09ne-5513 - Micro finance for rural poor women and micro insurance: Up-scaling services and enhancing growth in Saving and Credit Cooperatives
Objectives of this project: 1.To reach out to 65.000 poor individuals members and provide them ACCES to affordable micro finance in order to be able to improve their wealth. 2. To expand the mutal aid services (micro insurance) to 150 SACCOS (reaching 5.800 individual memebrs) and achive opertaion break even of this service 3. Interlending funfdincreased for provision of loans 4. Membership growth of 250 additional SACCOS (from 650 to 900 SACCOS) Proposed Activities: Micro finance: In the period from 2010-2012, NEFSCUN wants to expand it services to 100,000 low income people (of which 80% women). NEFSCUN member SACCOS will provide them with microfinance services and contribute to building their wealth. Microfinance services will be provided by applying the Credit Union Microfinance Innovations (CUMI) methodology, which includes a ful fledged orientation and training programme especially designed for poor segments of the society. After the orientation and training period and 6 months saving, the new members are entitled to take their first loan. In 2010 we plan to provide CUMI based microfinance services to 30,000 and in 2011 to 35,000 new members reaching 65,000 in 2 years. This programme will be supported by Business Development Services, supporting entrepreneurial poor women in accessing the market. Mutual Aid services: NEFSCUN provides funds, builds capacities, provides financial risk protection with its Mutual Aid services (micro-insurance) and provides all kinds of materials and administrative tools to professionalize the services of the SACCOS.