Today was our first day out in the field and we went to an urban slum community called Ndirande, one of Malawi's most deprived townships. OIBM has been serving poor entrepreneurs in this region for the past two years and just last week opened a new branch in the heart of the community. Having only been open for 7 days, the new branch already has seen nearly 100 people open savings accounts. Given the massive demand in the area and lack of supply (OIBM is literally the only bank serving people in Ndirande) it won't take them long to have a bustling banking hall.Opposite the branch is the main market place, where you view business stalls as far as the eye can see. We met a few OIBM clients who were running various enterprises including beauty products, maize and steel. The loans provided by 'Banki Yangi' (which translated is "My Bank", the nickname clients have given OIBM) have obviously made a massive impact on their income and families.
By far the most innovative loan purpose we heard about isn't exactly table talk and we certainly did not think that we would ever know this much about the subject! We are referring to human waste. OIBM has formed a collaboration with a local water and sanitation NGO called Hygiene Village. Given that waste collection doesnt exist at all in Ndirande, OIBM is lending tiny amounts of money (£20) so that clients can purchase a pit latrine. Individuals can get one of two models: the VIP (Ventilated Improved Pit) version or the Skyloo. Our favourite is the Skyloo as it turns the waste into organic fertilizer which our clients can use on their fields or sell for extra income!
By far the most innovative loan purpose we heard about isn't exactly table talk and we certainly did not think that we would ever know this much about the subject! We are referring to human waste. OIBM has formed a collaboration with a local water and sanitation NGO called Hygiene Village. Given that waste collection doesnt exist at all in Ndirande, OIBM is lending tiny amounts of money (£20) so that clients can purchase a pit latrine. Individuals can get one of two models: the VIP (Ventilated Improved Pit) version or the Skyloo. Our favourite is the Skyloo as it turns the waste into organic fertilizer which our clients can use on their fields or sell for extra income!
We ended the day be attending a large 'cluster' meeting with 7 of OIBM's Trust Group clients from the Limbe area. There were approximately 70 entrepreneurs in the session in total, 67 of which were women. They started the session by singing the OIBM slogan enthusiastically while holding hands and clapping. Loosely translated the slogan goes as follows:
Opportunity Bank
My BankOpportunity Bank
Power to those that are resourceful
Opportunity Bank
Unity that lasts a long time
Opportunity Bank
My Bank
Not exactly how we start our banking meetings back home!!
Am loving your vivid descriptions, Maria.
ReplyDeleteI particularly like the innovative potty loan products!