Giving Compass’ Take:
• Mastercard Center for Inclusive Growth currently has a three-year partnership with African Entrepreneur Collective, locally called Inkomoko in Rwanda. Through this partnership, refugees are able to utilize entrepreneurial skills and receive microcredit to rebuild their lives through sustainable employment.
• How does microcredit help grow sustainable businesses? Does microcredit work differently based on geographic location?
• Read about how some microcredit programs are actually falling short for women entrepreneurs in Australia.
Last year, the Mastercard Center for Inclusive Growth entered into a three-year partnership with the African Entrepreneur Collective (AEC), locally known as Inkomoko. In support of Rwanda’s Sustainable Development Goals, the aim of the partnership is to empower micro and small business owners – many of whom are refugees – by providing them with a number of tools for success including mentoring, technical support, capacity building, and direct access to affordable capital.
Here are some stories from the entrepreneurs in our program:
Lubingo Ibulisho Lubingo Ibulisho (47) in his carpentry workshop located in Gihembe Refugee Camp, Byumba, Northern Rwanda. Lubingo is a carpenter and refugee who fled conflicts in the Democratic Republic of Congo.“In Congo I was begging for money and did small businesses. UNHCR asked us what we wanted to learn and I said carpentry. Now, I make chairs, tables and doors – everything that could be made out of wood. I started my business 8 years ago and have four staff, two are my sons. Most of my customers are refugees, but I also make special chairs for the host community.
At the beginning, I was making very small products and I was not really generating any income. But, when I joined Inkomoko, they taught me how to improve my service, how to make better products with better quality and how to reach other markets. I asked for a loan to expand my business, I got more space and now I make more expensive products and hire more staff.
Read the full article about empowering small business owners by Sarah Glaswand Mastercard Center for Inclusive Growth
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