Magumu Smart Angels Group
They live in Kiambu County in central Kenya, and their core business has been the sale of secondhand clothing at a local market.
Currently, they would like to expand their business by venturing into green energy products, specifically energy saving Jikos, that are beneficial to the environment and also income generating. Through their network at the grassroots level, they can reach many women and create more awareness about the usage of efficient cookstoves. They will also be able to transform their environment by reducing deforestation.
VEP has advanced them a loan to purchase 20 Firewood Jikos each, totalling to 180 Jikos. Each Jiko costs about $32 US and will be sold at $39 making a profit of about $8 per Jiko. With this profit and income from the clothing business, the ladies can be self employed and financially stable. Their income will be used to repay the loan and some profits will be ploughed back into the business to ensure sustainability.
Their dream is be the central point of sale for renewable energy in their region, and they hope to incorporate solars into their business in future.
More information about this loan
About Visionary Empowerment ProgrammeVisionary Empowerment Programme (VEP) is a nonprofit organization that empowers people to build their own enterprises through microfinance, training and other development services. In addition to providing loans to groups of borrowers, it works with established organizations to encourage installation of biogas digesters, solar energy products, clean cooking stoves and other technologies that reduce costs, poverty and greenhouse gas emissions.
This is a Group Loan
Loan tags help lenders find loans that match certain areas of interest. You can add up to 5 tags for this loan.
896View loans »
Success!! The loan was 100% repaid