Botswana: Thusang Basadi Gives Women Boost
Women's Finance House Botswana, otherwise known as Thusang Basadi, has funded close to 3 800 women to start businesses.
Speaking in an interview, assistant programme manager, Ms Matshidiso Tshukudu explained that Thusang Basadi's core mandate included poverty alleviation, women economic empowerment and financial inclusion.
Ms Tshukudu explained that Women's Finance House Botswana was a non-governmental organisation incorporated in 1989, and that it traded as Thusang Basadi, adding that the organisation helped women only aged between 18-65 years.
She said for women to be legible for the loan they must have been operating a business for a minimum of six months, and have a monthly turnover of up to P1 000 as well as being a regular saver at Thusang Basadi and attending meetings regularly.
"Thusang Basadi targets women who are sidelined by the mainstream financial sector, referred to as unbankable. These women are engaged in productive activities and are challenged in many ways.
"We are trying to open up access through a holistic approach to meet their needs which range from lack of business mentoring, lack of financial resources to sustain and grow their businesses including access saving where they are able to save their profits for the future and the betterment of their lives,' she explained.
Furthermore, Ms Tshukudu said Thusang Basadi believed in building up financial systems that met the needs of the majority, who were women as they were in the majority in the informal sector and were actively engaged in income generation, micro businesses and were feeding and sustaining families.
She said they funded existing small business starting from P1 000 to P30 000 with five per cent interest and paid on monthly basis, adding that the loan accessed was for working capital and purchasing of equipment. Read more from All Africa.
Source: All Africa