Official opening of Better Globe's micro-financing
On May 2, Better Globe officially opened its microfinancing program. This is a partnership between Better Globe Forestry Ltd. and K-Rep Fedha Services Ltd., which is the largest and most recognized microfinancing company in Kenya. The initiation of this partnership started over three years ago. Guests and the first employees of the project were welcomed to the ceremonial opening day.
Microfinancing bank funded by Better Globe
Better Globe's donation packages have financed the building and the employees’ wages so far. At its inception, 450 families joined the microfinance project, with the prospect of increasing this to 150 more families within three months. Several families have already undergone training for how they can save money and lend to their own projects. The microfinancing bank plans to be self-sufficient after two years of operation. Until then, the bank will be supported by funds from Better Globe's donation project.
450 families attended the opening ceremony
The main focus of this bank will be to encourage families that take micro loans to become Better Globe outgrowers when our tree plantation establishes in Sosoma. Microfinance is customized farming and tree planting in order to cover our area of support within the frames of our donation package program. This project is the first of its kind in this poor area, and everyone is excited for the opportunity to find work and build their own savings. Women are especially taken into account in our project, as they are the ones who build and support their family.
As mentioned, this is Better Globe's pilot microfinance project in Kenya. We expect to spend time on testing and improvement before we expand and establish microfinance banks on each of our other existing or new plantations.
Jean-Paul cutting the ribbon for the official opening
Jean-Paul Deprins, CEO of Better Globe Forestry Ltd., was the guest of honor and cut the ribbon for the official opening of the project. He also held the keynote speech at the commencement. Better Globe received much praise from all speakers and the population. Our microfinance project can change the lives of thousands of poor families in the years to come. The collaboration with K-Rep allows Better Globe to receive regular reports on financial and practical results each quarter.
Make it a great day!
 Rino Solberg
Chairman/CEO
Better Globe Group
P.O.Box 410
NO-1502 Moss, NORWAY
Tel. +47 6925 0001
Email: rino@betterglobe.com
Web: www.betterglobe.com
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