Development for Rural Women and Children in Boyo
Number of people taking this action: 50-250
On the 25th of September we shall mobilize women in several communities in Belo Sub Division, to explain to them how they can make independent financial decisions, and secure a good education for their children through Hands on Business Training and Table Banking. Groups of women who have benefitted from our Hands on Business Training program and Table Banking shall be dispersed to talk and explain the program to other women, and propose possible ways on how they can embark on the same. Below is a sample of what we shall be explaining to rural women on that day with the objective of helping them to be able to make independent financial decisions and also commit themselves to educating their children.
"Table Banking is a group funding strategy in which members save once per month and the money isimmediately borrowed by the members. Table Banking has the following features: Fund is owned by thegroup; the group set rules and regulations for lending and repayment; members pay interest on the loanwhich will contribute to higher availability of capital to the group. In order to start with Table Banking itis necessary to place initial capital that will allow you to buy a defined amount of times what you havesaved. This model constitutes itself to a virtuous cycle: 1) it gives access to capital to women who wouldnot have the means to get it. 2) Women participating on the Table will agree on define the participatingrules on how to self-distribute the capital to fund the projects of all the participants. 3) Women return theinvestment with a small amount of interest that will enable new projects be funded. 4) Women cancontribute to increase the capital of the group; this will give them access to a bigger amount of funds toborrow and contribute to scaling up the group’s capital to increase together the projects ambitions. "
The events shall be showcased on:
Facebook page: https://www.facebook.com/Goodness-and-Mercy-Missions-241832935928101/
You can also see our sites: http://www.gmmafrica.org
1 No Poverty
4 Quality Education
10 Reduced Inequalities
17 Partnerships for the Goals
Lovely Mothers Group Jinkfuin,
Gardening Ladies Djichami
Know Your Neighbour Group
Faithful Sisters -Jinkfuin
Ndongtu Women's Group