As we approach the six-month milestone after receiving the generous grant from Western Union, I am happy to report we have again achieved a ninety-nine percent repayment rate. This grant has allowed Kageno to expand the micro-loan recipients almost threefold – from a starting group of thirty to a new group encompassing eighty-six borrowers. Considering the completion of the first loan cycle is near, we look forward to further expanding the size of our micro-loan participants once the first group of borrowers submits their final loan payment next month.
From our weekly meetings it is very
obvious the next group of borrowers is excited to receive their loans and begin
their businesses. Recently I met
with the three village committee elders to review the business plans for those
recipients who have been approved for their loans and am encouraged by the hard
work and determination exhibited by future borrowers.
In an attempt to instill important business ideals and values into the borrowers, Kageno is in the process of training the village committee on pre-selected topics. Alphonce is currently busy attempting to secure professionals from the community who would be willing to train the village committee. The micro-loan recipients selected topics they wanted to learn more about ranging from business ethics to health and sanitation.
It is Kageno’s hope that once the village committee becomes knowledgeable about the topics, they will be able to pass this knowledge onto the borrowers, thereby expanding the reach of the important topics. Once a weekly curriculum is set up, Kageno will be able to increase the scope of the business topics covered, and ideally will sow the seeds for the success of future business endeavors. By training the borrowers on health, sanitation and disease prevention, Kageno is directly benefiting the larger Rusinga Island community and guaranteeing a better and more prosperous future for residents.
Michael
Kageno Kenya Volunteer
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