The Wise Women of Eldoret

Everyone in the charity world is throwing around the term “microfinance” as the way to help change a poor community. Microfinance principles are based on investments made in the community through small, or micro loans, and then letting the community help themselves through the creation of jobs. Microfinance is something CRF has been dabbling in for the past 5 years, and in those 5 years we have learned what types of projects work the best. It is especially tough in Africa where the loan default rate is very high in microfinance banking. To be successful in Africa, one has to understand the culture of money in Africa. Money is not saved in Africa, it is spent. If you have money… Read more »