In 2013 FOMO embarked of a new micro finance support project.
The basic idea is to provide supported financial services to individuals within a Group who have little or no other means of access to credit or other financial services. FOMO’s Micro finance targets women headed households in the rural areas of Malawi. More specifically Micro finance is the provision of small loans, to undertake business ventures.Read More Click Here
The first group of 100 women successfully paid back their individual loans well within the agreed time. The individual ventures mainly consist of buying and selling produce, personal and household items.
Following the success of the first loans FOMO has now embarked on a rolling programme of small loans, increasing the amount loaned and increasing the number of participants to 120 or as funds allow. (More funds, more people)
When individuals without capital are presented with the opportunity to borrow, they can start making personal choices that will potentially help to support their families , and taking advantage of FOMO’s micro finance loans can be a great start.
Even a small working loan can be enough to launch a small business in a Malawi that could help the benefactor pull themselves and their family out of poverty, improve their health and children’s education opportunities.
I wish to support this worthy enterprise to empower women in business. How ? Click Here. Even a small amount to the fund will make a difference.