Why I #Run50Raise50
"Capital is very expensive and you need a lot of collateral. You need to have land — but as a woman it's even harder, because women don't always own land."
When Susan Namirimu set up Mtindo Design Studio and Academy she knew she wanted to tackle the huge rate of unemployment (60%) for women in Northen Uganda, and she saw the potential in the tailoring and apparel industry. Mtindo is now training hundreds of young women each year, some of whom go on to work in the Mtindo Design Studio, while others have the skills to set up their own tailoring businesses. Mtindo can now serve hundreds of customers with quality garments.
I asked Susan to share what an affordable loan from 3rd Creek Foundation meant to her business and the women she works with.
This August, I'm running 50 kilometers to raise $50,000 for 3rd Creek partners and all the funds raised go directly towards affordable loans for businesses like Susan’s. These businesses struggle to access traditional funding in their local markets, due to heavy requirements for collateral that can exclude women or steep interest rates.
With the right capital, these businesses can create dignified, sustainable jobs in their communities. And when a loan is repaid is recycled and goes to the next business.
Your donation to #run50raise50 will allow us to support other businesses like Mtindo, and other entrepreneurs like Susan, who have their communities at the heart of the work they do.
Thank you for taking the time to watch Susan's story, and for being part of this run.
Gwen Straley
Gwen Straley is the Executive Director and Board President of 3rd Creek Foundation