By Katie Reed | September 5, 2024 | Blog Corporate social responsibility
As proudly female-led businesses, The Language Factory and the MicroLoan Foundation have partnered for well over a decade with a shared mission: to provide the poorest women in sub-Saharan Africa with the tools and skills to enable them to work their own way out of poverty.
This blog celebrates the incredible impact of the MicroLoan Foundation in empowering female entrepreneurs to succeed and build better lives for themselves, their families and their communities.
We also highlight the TLF team’s ongoing support and dedicated fundraising efforts, showcasing how a small UK company can make a big difference to women in Africa and help MicroLoan achieve its mission.
The MicroLoan Foundation has empowered over 450,000 women living in poverty across Malawi, Zambia and Zimbabwe. It has provided them with loan capital and business training to help them build and grow their own small businesses. This approach fosters independence, enabling women to lift themselves out of poverty and provide their children with nutritious food, healthcare and an education.
The impact of MicroLoan’s work extends beyond individual success stories. As female-run businesses flourish, they catalyse economic and social prosperity within their communities – especially in regions and countries where women and girls may be marginalised. From grocery store owners to hairdressers and farmers, the women supported by the MicroLoan Foundation often go on to hire employees, creating opportunities and improving the prosperity of their communities.
The MicroLoan Foundation’s social microfinance model is pivotal in this transformation. It offers financial services to low-income individuals or groups who would otherwise be excluded from access to finance. Supported by ongoing training, these micro loans are an ethical and sustainable solution to poverty.
Recent impact data from the charity underscores the profound importance of its commitment to women’s equality and financial empowerment. It has led to increases of 377% of women reporting a rise in business profits, 20% in female-owned assets, nearly 10% in food security, and nearly 20% in girls attending school.
Over the past decade, The Language Factory has partnered with the MicroLoan Foundation to empower women in business across Africa. Through various fundraising activities, challenges and donations our team has successfully raised over £440,000 to support this vital cause.
The team has channelled our creative skills to host a variety of events. From fun-themed evenings and takeaway services to setting up an office tuck shop and (after hours) wine tasting, we’ve embraced our love of sweet treats and drinks – all in the name of fundraising. Some of the team have even cleaned out the office fridges in exchange for a donation – can we honour those brave souls? 😉
Some of TLF’s more adventurous team members have taken on the feat of endurance that is the 3,002m trek to the top of Malawi’s high peak, Mount Mulanje. Most recently our Marketing Consultant Natalie Hall undertook the challenge and also had the opportunity to meet the local MicroLoan team and the women benefiting from support.
Alice received training and her first loan from MicroLoan Foundation in 2018. She now has a Tilime loan, which is a food security loan to cover the cost of providing agricultural inputs to grow maize and soya. The soya rotates well with the maize and improves the soil quality to boost the next year’s harvest.
This year Alice’s maize harvest was not as good as she had hoped due to problems with termites and a lack of rain. Thankfully, Alice has produced enough to feed her family for the coming year. She also had a bumper harvest of soya which she will sell to provide an income and repay her loan. Alice plans to hold some of the soya back, as it is a good source of protein and a nutritious compliment to her family’s mainly maize based diet.
Alongside her farming, Alice is a microentrepreneur. She sells baked goods and runs a small chip shop, which she set up with previous loans from the MicroLoan Foundation. She is confident about her products and the growth of her businesses. “My baked goods are very popular, customers complain if I don’t bake. So I know I am better than the competition!”
Since taking out her first loan in 2018, Alice has been able to afford to build a house and furnish it with two armchairs, a mattress and sheets. Her children hardly ever miss school, and Alice has gained confidence and independence in dealing with finances.
Alice’s story highlights the challenge of food security around the world. Alice, and the majority of the women the MicroLoan Foundation works with, play an essential role in the food system, as farmers, traders, cooks and consumers.
Malawi, Zambia and Zimbabwe are among the countries hardest hit by the recent El Niño-induced drought, which has brought failed harvests, food shortages and widespread malnutrition.
The MicroLoan Foundation supports its clients through crises such as these, by helping them diversify their income sources, offering access to savings and additional capital, and a loan group that can step in if necessary. Additionally, they offer mentoring and training to help women navigate these uncertain times.
We invite you to join The Language Factory in supporting the MicroLoan Foundation. Your contribution can make a meaningful difference in alleviating this crisis and continuing the work of empowering women across Africa — every donation counts.
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