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Better Globe

Microfinance and microcredit

Better Globe works with microcredit and microfinance to support farmers who live around our plantations. We strive to create possibilities for them to benefit from Better Globe’s existence and expertise, and the opportunities that arise because of the plantations located in the vicinity.
Microfinance and microcredit

Microfinance is a term used primarily in the context of being able to help people who lack their own collateral and are entirely excluded from the financial market for receiving loans. Collectively or individually, impoverished people can borrow small amounts of money to finance their business, thereby increasing opportunities to make money themselves. To borrow money and "do it yourself" has a tremendous impact in terms of increased competence and reduced dependency.

Various forms of microloans have quickly become a well-established method in almost all organizations for helping the poor create better lives for themselves. Financing of microloans is made through Better Globe donation packages, which includes 1.50 euros earmarked to establish and fund loans to people who have no possessions or documents to show evidence of past success or credibility.

The microfinance concept is based on being able to lend money to those who lack access to banking, collateral, or steady employment, and who have nothing else to offer banks in return other than their own word. Microfinance is based on credibility and mutual respect, which has proven to be a fantastic combination. It also has the power to single-handedly defeat poverty. The repayment rate on these loans is extremely high for all the microloans issued worldwide. This appears to be due to the collective social responsibility that is a common interest among lenders, borrowers, and the community at large.

The microfinance possibilities, and initiatives of this kind, are endless. Better Globe will help microfinance poor farmers in East Africa, prioritizing the communities around our plantations in various parts of the region.

Mboti outgrowers water project

Better Globe's first microfinance project is an initiative of Mboti, in the Mwingi East district in Kenya. This area is home to 12 people per square kilometer, and poverty is substantial. The area has no available water, and the narrow rivers contain water for only a few days after each rainy season.

The project involves 100 farmers and their families. These farmers, in association with Better Globe and the agro forestry cooperative Sacco (Savings and Credit Cooperative), encourage members to save money and give credit to each other.
Read more about Better Globe's project in Mboti...

Contribute to the microcredit operations

Contribute to the microcredit operations

Microcredit operations are financed primarily through the donation packages, in which 1.50 Euros are earmarked for microcredit activities connected with our plantations. 

 

Read more about microfinance and various types of projects conducted in Africa at Better Globe Forestry's website.