A32. Micro-businesses in Zambia

Activities of RISE-RWANDA Nov 2024

▪Street vending activities contribute to the livelihoods of millions of people and to national wellbeing at large, especially in developing countries.

▪ Arrest also and punish their clients. 10 dollars of fine.

▪ Liability rather than a potential.

▪Many women on the streets are single mothers who lack formal jobs and enough financial capital to start official business

▪ The only available and affordable option for these women is to walk around the streets with small baskets full of fruits and vegetables on their heads trying to feed for their families.

What about men?

▪RISE-RWANDA Ltd target the Former Street vendors in Kigali City and aims:✓Provide small loans to the women who already joined the constructed market around Kigali at low interest

✓Providing the opportunities to those women, to become stable financially in the markets and have a regular income and survival of their families.

✓To encourage others who remained in street to join the market.

✓Boost the initiative of the government to eradicate poverty and job creation.

Different steps

1. Consultation of the market leaders

2. Through the market leaders, we obtained different groups called Ikimina(a group of 10 people who contributes 1 dollar per day and give 10 dollar per day to one of them and so on.

3. We have taken 2 groups and discussed with them to know which one are limited financially.

4. On the first week meeting, all of them responded that they needed the money

▪On the second week after explaining that the money is a laon that will be paid weekly, the number of them reduced(fear of taking loan)

▪Only 10 womens out of 20 were the one interested.

▪We trained 10 women for extra 3 weeks to empower women with the skills related to loan management.

▪Out of 10 women trained, 3 of them attended 3 trainings and fulfilled the conditions

▪The remaining 2 women attended twice and 5 attended once, we are interested in other 2 women who attended twice and will have to attend the last session.

▪To ensure that the women receiving loans view them as a business opportunity rather than aid, we select, conduct training, and encourage a growth-focused, responsible mindset.

Establish clear loan criteria

▪Having an existing small fruit or vegetable business.

▪Basic interactive questions on current income, business goals, and repayment understanding.

▪Discuss their business activities and ensure they’re committed to growth and repayment.

Educate on loan versus Aid

▪It is not a gift but an investment they need to return.

▪We showed how the loan can help grow their income and outline the responsibility to repay it.

Conduct business training

▪Budgeting

▪Simple accounting to help them manage income and expenses.

▪Set prices, and maximize profits.

▪Help them set goals for income and business growth so they understand the loan’s potential benefits.

▪Continuous monitoring

▪Monthly meetings to discuss progress, challenges, and ways to stay on track with repayments: Jean Damour arakiza, Simeon SEZERANO.