[Episcopal Relief & Development press release] Every Friday morning at 7am, Mariana meets with her fellow members of the Amor (“Love”) Savings Group in Bairro Fofoca – a neighborhood of Luanda, the capital of Angola.

With their combined savings, the group members have formed a rotating fund that enables individuals to take out loans for small business enterprises.  As a member in good standing, Mariana was able to borrow 10,000 Kwanza ($100) from the loan fund to start a business selling children’s shoes, purchasing them wholesale and selling them at a profit of about 300-400 Kz per pair.  At the end of the two-month lending period, Mariana faithfully repaid the full amount plus 10% interest, knowing that this would enable another group member to borrow funds and keep the cycle going.

“When micro-finance programs are built upon members’ savings, they can have a sustainable impact,” said Tammi Mott, Episcopal Relief & Development’s Program Officer focusing on integrated programs in Angola.  “Since the members themselves create the revolving loan fund, they are literally invested in each other, and this feeling of solidarity and accountability encourages everyone to contribute and do their part.”

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