AFRACA Gets $500,000 to Help Rural Women

By Jim.Robinson|May 26, 2011

As posted on GlobalFarmersRegister.com, the African Rural and Agricultural Credit Association (AFRACA) has been given $500,000 in funding from the Danish Development Agency to build the capacity of economically active women and make credit accessible in places it wasn’t before.

The goal of the initiative is to provide an economic base for rural women in Kenya, Tanzania Zambia and Mozambique, who would otherwise have no access to credit. Many of the women are currently working or have business experience, making them good candidates for running a successful business.

Another major purpose is make significant progress in achieving gender equality. With the financial assistance and knowledge that will be imparted, the lives of women will be improved. Women will be empowered once they begin to earn some income and likely will become more involved in decision-making at household level. Women’s economic status will be improved as they grow their business and begin to make profits.

The project is being implemented by a consortium of microfinance institutions in Africa comprising the Kenya Women Finance Trust, Micro Bankers Trust of Zambia, Pride Tanzania, and FMD of Mozambique. The networks of INAFI and AFRACA will coordinate the project.