Resource Developments -
[Cached Version]
Published on: 9/1/2008
Last Visited: 10/31/2009
Jennifer Broome, RDG Partner, discusses business plans and micro-loan repayment schedules with Mercy Economic Development clients in Benin, West Africa.
Jennifer Broome, Partner with Resource Development Group, recently travelled to Ghana and Benin, West Africa to provide expertise on economic and business development with Mercy Economic Development International Corporation, a faith-based, international non- profit organization that seeks to use microfinance tools to help alleviate extreme poverty in the developing world.
Jennifer spent almost two weeks meeting with micro-entrepreneurs, micro- loan recipients, and representatives of Mercy Economic Development in Benin and Ghana.
Jennifer offered consulting services on business development and planning to Mercy Economic Development's clients, and provided strategic planning guidance on marketing and fund development to the governing boards of the organization's affiliates in West Africa.
M.E.D.I.C. believes that poverty is a multi-faceted problem that requires a comprehensive approach to solutions for both individuals and communities, using a sustainable model that is built upon Judeo-Christian and democratic principles.
Traditional forms of charity and aid have been shown to create cycles of dependency, while microfinance, including microcredit and micro-insurance, enable empowerment by providing the tools by which enterprising individuals can create their own sources of sustainable income.
Jennifer Broome meets with a micro-loan recipient and trust bank president in Accra, Ghana.
This Mercy Economic Development client used her small loan of about $250 USD to buy the freezer in the picture's background which enabled her to begin selling milk, yogurt, and ice cream in her small store.
The profits from the venture have allowed her to repay the loan in six months and send her three children to school.