfind new solutions to her problems.
Rose says, ‘’If today I can feed, clothe and save something for me and the children to use later, I thank God who cares for us’’
Rose speaks of how sad she was before getting her first loan to start her business, life was a daily struggle. Today she is a happy businesswoman with a growing business thanks to our microfinance programme and her own hard work.