Microfinance Overview
WDB Micro Finance provides the operational engine of the Group by ensuring that the financial resources unleashed by the WDB Trust and WDB IH are made available to poor women in rural areas through micro loans.
Our programme targets the poorest women in the rural areas and provides them with training and micro loans with a view to increasing their household incomes. This is based on the belief that these micro loans not only assist in improving their family livelihoods but also ensures their active participation in their communities. The micro loans are for the purpose of facilitating income-generating activities. Our clients have used the profits they make for their children’s schooling, building better houses, providing better nutrition among other things.
The WDB Micro Finance (WDB MF) was established in 1991. WDB MF is a microcredit program replicating the world-renowned Grameen Bank philosophy of banking on poor women. It is registered as a section 21 not-for-profit company. Its registration number is 93/02500/08.
The core business of WDB MF is making credit accessible and available to rural women who are the poorest of the poor.
The strategic drivers of WDB MF are to:
• Disburse loans to poor rural women using a relationship based methodology, on a professional basis with the aim of supporting their self-development activities and improving the quality of life in their families
• Build women’s financial knowledge and business skills, through participation in the credit scheme
• Support technical, managerial, leadership and other skills, through training to enhance women’s income generating activities and productivity
• Strengthen community and women’s organizations and services by working with them in offering credit, training and technical assistance
• Support, assist and conduct research programmes which are necessary for the viability of projects and women’s advancement as a whole
• Share knowledge, expertise, experiences and information through coordinating with women’s and development groups and producing accessible and relevant material
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