Official Blog

We just made several new microfinance investments, which we would like to share with you. We really hope that you like the idea and maybe even follow suit. This time, we invested in five different projects in Tanzania, Nicaragua, Ecuador, Kenya and Ghana.

The first investment we’d like to share with you is the business of Luis Alberto Vera Mite from Ecuador. The 27-year old has a three wheeled motorcycles, so called tricimotos, in the central market of the tourist area Playas. He has been bringing market customers to their homes by motorcycle for five years by now.  Now he would like to buy bodywork for the rear of his motorcycle to draw the attention of more customers. In the future, he’d like to have his own house and help his parents have a better life.

We also invested in Upendo Abdallah, mother of three from Tanzania, and her businesswomen group Mbogo, who are running their own charcoal business. Upendo wants to use the loan to increase her stock of charcoal so she can meet the increasing demand. Her dream is to open up her own charcoal shop one day.

Another bid we made is for Marlon, a young man who has established a small business selling technical accessories in Nicaragua. He started off just selling movies and music with savings from his job as a mason. Today he runs his own business, with the help of his wife. With the loan he will buy cellular accessories, TV remotes, calculators, movies, and music to augment his stock, improve his sales, and be more profitable.

And finally, we made two more investments in Ghana and Kenya: We supported Isaac and his business Rwanyambo Electronics to increase his stock of electronics and mobile phones, and Vivian who produces colourful African clothes. She needs to buy more fabrics and dyes, wants to engage more workers and even kick-off some advertising for her business. Vivian’s products are distributed to retail outlets in the major cities of Ghana. Customer demands for her clothes are increasing due to recent, nation-wide promotions of African wear.

We wish all entrepreneurs best of luck and hope that our bids help them to successfully develop their businesses!