Hi John, Your interest and comment to my idea are greatly appreciated. To respond: I agree 10% can be quite large for some individuals however, the current market interest rate for loans in Tanzania is between 20 -30% per month. The 10% we are considering here is an annual interest rate, which is actually less than 1% interest per month. We thought this should be reasonable and has potential to facilitate responsibility, enthusiasm and hard working among the group members knowing they have a capital with interest to repay for the next person. This also instills a sense of ownership of the program among the groups of girls. It also ensures sustainability of the program and room for program expansion to more groups through accumulated interests. Part of the interest will also enable recovering of administration and other costs instead of using the capital fund on such expenditures. We are happy to learn examples and experiences of best practices on this. Thank you once again. Flora.
Hi Rugemalira, Thanks so much for taking the time to read my idea and comment on it. Yes, I think this innovation can be extended thru E.Africa because most countries in the region and Sub-Sahara in general share some similar ratios of populations and gendered division of labor where more women than men engage in agriculture; poverty levels among the majority agriculturalists, other social socioeconomic challenges including unemployment trends,school drop outs for girls/youths, girls/women exclusion in education and development process, climatic changes and challenges which results into issues of low productivity, malnutrition and food insecurity, cultural beliefs and practices, unimplemented policies, politics, and so forth. All these make it easier in replicating and hence extending a similar program in the region. Thank you for asking. Let's keep the discussion going! Flora.