Microfinance

Income generation is a crucial strategy for alleviating poverty, particularly in  a developing country like Sierra Leone where economic inequality is prevalent, were more than 60% of the population survives with less than $2 a day. This approach focuses on creating opportunities for survivors and other beneficiaries in their communities to earn sustainable incomes, thereby reducing dependency on aid and fostering economic self-reliance. Key mechanisms for income generation include employment creation, entrepreneurship, microfinance,  and access to markets. By providing skills training, access to credit, and enabling policy environments, marginalized populations can participate more effectively in economic activities. Additionally, fostering small and medium enterprises (SMEs) and integrating them into larger value chains.

True Hope Foundation offers microfinance programs to our beneficiaries.  We give out soft loans to some of the parents and guardians of some of our survivors who are minors so that it will either create a source of livelihood and also boost their income source. These microfinance loan will create a constant source of income to our beneficiaries thereby upgrading their status from a state of dependency on aid or begging from business owners, with this business or petty trading; survivors and their families will be able to provide basic needs.

This is one of True Hope Foundation’s schemes of eradicating poverty to our beneficiaries from a state of abject poverty to income earner. This scheme will enable our beneficiaries to be business owners whilst paying back so others who are poor and not privileged will benefit from the scheme. This system makes the process sustainable for our target population. However, successful poverty alleviation through income generation requires a holistic approach that includes social protection measures, infrastructure development, and inclusive economic policies to address systemic barriers.

US Office

617-602-9660

contact@truehopefoundation.org

108 Wilmington Avenue, Apt 1 Dorchester, MA 02124

Sierra Leone Office

+232 79 464631

35 Mends Street, Western Area Freetown, Sierra Leone