Archives For rebuilding dreams

K-shaped recovery

The United States is currently experiencing what economists are calling a K-shaped recovery. This occurs when, following a widespread and significant economic dip, certain portions of the economy begin to move toward economic recovery, while others stagnate or fall even further. A K-shaped graph helps explain why recovery following the pandemic seems to be occurring unevenly—while some industries (and people) are returning to normal or even improving, others are experiencing the very opposite.

This phenomenon seems to be occurring globally, as well.

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Carrole Moussengue

2020 was the most challenging year in HOPE International’s 23-year history. Although we felt the strain of the pandemic on HOPE’s operations, the hardest part was witnessing many of the men and women we serve endure illness, loss of life, overwhelmed health care systems, shortages, halted businesses, and falling income.

Microfinance institutions (MFIs) across the HOPE network rallied to assist struggling entrepreneurs, but with markets closed and commerce grinding to a halt, the outlook was grim for both MFIs and those we serve. We began to see a chain reaction play out across our network’s operations:

COVID-19 hits, mandated lockdowns instated, businesses close and/or sales decrease, household income lost, loan repayments missed

But today, we’re excited to report that we’re seeing encouraging signs of recovery in HOPE-network microfinance institutions. We celebrate these because they indicate not only that our operations are returning to health but—even more importantly—that the families we serve are seeing their lives stabilize. Thanks be to God! Continue Reading…

Earlier this year, a temporary shutdown to stop the spread of COVID-19 restricted the grocery and grill business that Jofrey Mbema (pictured) owns in the Republic of Congo. With his income suddenly and unexpectedly cut, Jofrey’s greatest concern was how to provide for his family. But he also wondered how he’d manage to repay the business loan he’d taken through HOPE Congo. Continue Reading…

A self-described “serial entrepreneur,” Anthony Barton has always had a keen eye for unmet needs. As a child, he trudged up and down sandy beaches in Malibu selling ice cream to hungry surfers. In college, he noticed the mess generated by fraternity parties on campus and started a business cleaning up the trash left behind. After graduation, he noticed that a lot of bars and restaurants could also use a good cleaning. Knowing he had the experience to do something about it, Anthony launched his first wildly successful cleaning business—the A Specialist.

Several years ago, Anthony and his wife, Yolanda, sold the A Specialist and together launched a new cleaning business called SAFE Kitchens, with the goal of “creating a culture within commercial kitchens that is as risk and worry-free as humanly possible.”

Then COVID-19 struck, and 95% of their business evaporated as their clients in food services, aviation, and film shut their doors. Continue Reading…

We asked several leaders from around the HOPE network—Rwanda, the Dominican Republic, and Paraguay—to share how they are coming alongside the men and women we serve as they recover losses related to COVID-19 lockdowns and reopen their businesses.

Rwanda

Hear from Diane Uwamahoro and Isaie Ndayizeye, co-directors of the HOPE Rwanda savings group program.

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