We've begun our journey towards sustainability in Kaningo.
CESO Sierra Leone bought and licenced a motor bike for 35, 000,000 Le this is roughly £1,500.
This may seem like a strange purchase, but a motorbike or ocada as it is known as in Sierra Leone, is a usual mode of transport.
This bike has been offered on a hire purchase basis. The client Alusine has signed an agreement to pay 2,000,000 Le every 10 days, which he has been doing diligently. If he continues this way the loan will be paid off in 9 months and a member of the Kaningo community will have a sustainable business.
Next year we will use the same micro finance model to buy a keke. Although the cost of a keke is more expensive it is a more lucrative business. If we are successful in raising £2500 we will be able to run both micro finance projects alongside each other which will increase our return on investment.
We also intend to use the skills centre as a hub for local businesses and traders any return on investment will go towards the upkeep of the building.