During 2015-2018, five thousand women living in the slums of Addis Ababa, Ethiopia got basic business training and were encouraged to develop their own enterprises as well as setting up and running their own savings and loans associations.
HUGE INCREASE IN INCOME AND SAVINGS
By the end of the project the women stated that they had increased their income by 500%. And while 70% of the target group did not have any savings in the beginning of the project, this number was reduced to 3.6% in 2018. As a result, the women improved the quality of their enterprises, increased their income and, ultimately, were able to take out and repay loans.
The women also expressed how aware they were of not only their own development, and their family’s, but also their mark on the community; how they could make a positive impact in the community that they live in.
It’s such a privilege to be able to catalyze real and lasting change in people’s lives through our partnerships. These results are not only amazing, but they are sustainable and will live on long after we have phased out our support.”Maria Bystedt, Program Manager at H&M Foundation