Best Projects 2021 features all the nominated entries submitted ‘Submit your Project’ category. All the entries consist of innovative projects run by existing enterprises in the form of businesses, NGOs or informal programs.

Combatting Rural Povery Through Table Banking

Published on May 7, 2021 um 22:39

Your title/position

Director

Type of Enterprise

non-profit organization

Year the ngo or company was founded

2007

Explain your project in details:

Combating Rural Poverty through Table Banking has as its target, rural women in Cameroon. The Primary goal is to enable rural women have access to capital to invest in income generating activities that will allow them to move away from the cycle of poverty, reduce their dependency on their husbands, provide means to bring their children to school, and ultimately increase equality and foster human rights. Access to capital will be granted via Table Banking, a self-managed pool of capital that is made available to the 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 her to pay back the loan with interest, Save the additional income and borrow additional capital to Reinvest.. Table Banking is a group funding strategy in which members save once per month and the money is immediately borrowed by the members. Table Banking has the following features: Fund is owned by the group; the group set rules and regulations for lending and repayment; members pay interest on the loan which will contribute to higher availability of capital to the group. In order to start with Table Banking it is necessary to place initial capital that will allow you to buy a defined amount of times what you have saved. This model constitutes itself to a virtuous cycle: 1) it gives access to capital to women who would not have the means to get it. 2) Women participating on the Table will agree on defined participating rules on how to self-distribute the capital to fund the projects of all the participants. 3) Women return the investment with a small amount of interest that will enable new projects be funded.

Impact of your enterprise on sustainable development

Table Banking will not only help women but: Improved health and reduce child mortality rates: a study done in 138 countries by the UNDP has proven that child mortality and gender inequality are strongly correlated. Benefit families: Increasing the share of household income managed by women changes spending in ways that benefit children and the whole family. Strengthen economies: if women have the same access to productive resources as men. Violence reduction: women empowerment allow women to be less dependent on their husbands and give them higher capacity to get out of abusive partner. Main Objectives of the Project are: To help women to exit the poverty cycle by providing access to financial funds and entrepreneurial support. To ensure self-sustainability and create the basis to expand Table Banking in Cameroon. To enable women to have an access to hassle free short term credit each month to finance their other commitments. To provide women with a steady flow of money each month so that they can take care of small educational requirement of the kids during the month. To provide a self-sustainable Model for their business that will attain financial independence at the fifth month. To help women develop a disciplined saving and investing habit and help them understand power of systematic investment and mobilization of resources. To inculcate entrepreneurial and leadership skills. To give rural women opportunities to showcase their abilities. To end generational cycles of poverty and diseases and providing a foundation for sustainable development. To allow women to turn their passions into money and use the profits to send their children to schools. To empower women with financial stability and decision making which will boost economic activities in their various communities.

Sustainability and future plans

In order to bring Table Banking, the following process has been defined:: (I) Select women of a homogeneous nature into groups of 12 each. (II) Use part of a grant to contribute to the initial money women will put on the Table, (III) Supervise the first meeting where women will arrange the first loans and rules of the Table, (IV) women will use the borrowed money to invest in income generating activities, (V) women will meet on a monthly basis to track each loan and give additional loans, (V) Our organization will provide education and support throughout the initiative. I. Women selection Women to benefit from the program will be identified by working through school authorities, traditional councils, village heads, and local churches II. Initial capital Grant money is distributed to women in groups of 12 each. The rest of the initial capital will be added by the participating women. Each woman needs to add a minimum amount of 50,000 FCFA (or about 83 USD) and a maximum amount of 100,000 FCFA (about 163 USD) to participate, this amount can be added at the start or fractioned in several months with an interest. The money each woman puts on the Table is called Shares and will be used to determine the money she will be able to borrow. The reason to establish a minimum and a maximum is to ensure that all the women are on the same economic level. III. First Table Banking meeting Women will first meet and put all the money on the Table. The first meeting will be moderated by a GMM supervisor and will serve two purposes: (i) to decide on the roles and rules for the Table, and (ii) to decide on the short term and long term loans given to the participating women.

