It is late Aril, and I am sitting here in Uganda, trying to find the perfect words to convey to you all the amazing things that Connect Africa has accomplished already this year.
To date, we have 37 students in school, ranging from nursery to university. The students are proud to say we have a child in every grade! In total we have helped 53 students.
We love the children who are part of CAF! Yet, we know that micro-loan funding is truly the way to empower individuals and the community, and in the long run helps hundreds of children at a time. We provide business start-up loans, loans for expanding an existing business and education loans. Much to my joy, of the 48 micro-loans CAF has provided, only one has defaulted on the repayment. That is a 98% success rate.
To have dreamed the loans would be so effective, and our experience in providing micro-loans to men (have awarded 13) would have as wonderful results as those to women. I want to share with you a few stories that illustrate this program and its impact.
Two years ago Charles, the co-director, met Galabuzi Edward.
In Uganda one means of transportation is by motorcycle, called boda boda. Charles began using Galabuzi. He observed how many parents trusted Galabuzi with their children. As time went one, Charles learned that the motorcycle was rented and Galabuzi had a dream to own his own.
We were happy to provide Galabuzi with a micro-loan to purchase his own motorcycle and thrilled when the loan was paid back earlier than stipulated in his contract. As he paid the loan, he also gave us money to save for him. CAF's loans are interest free, but the contract requires that when the loan is finished, the recipient will make a donation to CAF to "pay it forward". In fact, he donated more than ANY other person has ever donated. What amazes me is how incredibly generous of heart he is to others when he still has little.