A loan of $5,825 helped a member to purchase energy saving Jikos for resale.

Magumu Smart Angels Group's story

Magumu Smart Angels is a group of women venturing into entrepreneurship. They have been VEP members since last year and have each benefitted from a number of loans for self development. All of them are mothers with school-age children and their concern is financial security to ensure quality education for their children.
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.

In this group: Mary Wambui, Elizabeth , Grace , Susan , Salome , Lucy *, Anne , Esther , Lucy
*not pictured

Loan details

Lenders and lending teams

Loan details