Changi Youth Group
Since Shamata is not connected to the electricity grid, the group saw an opportunity during one of VEPs promotional drives and decided to partner with VEP and establish themselves as a solar lamp supplier in that region. They plan to stock solar lamps that are accredited by Lighting Africa as quality, and which are also supplied by VEP and hence have a sustainable business.
VEP has loaned them start-up capital and is also helping them in promotion and marketing.
It’s expected that the business will pick up in no time as the community is already appreciating the benefits of using solar energy instead of kerosene. Peter, the Chairman of the group (the first person standing on the left side) explains that so far the group members are the first beneficiaries of the lamps and they no longer buy kerosene.
His wife who has suffered using dim light for 2 years is now very happy and is also encouraging other women to buy the lamps. Peter and his family can now enjoy improved health with cleaner lighting and they also save the money that was previously used on buying kerosene. He has opened up an account and started saving the earnings from the sale of the solar lights which he says will be a financial security for his family.
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
In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.
Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.
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Success!! The loan was 100% repaid