Our efforts in partnership with PROGRESS Investment Credit initiative seeks to single out women who would be able to grow small businesses, increase their income level, build assets and increase their families well-being with the help of micro-credit loans.
Even though Cameroon’s current credit legislation does not discriminate against women, several factors make it difficult for the majority of women to gain access to bank loans. For example, legal barriers to women’s access to land and property restrict their legal capacity to offer guarantees. The government reported in 2007 that just 5% of banking clients are women, and women receive only 4% of the bank credits granted.
By helping women have an alternative source of income we are also improving the living conditions of their children and the overall economy of their community. Women pass on their learning to other family members and are often the glue that keeps the family together – by helping women become financially independent they will be able to better provide for their family and decrease neglect of children and the elderly.
Micro-credits are a sustainable and empowering way for women in Cameroon to reduce inequalities and break the cycle of poverty. You can support vulnerable women right now by visiting our micro-credit project: https://www.ammado.com/community/140731