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Meet the Women

Petronella

Samfya, Zambia

Profession
Microfinance
Business
Mpika Microfinance
Country
Zambia
partner school
Camfed International and the University of Cambridge - Cambridge Assessment Group and Judge Business School
The experience from this program, challenges and success make me realize how important it is to have a dream and to strive towards it, especially when you are helping others.

Business Overview

With a group of my 10,000 Women classmates, I started a "village bank" for women in a rural town in northern Zambia. We did market research to see if this would be welcomed in the area. We began to spread the work about the "village bank" as we called ourselves and had a huge amount of interest. We received a grant chose 8 women to receive roughly $38.00 to be paid back over the next five months.

We are so happy as all of the women have now paid back the loans and we are getting ready to give out loans to 13 new women. The women that we gave loans to have told us what difference the loans have already made in their lives. One woman said that she and her family can now afford to eat more than one meal a day as her business has now improved. Another has been able to pay for her son's school fees as a result of the positive effect on her business.

Challenges

The main concern with our business is whether the loans are paid back and on time. Luckily has not been an issue for us and some of the women even paid back the loans early.

Results

We have learned so much as a result of the training - good financial skills and the importance of team work. It is important to have good communication skills and record finances accurately especially when collecting money from the women.

Future Goals

One day we hope to start our own NGO. The experience from this program, challenges and success make me realize how important it is to have a dream and to strive towards them especially when you are helping others.