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Hi Phakamani Friends,

It is difficult to believe that we are nearing the end of 2022 – this is the “shortest” November that I have ever experienced!  We pray that you and your families are well and that 2022 has been an awesome year for you.

As mentioned in my previous letter, it has been a tough year for our clients with suboptimal business conditions impacting their levels of business profitability. Like most geographies we are experiencing rising inflation and our clients are typically not able to pass their increased input costs on to their customers.  Despite this, we once again marvel at the resilience of the women we serve in maintaining and/ or adapting their businesses to meet their customers’ needs.  Sadly, some businesses have failed, and we ask that you join us in praying that these microentrepreneurs find the strength to start again.

Our social impact statistics continue to show positive growth in average loan sizes, average business values, and average savings with each loan cycle.  Our Progress out of Poverty Indicators follow these positive trends.  Most important, I think, is the hope that is created for future generations that are able to complete schooling and even achieve tertiary degrees.  One example is Selina Shabangu who runs a small grocery store and who has supported 5 children through university, another is Nokuthula Simelane who runs a hair salon and has supported her son to becoming a lawyer… and there are many other stories like these.

We are so grateful to God for His faithfulness in these tougher times.  Our revenues were up 17% for the first quarter of the financial year and our loan book grew 9%.  We opened 8 new branches this calendar year which is the highest number yet in a 12-month period and feedback from our clients remains largely positive about the service they receive from Phakamani.  Rosemary Mtshali commented, “I can’t see anything that can make me leave Phakamani because I don’t know where else I could have found such help” and Mbali Zulu said, “Phakamani is like you are in the palm of someone’s hand”.

We are sincerely grateful for the ongoing support we receive from our donors in the United States, Canada, Australia, and South Africa; distributions from the Phakamani Trust; and grant funding from the Jobs Fund.

God bless,


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