Microfinance

On a hot, sunny day in Turiani, eastern Tanzania, Angelina, Jennifer and 20 other Maasai (African nomadic tribe) women led us down a dirt path in their village and proudly showed us 11 goats grazing in a grassy field. Three months earlier, they owned no livestock and relied on small trading for an income. Now, after twelve months, they had 35 goats, which they could sell for a reasonable profit. What changed? They decided to start a business together after participating in a financial literacy course.

On a cold, misty morning in Musanze, Rwanda, we followed Vestine, Beatrice and Asnat to visit their potato fields. We could hear the excitement in their voices as they talked about their Irish potatoes. “I took a loan of 100,000 RWF ($88) from BRAC to lease a small portion of land and also bought seeds. I am hoping to sell them at a good profit which will give me enough money to pay for my children’s school fees,” said Beatrice. “It is difficult to gather money during the time of harvest and also support the family. I was able to access the loan at a low cost. Now, I can grow more potatoes and make more profits,” chimed in her neighbor Vestine.

When the price of gas nearly doubled in her village in Rwanda, Umutoni faced a seemingly impossible challenge. How was she to feed her household of 13 family members? She realised she not only had 13 mouths to feed, but 13 minds to bring together to create a solution. Her husband, Vincent, is a mechanic. Her children are all studying science subjects. Umutoni herself is a university graduate who studied Physics. She sat her family down and explained the problem. “We need to think differently.”