Highlights from CLI’s first microfinance project report

In early May, as the world was still coming to grips with the Covid-19 pandemic, CLI successfully launched our long-awaited microfinance program across the DRC. In late July, we began to receive project reports from this first set of projects. Each project is led by a graduate of the CLI Leadership Institute and we are proud of the progress made by the youth we invested in.

To date, twenty-seven of the thirty-three projects submitting reports have generated revenue. We wanted to share three representative reports to demonstrate the success these youth have attained after just three months of operations.

  • One business selling rice and manioc in Uvira is led by Kashindi Shabani. The team purchased supplies using a $150 loan from CLI and, in just three months, has generated $66 in profits on $397 in revenue. Uvira is in a difficult situation economically, worsened by the current pandemic, so this is an even more extraordinary achievement.

  • A group of youth in Beni led by Rebecca Vitamuhindo started a business that serves as a mobile general store. Despite early challenges due to the Coronavirus lockdown, the project is progressing well. Since kicking off operations in June, the store has generated $520 in revenue and $170 in profits.

  • Finally, a team led by William Muhigirwa in Bukavu launched a patisserie focusing on selling donuts and pancakes. One major economic effect of Coronavirus has been the weakening of the Congolese currency, the Congolese Franc. This has made imports more expensive and raised the cost of goods sold for small businesses like William’s. Nevertheless, the project generated $529 in revenue and remained profitable even in this challenging time.

Overall, we could not be more proud of the grit and creativity demonstrated by our graduates as they start businesses in one of the most difficult contexts imaginable. We are more convinced than ever that, with quality training in leadership and entrepreneurship, talented youth can overcome even the most difficult circumstances.

Nathaniel Houghton