We are excited to bring you this update just as we are excited to share news with you, our partners, every quarter. This update is especially special because it comes as we celebrate ten years of service. We are grateful for all we have accomplished and all the work that lays ahead of us.
Changes continue to unfold in Phakamani. We are grateful that with God’s help we continue to find the strength and wisdom to manage this rapid rate of change in a manner that allows us to continue to maintain the high standards we have set for ourselves.
Change is also rapidly unfolding throughout South Africa as we are sure you have seen in the media. Phakamani continues to strive to be a positive presence in the lives of so many throughout South Africa and we are hopefully looking towards to the future of our organization and our nation.
EXCITING UPDATES FROM THE FIELD
- We informed you at the end of 2017 that in 2018 Phakamani intended to establish six new branches. We are currently in the process of establishing three: two in Limpopo and one in kwaZulu Natal.
- During the last newsletter we shared news about the effort to pilot a few changes to our operating model. The pilot phase has concluded and based on the results we have decided to move ahead with an increase in group size from five to six women. Also, we will begin to give our clients a choice between four or six month loan cycles.
- We are excited to announce we have secured new governmental funding from BANKSETA. This partnership will enable us to expand our capacity building and training program for our field team who interact daily with our clients.
- Folks from the Phakamani US Fund visited several of our groups and branches earlier this month. The meetings were beneficial and uplifting for all parties. As one traveler said: “I had known for a long time that the work of Phakamani was special but seeing it in action blew me away. Now more than ever I am proud to be connected to such a remarkable organization.”