Wazee Foundation sponsors a registered Kibera microloan program providing small amounts of capital for an elder (Wazee) to start/expand a business. Most Kibera businesses operate within a “micro-economy”; people buy food, water, cooking oil, charcoal, even soap-- in daily amounts. Oddly, this means small amounts of capital can have big impacts. For example, a small loan to an elderly making and selling soap can increase her purchase of supplies, lowering her costs, and increasing her profit margin. It seems like such a small amount until you see Kibera’s micro-economy work; small amounts improve daily lives.
Wazee Foundation and it's partner organization in Kibera have dispensed 248 microloans to Wazee (elderly), averaging just $33 a loan. These small amounts of money might seem trivial to most people, but we've seen with our own eyes how the resilient and hard working Wazee recipients can take small amounts of just about anything and significantly change lives. Just a few examples...
Leonida Rabach Alaka (in cape) was one of the first microloan recipients and was loaned $62 to expand her Grass Mat business, which she did very well with and was able to hire her friend Glady Akello (pictured) to help. Gladys has since moved on to her own sardine business. Sadly, Leonida passed away in April 2016. Wazee staff were present with her the evening before she passed. We were honored to have known her.
Agnes Nyawira Muthoni received a $52.08 loan to expand her business of grocery and vegetable selling, growing it 10x as of July 2016. The income from the business has enabled her to take care of her six (6) grandchildren in all aspects including school, healthcare needs, food and clothing.
Rosalia Itieba Juba received a $31.25 loan to expand her business of selling paraffin, having grown it 4x in two years. When she first received the loan, she was not in good health but she has since improved tremendously health wise-- according to her it's because the business keeps her very busy and physically.
Another great example is a recent applicant Rona Miraho Madanyi, age 69. Her jewelry business does a lot more than you think-- watch the video of her and her granddaughter explain how their business makes a HUGE impact.
