This month Be One Percent is supporting the outreach work of Concern Universal. Providing a framework for community saving and loans groups the programs are currently reaching some 59,000 rural clients from the 14 districts in Malawi, 80% of whom are women.
These saving and loans groups work in a similar way to credit unions in the UK. Commitment from the community itself provides the security so that affordable loans can be made to its members. This means people can access basic financial services to support their businesses or improve their own environments. Because it works at a community level it allows funds that are saved to be recycled as loans to more beneficiaries, this increases entreprinarial activities which boosts the local economy. Be One Percent wants to help Concern Universal reach 10 more communities in this way.