microfinance Archives | HOPE International

“In 2017, when I joined HOPE Congo, I faced some challenges. One of them was the absence of insurance for my taxi. … My vehicle was in poor condition, with an engine problem,” reflects Barrot Nzingoula.

In the Republic of Congo, owning a reliable vehicle for a taxi business is often considered a promising way to move out of poverty. And the industry is growing quickly. By 2029, the number of individuals working in this business is expected to increase. But Barrot’s prospects didn’t seem so promising: “The future seemed bleak.”

There are three houses to the right of Ruslan’s home—and all of them are empty.

Leaving his hometown in Moldova was a real possibility for him too. While Ruslan hoped to work locally as a ploughman to support his family, opportunities were limited. Continue Reading…

Bosco Nsabimana, a father of eight children and the owner of a wholesale crop business in Rwanda, had big dreams.

He dreamed of expanding his business while empowering his community financially, spiritually, and emotionally, but there was a problem. The only microfinance institutions he was familiar with didn’t align with his ambitions.

Coupled with Christ-centered financial services and community, underserved men and women experience restored dignity and spiritual, personal, social, and material transformation

Did you know that farming is one of the most effective jobs for fighting poverty? According to The World Bank, growth in agriculture is two to four times more effective in raising the incomes of families living in poverty, compared to other sectors.

At HOPE International, we believe that equipping farmers in underserved areas around the world is an integral part of the solution to many of the world’s most pressing needs surrounding poverty:

Hunger—800 million people go to bed hungry every night*
Malnutrition—45% of deaths in children under 5 are related to malnutrition*
Financial services—1.7 billion people don’t have access to financial services that could help them invest in their businesses, save for the future, and provide for their families.
Unemployment—Farming creates jobs and means of productive income for millions of families.

“Any business is a challenging one right now in Ukraine.” -Serhii, a farmer in western Ukraine

When Russia began its full-scale invasion of Ukraine in February 2022, Ukraine’s economy shrank by about one-third—the largest annual fall in more than 30 years of Ukrainian independence. 18 months after the war began, Ukraine’s economy ministry reported that their gross domestic product grew by 2.2% year-on-year in the first seven months of 2023.

This is welcome news, but the stark reality remains: It’s challenging to do business in a country at war. Continue Reading…

In 2010, Small and Micro Enterprise Program (SMEP) Microfinance Bank, a Christ-centered microfinance institution serving families in Kenya, celebrated a major distinction: It became the third deposit-taking microfinance bank in the country to be licensed and regulated by the Central Bank of Kenya. But along with its approval, the central bank issued one caveat: SMEP needed to add investors to its ownership pool.

It sounded like a simple request—yet it proved to be anything but.

Archives For microfinance

HOPE Intl

HOPE Intl

Barrot’s story: how a taxi driver turned around his family’s future

HOPE Intl

HOPE Intl

A brave decision to stay—and invest in community

HOPE Intl

HOPE Intl

Bosco has created 500 jobs—and he’s just getting started!

HOPE Intl

HOPE Intl

How training farmers in agriculture is fighting poverty

HOPE Intl

HOPE Intl

The challenges—and opportunities—of doing business in Ukraine right now

HOPE Intl

HOPE Intl

Expansion in Kenya: an answer to 12 years of prayer

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