In order to strengthen the financial sector in South Sudan and help provide small entrepreneurs access to credit, USAID is funding the Finance Sudan Limited (FSL) Program, established in 2006 as one of the only microfinance lenders in the country.
Adam is one of FSL’s beneficiaries in Juba. In 2007 he earned his living as a driver. After four weeks of training on business management skills and the loan policies, he qualified for his first loan cycle of 1,000 Sudanese pounds, an equivalent of $350 and the maximum amount a new client could receive.
With the loan, he opened his own shop. He was so successful that he was able to finish paying off his first loan in six months. Now, Mr. Abraham is finishing repayment of a second loan of 2,000 Sudanese pounds ($700) to grow his business and he will be able to access a third loan in the coming months.
“The loan of 2,000 Sudanese pounds I am currently servicing has significantly multiplied my market’s stock and, through FSL, I am also opening another business. Now I am able to feed my family well out of the increased profits of the two businesses.” Adam plans to diversify his business by investing in the transport sector.