2) Economic Empowerment
Solutions for economic troubles are hard to see in poverty’s darkness. But hope-filled leaders are able to cast a bright vision, helping their communities gain perspective for what could be. Possibilities Africa puts seed money in a savings fund. Individuals in these villages, despite their poverty, are encouraged to save money in this fund and when they do they are paid interest. Once they put money into this savings fund they are able to borrow up to three times what they have saved to start a small business.
Possibilities Africa also trains the recipients in the business they choose. They learn how to make a business plan and carry it out. The micro-loan funds are repaid and used as revolving funds in the same or other communities. Local support and accountability has proven to be very effective in making sure these loans are repaid, the repayment rate is nearly 100%.
Through Possibilities Africa people are developing businesses such as: animal and vegetable farming, solar lighting, shops and other economic projects in local communities throughout Africa that alleviate poverty. Since 2012, over 8,000 small businesses have started. We have seen people make the jump from waiting for the next handout to believing they are made to do more. When this happens, they gain a sense of God’s purpose in their lives and their value is discovered!
To illustrate this, meet Josephine—a woman with a God-sized story. In 1999 Josephine’s husband died leaving her with four small children…
Want to read the rest of Josephine’s story? Click here.