We started EhNikshon in 2012 with a microcredit project. We copied the methodology from Muhammad Yunus, the founder of the Grameen Bank.
To get a loan, 5 women have to form a group – each has a different business idea – one buys vegetables and fruits at the market and sells them in the villages with a small premium, the other sells the traditional Massai Shukas, one buys a sewing machine and mends clothes etc.
The loan amount moves around €100!
On woman is the leader of the group and collects every week the money – each of the 5 women vouches for the other to ensure the repayment – so the others put pressure on, if one does not pay back. This system works so well that we have no problem with prepay.
Most loans are paid back after 6-8 months – from this moment on, the women are independent businesswomen, earning their own money and thus ensuring the family’s future.