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Many of the economic strengthening programs Global Alliance for Africa implements with its partners in Sub-Saharan Africa focus on micro-lending and microfinance. Global Alliance provides funding and training to members of cooperatives or community-based organizations that take care of and support OVC so that members can create and/or expand their small businesses and increase their income. Loans can range from $50.00 - $5,000.00.
Businesses include: hair salons, butchery stores, restaurants, agricultural cooperatives, posha mills, pig-rearing cooperatives, candle making, school uniform manufacturing, green groceries, linen manufacturing, and small kiosks. Global Alliance provides technical training in the following areas: how to establish a business, market identification, how to create and use a balance sheet, understanding profits and savings, opening a bank account, etc.
The goal of providing small entrepreneurs with funding and training is to increase income and, in turn, provide shelter, food, education, access to health care, psycho-social support, and legal services for OVC that live in their households. Our baseline survey and annual report from just one area where we have implemented a micro-lending program has indicated that the majority of households have increased their income substantially and have directly benefited OVC in the following ways: increased consumption from 1 meal to 3 meals per day, payment of school fees and uniforms for OVC, and payment for OVC access to health care. Plus loans repayments are over 98%.
Our innovative, comprehensive, integrated micro-lending model not only strengthens communities and households, but provides sustainable support for OVC.
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