Best Ideas 2019 features all the nominated entries submitted under ‘Submit your Idea’ category. All the entries consist of innovative solutions or propositions for an enterprise that champions the Sustainable Development Goals. They can be on the conceptual, planning, or start-up stage.
Lifting People and Nations Microfinance
Explain your idea in details:
We would like to enhance accesible financial services in the form of agricultural inputs. This will also increase the participation of women and youths in agricultural lending activies thereby reducing poverty and unemployment. Make sure people take farming as a business because it also greatly contributes to the development of an economy. In the long run we want topromote the savings culture among communities so that they can be sustainable and also run their own enterprises whereby financial literacy and entrepreneurship will be taught to the communities. The health and nutritional status of the people will be also raised because they will be producing their own natural foods for consumption and sale. The group lending approach will be used to give the financial assistance because they can guarantee each other and avoid stringent conditions offered by banks. The financial products should be affordable to the community because this is meant to uplift them. Most SDGs are taken into consideration by the fact that when communities have money they educate their children and they also can provide clean sanitation for their families thereby reducing deaths and illnesses.
Expected impact of your idea on sustainable development
The idea is supposed to have a positive impact in the communities because when they are financially included they can improve their lives and also that of the community. Deaths, illnesses, school dropouts, poverty and idleness is greatly reduced among the community thereby funds for development are channeled to other sources like building dams unlike feeding the community. The impact can be measured by the number of reduced school dropouts, food assistance programs, impartation of financial knowledge to other counterparts, increased number of successful productive projects that continue to grow even when funding is no longer available to them. The increased number of different value chain deliveries to the market and formation of commodity associations that can help in advocating for better prices for their commodities. After twelve months of successful operation, the positive impact will be noticed in the community. There will also be increased cash flows in households and an increase in the family assets purchased for example increase in cattle herd. The number of successful savings groups that continue to bring development for its members can also be used to measure the level of financial literacy levels reached.
Plans for implementation and sustainability
The business model is about financing of agriculture, on farm( example horticluture, maize or soya beans) and off farm (example small livestock- goats, pigs and poultry) projects. Prospective clients will be given loans which will be repaid back after a certain cycle depending on the supported value chain, for example repayment for maize is after nine months and for poultry - broilers it is after eight weeks. Clients will also get training in financial literacy, entreprenuership and farming as a business before they get their loans. Loans will be given to those who have the experience and infrastructure for each value chain. Theywill also be required to form groups of minimum five clients and pay a small commitment fee which forms part of their loan. Currently we do not have any source of finance and we are looking for funding so that our idea becomes a reality and we can also be able to help the community this way. Collaborators include the Ministry of Agriculture - extension workers and the ministry of Livestock - extension workers, community leadership and other government stakeholders who are into development of farmers.
l am a female aged 33 and grew up in a rural setting whereby the idea to develop my community came to me because l noticed many people are not prospering not because they do not have the knowledge on how to farm, but they lack the financial resources that they can use to elevate their businesses. This is mostly because the extension workers are put into communities to grow the knowledge base of farmers but if there are no resources then it will all be in vain. The rural community is mostly constituted by women and youths and they are greatly sidelined by big banks when it comes to collateral issues thereby depriving them of development. When you fund a woman, you have funded a family, you have funded a community and you have funded a nation. l completed my secondary education and usually attend seminars by other entrepreneurs on how they have managed to survive and this provides an inspiration to me.