HOME MAKERS was founded in 1995 by Margaret Ahmed with a fellowship of 6 women teaching 1-2 skills and the Word of God. Today, Home Makers can be found throughout 9 different states in Nigeria and several regions in the bordering country of Niger. Home Makers offers practical trainings each month in activities that can supply women with marketable items to sell. Along with the trainings, the women are also given talks on money management and budgeting, child rearing and healthy living practices. Home Makers's aim is to help train, educate, enlighten and empower these women for business management and for personal and social economic development.
HOME MAKERS focuses on several different strategies as well as a number of different resources that Margaret provides for the women. These include workshops and seminars, open dialogues or conversations concerning questions and/or frustrations, outreaches, micro-credit facilities, and Bible teaching and discussion. Each month at the workshops, Margaret has been able to teach a new business skill to the women. Some of the businesses these women may learn may range anywhere from bread making and candle making to poultry farming. They key to these businesses sustainability depends on the initial start-up cost and product's marketability. Margaret makes every effort to provide jobs that have a limited start-up cost (besides poultry farming) so that the women are able to afford any extra necessities involved in the beginning of a business. Enter micro-loans...
Two years ago, Margaret was given $1,000 to begin distributing loans to the attendies of her training sessions. She started with ten loans of $100 each. She charged 20% interest (which is 15-20% less than the local banks and money lenders). The first women to receive these loans were quick to return the principal and interest. After the initial microloans were distributed, Margaret has worked to develop a system that allows her to use these loans to be recycled and passed down to more and more women. The success rate of this system can be seen through the statistics: as of January 2007 more than 65 loans have been distributed with a 97% successful return rate.
3 comments:
Who was it that originally taught Marguerite Abdulla about Micro-lending?
Margaret Ahmed was attended a management training school for her university training...but I believe many of the micro-credit, microlending ideas were her own. Once Morgan came along with some funding, she was able to actually put it into practice.
The ordinary people of Africa, for example Nigeria have been more or less forgotten by their own govt over the years even till this day. To have people come up with a way to help others support themselves is great for Africa.
The people of Nigeria doesn't ask much from the govt but an opportunity to live like a normal human being and which I sincerely belive the govt owes it's people.
No doubt in my mind Ms. Ahmed's initiative will not only yield huge dividends but most importantly, it will save lives. I am full of praises to her and all of you that have contributed and have been part of this amazing program.
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