Temwa is pleased to announce that a new member of staff has joined the team in Malawi to manage our new Microfinance project, recently launched in partnership with Deki.
This project offers a uniquely personal and easy approach to microfinance by allowing individuals around the world to invest as little as £10 in borrowers hoping to generate income within their communities.
Overseeing these micro-finances will be Mr McSamuel Phinde, who once worked as a agriculture extension officer for the Malawian government is experienced in working with NGO’s and giving loans to small holder farmers.
Mr Phindes extensive agricultural knowledge as well as his prior involvement in Microfinance’s is why he was identified as top candidate for the position.
He will be moving to Usisya next week to begin meetings with village headman who have already been working within their communities to inform village members and discuss the project.
McSamuel will then be carrying out meetings with particular individuals looking to start up their own businesses. The first group of microfinance candidates will be selected by early August.
Each chosen candidate will be assigned to committee of other candidates who will then help to self manage the group. Depending on the business venture, one committee member at a time will receive a loan whilst the rest of the group encourages them to pay it back so that they then will have their turn.
This will make it possible for those previously denied access to finance to set up small businesses and work themselves out of poverty.
We look forward to officially welcoming Mr Phinde to the team and are so excited to use his skills and experiences to help in making the new Deki microfinance project a big success.
Watch for new updates on the progress of this project in the coming weeks. More information on our Fairtrade Microloan project.