Over 40% of people living in Malawi live below the poverty line. Most of these are women.
Around 80% of Malawians live in rural areas, with smallholder agriculture being the main economic activity. However, many people can’t afford to buy seed and fertilizer, and therefore have problems accessing the necessary farming products. As a result, harvests can be modest because of the use of recycled seed and a lack of fertilizer.
With social and economic difficulties typical for the region, our microfinance services meet the needs of rural communities.
We currently operate in 14 of the 44 World Vision community areas. Growth is our priority so that we can achieve greater than 100% operational sustainability.
Our stated goals include:
- Develop and introduce new products to clients within World Vision target areas
- Open five additional branches in the next three years, servicing 80% of all World Vision community areas
- Develop the innovative loan tracking system and link to all branch offices
- Become licensed as a deposit taking institution
Winifrida cares for eight children, two of whom are orphans. Winifrida lacked the means to develop her farm and she produced poor harvests. With little food, her children were left malnourished and often in hospital.
After taking a loan for US$240, Winifrida developed her farm and quadrupled her production. She can now afford to buy her children the things they need.
Masutano Mulaga joined our organisation in August 2010.
Our microfinance institution has a board made up of eight individuals from World Vision Malawi, VisionFund International and private sector professionals. Our CEO leads the management team.