UK Payday Lender Supports Charity to Fund African Financial Programs
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UK Payday Lender Supports Charity to Fund African Financial Programs
A British payday loan company has been earning itself some well-deserved pub for their altruistic endeavors in Africa.
Payday Express, a company that offers payday loans and check cashing services, has been making donations every other month to a charity named Build Africa that establishes local credit unions and helps build schools across Uganda and Kenya.
The company sponsors the Village Savings and Loan Associations Project that organizes local groups in impoverished communities to pool together savings to help members when they are in need. Essentially, these groups create village-wide insurance plans to help members afford loans, medical expenses and other needs inaccessible to a typical rural family.
These groups receive little external funding, but Payday Express’s contributions will help set up and maintain six of these groups, and help train the members about money management and basic finance. So far at least 1183 Village Savings and Loan Associations have been funded.
Build Africa, formerly known as International Care and Relief, broke off from its parent, an American charity known as International Christian Relief. Based out of Turnbridge Wells, England, Build Africa focuses its efforts on improving the lives of children by supplying books, desks and training for teachers in schools. They also help support school management committees. So far Build Africa has worked with over 115 schools.
The Build an Income project also works to create sustainable avenues for raising wages for the poor, and provide food and healthcare for children. Their goal is to help improve the lives of children in ways that promote a lasting trickle-down effect throughout the community.
Uganda is one of the poorest countries in the world with 37% of their population living on less than $1.25 a day. The government has acknowledged that their poverty is in part due to a gross inequality between the rights, roles and wages of men and women.
