In Rwanda in the Bugesera district, family income is mainly based on small-scale agriculture and land use, barely guaranteeing subsistence.
Precisely to diversify the income of families and especially to allow women to improve the quality of their lives, the Microcredit project was born, which supports initiatives of small businesses and some cooperatives.
Thanks to this project, the beneficiaries can obtain accessible loans even if they do not have the guarantees required by the banks and thus be able to start or strengthen their business and guarantee themselves and their family an adequate income and a decent life.
The Microcredit project, which started in the Rilima sector, was then extended to the Shyara and Nyarugenge sectors and from 2017 to 2020 it supported 230 new or young small businesses that allow as many families to have economic independence.
On average, the grant is € 150 which allows beneficiaries to purchase supplies or equipment, rent or expand a shop or create a cooperative of producers.
The management of funds and the choice of projects are entrusted directly to a local committee which, together with the representatives of the Marcegaglia Foundation, examines and evaluates the applications to ensure effective use of the loan. Over the years, various projects have been supported: from the grocery store to the shoemaker, from fast food to the appliance store, from tailoring to fish farming.
For the next 5 years, the ambitious goal is to expand the Microcredit project to other areas of the Bugesera district and to finance 930 individual micro-enterprises, 240 groups or cooperatives and train around 4500 people, mainly young people and women, with entrepreneurial skills and a financial literacy.