A total of 142 loans has been disbursed to date, current active clients add up to 15, 7 being females and 8 males. The current average loan size was $550. $ 8 500 was disbursed in the month of October 2019.
Currently the Trust is operating with one personal as a way of cutting down the operations cost.
In October the trust operated at breakeven point. We have collected all the money we disbursed the targeted market was small vendors in Highfields high density suburb, In the month of October we trained our clients on records keeping, importance of record keeping and how best to manage record keeping.
The target market/clients will remain in Highfields high density suburb, the market consist of small entrepreneurs in different sectors of the economy. The market has a potential to carry a loan book of USD20 000.
Two big microfinances which were operating in the same market has closed their operations ailing to the continued economic hardship in the country.
Risks which have affected us are mainly business risk which is failure to meet targeted/expected returns and exchange rate risk which is the continued loss in value of the local RTGS dollar against the USD dollar.
We have managed to mitigate credit risk.
Thank you for your continued support, below are pictures of some of the client’s business being funded.