CLI's Microfinance Program: An Update

As longtime followers will recall, CLI initiated a microfinance program to fund businesses and social projects started by our alumni in May of 2020. On one hand, it has obviously been a challenging first 8 months for a program like this one given the lingering effects of the Coronavirus pandemic. Nevertheless, our alumni continue to demonstrate remarkable resilience in the face of macroeconomic headwinds. We are writing to provide an update on the microfinance program now that we are two-thirds of the way through its first iteration.

CLI provided $6,750 in aggregate loans to 45 businesses on or around May 1, 2020. As of December 31, these businesses have produced a total of $32,070 in revenue and $8,400 in profit (a healthy 26% profit margin). The most successful project on both a revenue and profit basis is a general store in the town of Beni, which has thus far generated $2,312 in revenue and $783 in profit. Overall, 33 of the 45 businesses are profitable and have returned $1,092 of the total loan obligation to date, which puts us on track to meet our goal of $3,375 before May of 2021.

As for the social projects, 8 out of 10 have been successfully completed. One of these social projects succeeded in planting 1,700 trees outside of the city of Goma. These trees will have a direct impact on climate change and will ultimately produce fruit to feed the city of Goma.

Our alumni - more than 4,000 strong across the DRC - are making a difference in nearly every sector. The success of our microfinance program is just one of the more easily-measurable examples of leadership by Congolese youth driving development in the DRC. Our supporters like you make this possible. Thank you for continuing to believe in Congolese youth!