Between December 2017 and today, GivHOPE has reached out to several street children who want to become financially autonomous through the consultation of 14 vulnerable young boys and girls for micro projects initiative under GivHOPE financing.
18 vulnerable youths and families have so far received a total amount of 1,273,450.00 XAF. There is a great need for this kind of assistance and we look forward to having more partners/sponsors in this component of GivHOPE agenda.
This is how this loan works: GivHOPE interviews youths who fulfill the conditions of the program and helps them write a business plan because many of them don’t know how to write. This plan is presented to a panel that evaluates each need. Both parties sit down and discuss plan per plan and when agreements are reached, a contract is signed before a competent authority. We must admit that this loan is reimbursable with no interest and a grace period from 1 to 3 months according to the amount is granted to the beneficiaries. In doing so, it allows many youths to enroll because when the capital is paid back, it helps bring others into the program. We are in our third year in 2018 and have given loans to 18 youths amounted 1, 273,450.00 XAF. We are encouraged to continue, though not all past recipients reimbursed their loans.
According to Pieume, there is a real need to improve opportunities for these vulnerable Cameroonians and help them become men and women able to face their own destiny in a variety of areas, including job opportunities and self-employment.
The 12 beneficiaries of this year will operate in carpentry, cuisine, bakery, agriculture, hair dressing, construction materials rental, children clothing business in Yaoundé and its environs and the official handover ceremony will take place on February 14, 2018 at ENKO “La Gaité” premises.
We are very grateful to GivHOPE and its partners/sponsors because we will encourage more street children and youths to quit the street and join us”, said Richard.