Ethiopia
A Glimmer of Hope is now implementing various income creation programs in addition to its development initiatives. The result is synergistic development, poverty relief and sustainable impact.
The foundation is doing this because it believes the opportunity exists to unearth the entrepreneur that lies within every Ethiopian who wants to feed themselves, their family and improve their way of life. We believe they deserve an opportunity to break the cycle.
All businesses need capital to start and to grow and that’s where A Glimmer of Hope comes in.
The three key components of A Glimmer of Hope’s Income Creation programs are:
Micro-finance: Involves small loans (between $100 and $500) being made to individuals without any collateral at subsidized, low rates of interest and with an exceptionally high repayment rate. Microfinance is not new – it’s been around for about 30 years in other developing countries and it is growing in Ethiopia. However, in many cases, loans tend to be made to urban dwellers rather than those living in the hard-to-reach rural areas where A Glimmer of Hope works.
Micro-irrigation: Allows farmers to turn acres of rock and rubble into fields of green. It allows them to better provide for their families and to sell surplus crops for cash in local markets. Small, low cost foot pumps and/or diesel pumps are used to draw water from nearby ponds, reservoirs, wells or rivers through open channels or drip kits onto the land being irrigated. Loans are also made to farmers for fertilizers and seeds.
Micro-enterprise: Refers to small businesses, from start-ups to Small and Medium Sized Enterprises (SMEs), with a particular interest those operated by women. The enterprises and borrowers that A Glimmer of Hope supports represent a wide array of businesses including: agriculture-based ventures such as pumps and kits for irrigation, cows for milk production, bees for honey, grain preparation and trading. Commercial ventures include: baking, handicrafts, textiles, cooking stoves, shops, market stalls and transport services.