Susan (standing), a businesswoman in Juba, southern Sudan, has used microloans to build several structures, including this building where she operates a bakery with her daughters. Photo by Jesse Brown
Submitted by Angela Stephens
Last month, USAID sponsored the First Southern Sudan Microfinance Conference, giving experts and practitioners an opportunity to exchange views about how to build the sector, which is still in its infancy in southern Sudan. In 2003, when USAID helped establish the Sudan Microfinance Institution (SUMI), there were no financial services of any kind in southern Sudan, a region the size of France.
Since then, SUMI has disbursed more than $2.7 million in loans to 10,000 clients—half of them women—empowering entrepreneurs to launch and expand businesses such as tea houses, bakeries, restaurants, and retail shops. It has also expanded its operations to six branches in four states—Central Equatoria, Western Equatoria, Lakes, and Western Bahr el Ghazal. Two international microfinance institutions—Finance Sudan and BRAC—are also now operating in southern Sudan.
Charity, a microloan borrower in Juba, southern Sudan, received her first loan in 2007, enabling her to expand her shop from a portable kiosk to a permanent structure. She has also invested in several plots of land around Juba. Photo by Jesse Brown
There are now an estimated 45,000 active micro-loan borrowers in southern Sudan, borrowing between approximately 200 Sudanese pounds (about $80) to more than 400 Sudanese pounds (about $160). Microlending is increasing trade and improving household incomes.
It is fantastic that we can do this for underprivileged people and countries. We certainly can use a better image globally. My biggest concern is that we overlook ourselves in this time of recession. There was an article (sorry I didn’t copy / remember the link) that talked about how difficult it is for small domestic businesses are having such a hard time getting financing. I believe in allowing or churches reach out to the overseas people and provide grants and aid. That provides resources to the poor that they do not have to repay giving them even more leverage to self sustain. Just my 2 cents.
I agree that it’s great we support other countries, but we should worry about ourselves first. We are currently in a recession that is being compared to the times of the great depression. This should be concern to all to help support the small business here in America first.
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Cool.. Indeed, the key to prospering is for people to think the right thought. It is amazing how people who loan seek out strategies in making their life better. Cheers.!