Zambia
Financing granted
Loan of €500.000
(equivalent in local currency)
Foundation partner
since 2020
*Outstanding amount at grant value
Partner website
Context:
With a GDP of 25 billion USD in 2018, Zambia is the 4th largest economy in southern Africa, behind South Africa, Angola and Zimbabwe. Agriculture accounts for around 20% of gross domestic product (GDP) and occupies a central place in the economy. It employs more than 50% of the workforce.
Institution:
MicroLoan Foundation Zambia (MLF Zambia) is a social microfinance provider established in 2008. Its activities are overseen by the MLF UK. MLF Zambia’s main activity is providing low-income women living in predominantly rural areas of Eastern, Southern and Central Provinces of Zambia with affordable business loans and training.
Impact:
MLF Zambia’s mission is to significantly reduce the depth and breadth of poverty in the communities within which it operates. It does this by lending money to groups of women to help them build sustainable businesses, and by providing meaningful training and on-going mentoring support. The institution lends exclusively to women in rural areas.
News
