The start of 2017 has come and gone already and work is back to it’s normal busy pace for the staff at Phakamani. 2016 was a year of growth and success. We are excited to bring you the latest news and some stories along with a heartfelt “Thank You” for your continued support and encouragement. We also want to take this opportunity to share an exciting mini-documentary about Phakamani with you.
EXCITING UPDATES FROM THE FIELD
- 2016 has been a year of catalytic growth! Active clients up more than 65% in a year. Disbursements to clients rose to R66 mil from R35 mil in 2015. Seven new branches were added – we now have 22 branches with almost 400 centres. And the repayment rate continued to average over 98%.
- We continue to benefit from the new computer system which we announced in our last newsletter. We now have a integrated solution combining client information, process flow, loan administration and financial accounting. The mobile component of the system will be developed in 2017.
- The Jobs Fund project to expand Phakamani to KwaZulu Natal has been a success – we are far ahead of where we planned to be at this time.
- The US Fund held their annual fundraising event and it was another success. The mini-documentary was released there to much praise. Please take a moment to watch this short film.