Yesterday, we held an evaluation meeting with a group of rural women benefiting from the EnKindle Cameroon Table Banking project. 84 women in the communities of Jinkfuin, Belo, Ntungfe, Aboh, Anyajua and Twantoh, all in the Belo Sub Division of Boyo, have received a grant for hands on business training and Table Banking. Barely a month since the commencement of the project the women have wonderful stories of success to narrate.
Some of the activities the women carry out are poultry farming, buyam and sellam initiatives, goat rearing, restaurant services, to name a few. For, example, Nges Alice will be giving out her first set of chicken in the coming weeks. Buying each of the chicken at 1500 frs, she just feeds them with chicken feed for a few weeks and sells at an average of 7000 frs, thus making substantial gain. This will go a long way to sustain her family that has been seriously affected by the crisis in Cameroon. With the gains made, she will expand her business to include other initiatives, thus ending the story of poverty that has characterized her family for a while. Comfort Abla, another women benefiting from Table Banking has money to buy beans from farmers and sell to traders who come to Bamenda. She does this on a weekly basis and in some weeks this happens twice. She has a large family to support. The husband’s home was burned in the South West, and they lost access to their farmland. The profits made from this business will help the family stand on its feet again. She will be able to support her children in school.
Table Banking is a self-managed pool of capital that is made available to women in a given group. Income, saving and reinvestment are the 3 Pillars of success for Table Banking. Women borrow from the pool to invest in a business and generate Income that allows them to pay back the loan with interest, save the additional income and borrow additional capital to reinvest in growing their business. It is very easy to implement and can be replicated elsewhere with ease. Women can start with as little as whatever they get, and seek funds to scale up the business later.