An 11th Phakamani branch has begun opereating in Siyabuswa, which is in Mpumalanga Province, on the border with Gauteng Province.
Last quarter we crossed the R40 million mark (nearly USD 5 million) for total value of all micro-loans provided since operations began in 2008. Thank you to all staff and supporters, and especially to our dedicated Development Loans Officers who work directly in the communities we serve.
Our Badplaas branch now has over 200 groups of entrepreneurs (five per group.) This is the first branch to cross that threshold.
Please visit the new website of AMFISA – the Association of Pro-poor Microfinance Institutions of South Africa (www.amfisa.org.za) to learn more about development microfinance in South Africa. Mark Tucker, CEO of Phakamani, is also the chairman of AMFISA.