The MSC provide an interest-bearing loan to REGMIFA. Managed by Symbiotics, REGMIFA funds loans to Sub-Saharan African small businesses that foster economic development through employment creation, income generation and poverty alleviation.
Since the REGMIFA was established in 2010, the fund has provided loans to support more than 170,000 small businesses across 19 countries in sub-Saharan Africa. The majority of the countries are considered Least Developed Countries with an average Human Development Index ranking of 155 of 188 (Zambia, Senegal, Mali, Angola, Burkina Faso, Sierra Leone, Niger, Chad, Malawi, among others), according to the UN. Just over half of the borrowers are women.
REGMIFA provided a loan to Entrepreneurs Financial Center in Uganda which helps micro-entrepreneurs in Kampala grow their businesses. One such entrepreneur is Mr. Mpagi Siraje, an experienced poultry farmer. With a loan he was able to double the size of his business and now has five poultry houses with30,000 egg-laying birds.
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