Our Adam Smith Benevolent Fund is making two new micro loans. The first is to Fifadji Jérônime in Benin. She is 35 years old and stopped her studies at the primary school level. She no longer lives with her husband. She is the mother of two children, both of whom have received schooling and live in her care. She lives with her children and provides for their various needs on her own.
In order to cover her expenses, Fifadji Jérônime has been selling beverages and other various items by the distribution system for two years now. This business allows her to provide for her needs without much difficulty. She stocks up in Togo.
The loan will allow her to expand her business and increase both her customer base and her revenue.
Rosa Emperatriz is 55 years old, is a widow, and has a son who is 36 years old. She started her business 20 years ago selling various products. She has always been a merchant and she likes to innovate. She currently works alone from Monday to Sunday from 6:00am to 5:00pm. In the evenings, she sells meat brochettes and roasted wings.
With the loan, she wants to buy supplies for her store such as oil, grains, sweets, candies, beverages, etc. Her goal is to make her business grow, so she will have more income to finish building her house.
The Adam Smith Benevolent Fund is a division of the Moorfield Storey Institute. A portion of the Institute's income is channeled into benevolent projects either as loans or donations. Income includes sales of books via our discount libertarian book service, Fr33minds.com.
We prefer to use micro-lending in most cases to encourage economic development in poor nations. Economic development is the key to solving most problems in poor nations.
As opportunities and businesses expand poverty is reduced, educational levels increase, social toleranace is fostered, health improves, etc. Helping poorer people become wealthier, through their own efforts, address a large portion of problems in developing countries.