Grameen Foundation : Where we work : Sub-Saharan Africa : Nigeria : Riskatu's Story
A Mother Finds a Way to Pay for her Children's Education
Riskatu's Story
Riskatu is a mother of eight creating a better future for her family. After 30 years of selling charcoal and a variety of food staples from her small street side shop on the bustling streets of Jos, she was ready to expand her business with her first loan from Grameen Foundation’s new Nigerian partner, Development Education Center (DEC).
Riskatu learned about DEC when the leader of a local borrowing group and fellow shop owner approached her and explained how a small loan could result in the growth of her business. In the few months after receiving the loan of 10,000 Naira ($85 USD), she is already seeing a huge increase in her daily earnings. When asked what she will do with her growing income, she replies without hesitation, “I am growing my business for my children to continue education.” Demonstrating her astute business sense, she continues that she is planning for a larger second loan, so she can diversify her inventory to include firewood in the cold months.
Grameen Foundation : Where we work : Sub-Saharan Africa : Nigeria : Riskatu's Story
Grameen Foundation uses microfinance and innovative technology to fight global poverty and bring opportunities to the world's poorest people. With tiny loans and financial services, we help the poor, mostly women, start businesses and escape poverty. Our global network of 55 microfinance institution (MFI) partners including our Growth Guarantee partners has touched more than 34 million people in 24 countries. In addition, we introduced and now sustain technology initiatives (Mifos and Village Phone) in Cameroon, Kenya, Rwanda, and Uganda, bringing our total country outreach to 28.
+1-202-628-3560 www.grameenfoundation.org
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