D-2329

   Nigeria - Abuja

Revolving Micro Credit

$15,000

Micro credit in Nigeria has been identified as the best way of putting the destiny of rural women in their hands. This money will be used to enpower women in five to eight communities in Abuja rural areas. Rural Women Organisations that have been identified and sensitised will be used to disburse these funds. Ayenajayih Women Association, Gidan Mangoro will get two thousand dollars disbursed to them that will revolve around all the members of the association before the money is mopped up for upgrade or disbursement in another community. Like that we have over seven communities already and being sensitised. The way we do it: An Association ( for example of sixty rural members), we disburse like two thousand dollars to twenty women and each gets a hundred dollars. They bring ten dollars each month and the next two in the list takes. Like that it trickles down to all the women in the list. Whatever is collected at the end of each month is disbursed to as many women as it can take. Anybody that pays for eleven months has paid up. The eleventh month covers operational charges so that the fund stays intact. Prior to the disbursement, we visit the communities to know what businesses the funds will be invested in and sometimes we educate them on basic business ethics. We also get the participation of the community leaders to guarantee safety of the funds and crdibility of the women. My Club has done this directly but now we are arranging with a Micro Finance Bank (Future Growth Micro Finance Bank Ltd) to come in and help in the spread.

Primary Host Partner in the Project Country

Club: Asokoro

District: 9125

Primary Contact: Kanayo Chukwumezie

Email: sokanayo@yahoo.com

Check all projects from: [District 9125] [Asokoro Rotary Club] [Kanayo Chukwumezie]

Primary International Partner Outside the Project Country

We are looking for a Club partner. Click here to pledge support for this project.

Proposed Financing

Primary Host Sponsor Rotary Club/District

Rotary Club of Asokoro

$200

Additional Rotary Clubs/Districts

International Sponsor Club

$9,800

Amount requested from the Rotary Foundation

$5,000

Total

$15,000

Status and Progress Information

Dropped

This project has been dropped. This is probably due to the loss of contact with the Coordinating Club. Project listed for the 2013-14 Rotary Year.

Rotary Club of Asokoro has previously done a Micro Credit Project in Kpaduma in 2006 to 2008 Rotary Years. Last year, the Club decided to start Micro Credit again and make them Life Projects. It therefore disbursed about $1,500 to Ashijebwa Women Organisation in Kuyizhi community in August last year as a Club Project. It has also saved up to disburse to another community before the end of this Rotary year. The applied fund if available will enable us enter more communities because the lives of these women change and are transformed. From their testimonies the living standard is lifted with the micro credit. Also, they repay the money with much ease while at the same time living better life.

<17-Apr-12> System Entry
Creation of project page.

<4-Apr-13> System Entry
Project carried over to the 2013-14 Rotary Year.

<2-May-13> System Entry
Project dropped because it is being replaced by Global Grant G-446.