Maridadi Women Group
Currently on average each member spends USD1.3 on charcoal everyday. The loan will enable them purchase high efficient cook stoves- ECO ZOOM that will save them up to 50% of their daily consumption on charcoal. These cook stoves also reduce smoke and carbon emissions from the charcoal thus creating a better and cleaner environment for their families.
The families will be able to save USD 0.65 daily from the reduced consumption on charcoal. This translates to USD234 every year for at least 5 years (lifetime of the cook stove). This money will be saved and used for other needs like paying for their children's school fees, paying rent and making their lives better.
More information about this loan
Living Goods is a non-profit organization headquartered in California with offices in Uganda and Kenya. Living Goods creates and trains networks of micro-entrepreneurs who go door-to-door teaching families how to improve their health and wealth in developing countries.
The entrepreneurs sell products like simple treatments for malaria and diarrhea, fortified foods, safe birthing kits, clean cook stoves and solar lights. These entrepreneurs also pass on important health information, and are able to improve their own health and wealth through selling the products.
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