Your profile as an entrepreneur

Teh Francis was born on the 2nd of May 1977 in a small village called Ngwah in the Fundong Sub Division of Cameroon. Serving as a clergy man, he is also founder and director of Goodness and Mercy Missions, Cameroon. The organization was founded in 2007 to help the rural poor, and to provide tools and means to the underprivileged for a sustainable livelihood. The organization went on to empower hundreds of women economically in Boyo Division of Cameroon, sponsor more than a 1000 underprivileged children in school, engaged young mothers in vocational skills acquisition as well have provided computer to the Belo community and its environs. In 2011, the organization won the Cameroon Development Market Place Award under the project, Childrens Education through Women Empowerment, and was awarded a Certificate of Recognition by The World Bank and The Catholic Relief Services in 2013 for best project implementation. In 2016, Teh Francis was awarded a scholarship to be trained at the Kanthari Leadership training course for Social Change agency in Kerela, India. In 2017, he became a kanthari graduate. During the course of training in India, he developed a flagship program of Goodness and Mercy Missions, EnKindle Cameroon which has been providing hands on business training to rural people which discovers and ignites their passions. He has also served in several capacities in the community development sector; as Secretary General of the Association of Baptist Christians for Development (ABCD) and as President of the Boyo Network of Private Social Structures organized under the Ministry of Social Affairs. He is married and has four children.

GMM EnKindle Cameroon Table Banking photo

Child sponsorship

Teh Francis Yai

Vote now for: Combatting Rural Povery Through Table Banking

Save Voting Process:
In order to vote, you must authenticate yourself by verifiying your email-address

Post a comment

Comments

Waintim marvelous

June 4, 2021 15:44

Great initiative Rev, for the rural women it is a firm foundation for a positive turn on poverty.
Worth encouraging and supportive.
A great opportunity to make a better world
God be honored

Ndong Ezekiel

June 3, 2021 09:13

Thank you Rev Teh Francis for bringing this project of hope to the royal women and the underprivileged through the table banking method.
Your smile is always seen when ever you put a smile on someone's face.
God bless your efforts and purposes in this world.

Kuh Milton

June 3, 2021 08:33

Wow this is really great work sir, and the work will really make a difference in the society. May God give you more and more of these visions to help his people

June 2, 2021 12:23

Economic downturns particularly affect women groups. Many are employed in sectors hardest hit by the COVID 19 pandemic and the crises including entertainment, retail, tourism, travel, and smallholder farming. This project is timely as it will improve women economic opportunities diminished as a result of COVID 19 restrictions measures and the current crises rocking the region. Access to financial resources will be vital for overcoming the crises and is the key problem to be solved by this project.

Sara

June 1, 2021 16:41

Great project Francis! What you are doing is really important. Strong and financially independent women bring significant change, strengthens their participation in decision making and control of income allocation and expenditure of household resources.

June 1, 2021 16:04

Combatting Rural Poverty Through Table Banking is an awesome initiative by Goodness and Mercy Mission, Africa. Fostering community development, empowering young women and mothers in the community through SME entrepreneurship initiations, can support SDG 2 and SDG3, impacting rural livelihood in a positive way. A very innovative work. Way to go Teh Francis, it is an amazing program to go through.

June 1, 2021 16:04

Combatting Rural Poverty Through Table Banking is an awesome initiative by Goodness and Mercy Mission, Africa. Fostering community development, empowering young women and mothers in the community through SME entrepreneurship initiations, can support SDG 2 and SDG3, impacting rural livelihood in a positive way. A very innovative work. Way to go Teh Francis, it is an amazing program to go through.

June 1, 2021 01:49

Very great initiative as it not only fostering community development but also sustainability of the people. The principle thing that stands out to me about this project is that it is inclusive. It does not marginalise women instead it is actually promoting ways to empower young women and mothers in the community through skilled businesses and offering them starting capital.I look forward to seeing the projects being implemented and the community being greatly impacted.
Great project indeed.

June 1, 2021 01:48

Very great initiative as it not only fostering community development but also sustainability of the people. The principle thing that stands out to me about this project is that it is inclusive. It does not marginalise women instead it is actually promoting ways to empower young women and mothers in the community through skilled businesses and offering them starting capital.I look forward to seeing the projects being implemented and the community being greatly impacted.
Great project indeed.

May 31, 2021 09:56

Really a nice achievement ,to be able to give idea and use them to reduce povery rate in rural area ,we hope to see more this .
Although me criticizing such achievement would be a bad idea to think of ,but the project was only concern about women and children excluding men ,men also suffer from povery rate in rural and should be a part of the project also .
It's still a project that deserves the best I hope better correction are able to look through and fix faulty areas

May 30, 2021 21:35

A very interesting and innovative idea that will automatically help empower and improve our Mothers in the rural poor African hard to reach areas. African women(our mothers) have done this for so long in a traditional method.

Thanks to Teh Francis/GMM for taking up the model !!

This Model will work well without any doubt and wish the idea good luck so that your passion for empowering vulnerable can be achieved.

Justus