Phakamani Foundation helps poor entrepreneurs lift themselves out of poverty through self-employment. We provide training, micro-enterprise loans (no collateral required) and a group support system, leading to income, savings and hope for entire families.
Phakamani is a non-profit organisation that is charitable in its:
- Intent – it's whole purpose is to meet the needs of poor communities without any benefit to itself.
- Structure – it is a registered not-for-profit company (NPO, Section 21 in South African terms) – no funds can be distributed to the directors or the board. Phakamani is also a registered public benefit organisation (PBO).
- Resources – far more resources are dedicated to the success of our “clients” than would exist in any non-charitable for-profit company offering micro-loans needed for business start-up and working capital. We believe training and support are essential ingredients for success for all entrepreneurs, whether rich or poor.
- Relief of Poverty Goals – every goal is directed at the success of the borrowers. All borrowers/beneficiaries are impoverished, unemployed women living in rural and peri-urban areas of South Africa.
- Spiritual Goals – Phakamani is an organisation founded on Christian principles to serve all people irrespective of colour, creed or religion. Through our service, however, we do aim to make a spiritual difference within the Phakamani community.
Phakamani means “rise up” in isiZulu, and is pronounced, “pug – ah – ma – nee.”
Success for our borrowers means that they no longer fret about many things that wealthier people take for granted: a roof that does not leak, at least two nutritious meals a day for the family, the ability to pay for school fees and books, access to a local health clinic, etc.
It also means economic independence, confidence, new skills, strong community ties and a greater ability to cope with small set-backs that can happen in any life.
Phakamani only lends money to those who are prepared to help themselves – we are not a charity in the usual sense of the word. What we do is provide capital and then create support systems around the borrowers so that they will succeed. When the loans are paid back they are re-cycled to assist another entrepreneur. Every Rand and Dollar is therefore leveraged to help as many people as possible.
