Africa on the Ball Launch New Microfinance Pilot Programme in The Gambia
Africa on the Ball are delighted to officially announce details of our microfinance pilot programme in The Gambia. Launched under the auspices of the name ‘Naburinka Foundation’ (translating as heaven of wealth), Africa on the Ball will be supporting 12 female entreprenuers during the three year pilot programme.
Female entrepreneurs are invited to express their interest in benefitting from the programme which includes receiving financial literacy courses and support from the Foundation in Gambia. The programme will enable them to provide sustainable sources of income for their families and will use the model of microfinance as proven to be a good means of tackling poverty by groups such as the Grameen Bank.
Women will be able to apply to borrow a sum (to be determined based on feedback from interested individuals) and repay over three years with minimal interest (5%). By joining the programme, they will be agreeing to obide by the Foundation’s ’10 Comitments’ which beneficaries subscribe to in terms of how their profits from the loan and their business are spent (to benefit their families and their education).
Co-founder of Africa on the Ball Andrew Jenkin said of the launch, “this is a really exciting time for the charity and we are delighted to be supporting these individuals over the course of the next three years. We look forward to learning as much as we can from it and should it work as we hope it will, will seek to expand it within Gambia and potentially more regions of the continent.”
Those interested in benefitting from the pilot programme should email Africa on the Ball (firstname.lastname@example.org) including their name, phone number, address and business proposal by the 1st of August.