Women's Microfinance Fund Project
The Women Microfinance Fund is a vital initiative aimed at empowering women through financial literacy, savings, and money management. By providing structured training and resources, we equip women with the skills they need to manage their finances, make sound financial decisions, and build sustainable economic opportunities.
Our focus is to offer training in:
- Financial Literacy: Teaching women how to manage money, set budgets, and prioritize their spending.
- Money Management & Bookkeeping: Helping women understand how to track income, expenses, and maintain accurate financial records.
- Savings: Encouraging the practice of saving regularly, building financial security, and creating opportunities for future investments.
Empowering Women through Microfinance:
In most of our local communities, women initially engaged in informal lending practices, borrowing money from each other in a disorganized manner, leading to misunderstandings and conflicts. In 2013, Kar Geno took a bold step to formalize these lending practices and launched the Women Microfinance Fund to bring structure, transparency, and fairness to the community.
The Fund has become a pillar of support, offering women the opportunity to:
- Save money regularly, earning shares proportional to their contributions.
- Borrow funds at reasonable interest rates, with the opportunity to grow their savings and access larger loans for significant projects, such as home renovation or purchasing livestock.
- Record transactions accurately, thanks to the bookkeeping training provided. Women take responsibility for managing their financial records, ensuring transparency and trust within the group.
The Fund operates through table-banking meetings, where women gather in one member’s home to conduct formal, organized meetings. These meetings ensure that all transactions are documented, loans are issued and repaid, and the interest is reinvested into the fund to benefit the women who contributed.
A Model of Cooperation and Unity:
Through the Women Microfinance Fund, women are encouraged to collaborate, not just for financial gain, but for mutual support and community-building. The Fund has grown into a cooperative effort, with members coming together to fund projects like purchasing chairs for rent during special occasions such as funerals and parties. The profits from this venture are reinvested into the fund and distributed at the end of the year, creating a bonus for all members.
What started as a small initiative has blossomed into a strong community of women who know they can count on each other in times of need. The group’s spirit of unity is reinforced by shared experiences, regular meetings, and collective achievements. Each meeting ends with a treat and a song, as they celebrate their successes and wish each other blessings and love.
By joining the Women Microfinance Fund, women are not just gaining financial independence—they are also building a network of support that provides safety, strength, and solidarity in their journey toward empowerment.
Join us in supporting women’s financial independence and growth. Together, we can create lasting change in Mabinju and beyond.
