MASYAP has begun to expand its microfinance scheme to some of the youth we work with; in total, 26 girls will be involved in the pilot scheme. At the beginning of this week, 17 girls from around Blantyre received microfinance training. They were taught the basics of business, with topics like profit and cost being introduced, as well as being taught how to keep track of and repay their loans.
The girls were extremely enthusiastic; fully involving themselves in the training, so it looks like the scheme is off to a promising start. At the end of the second day of training loans of around $25 were given to each of the girls. As with the main scheme, these will be paid back monthly over a period of four months, before further loans are given.
9 more girls from Makwasa will be trained next month.