WfZ PHLOGS

By wellsforzoe

Self Help Finance

There were many options today for pics, at the farm, roadblock, and teacher in service, but this is the most amazing.
The people at St John of God Services run a project for micro finance for the poorest villagers and we involve ourselves with pumps feeds and seedlings.
Today we visited this womens group in Doroba, miles from Mzuzu and centuries from the developed world to find 20 of the most fascinating business women I have ever met running their own bank and amazingly efficiently: I was and am awe struck.
They come together once a week, today in a disused cattle shed, to make savings, pay back loans with 20% INTEREST FOR 8 WEEKS!! and get new loans. There is no retained reserves, no bad debts, the money just goes round and round. The began in early January and wow, what a crew without computers, calculators or any of our sophisticated gadgets, just very poor, poorly educated spirited women.
I will add later but just to say we will soon assist with adult education and with their preschool.
What a story

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