Koshi Yomuti: Banking Under the Tree

This book illustrates the social and economic impact of microfinance in the rural areas of Northern Namibia through client stories.

It presents the stories of 11 microentrepreneurs, who are members of Koshi Yomuti a Microfinance Associations network. The project's intensive capacity-building efforts have enabled the creation of financial services for a growing number of poor people. The project has allocated more than 5,000 credits, with amounts ranging from N$500 to N$20,000.

These stories, representative of a large number of people in Namibia, show that poverty does not mean inability, but lack of choice. These examples show how access to savings and credit allows for asset creation and decreasing vulnerability through hard work. The stories demonstrate that poor people:

• Face struggles everyday, but are responsible and courageous;
• Cope with various forms of vulnerability, often not in a conducive environment;
• Want to be considered as serious entrepreneurs, understanding market opportunities, combining resources and developing medium-term strategies;
• Use strategies that are as sophisticated as those of small and medium enterprises in first world countries.