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Hope Micro: Saving over 20,000 Poor People

Hope Micro: Saving over 20,000 Poor People

Hope Micro (an NGO) situated at 5 Bailey Street, Freetown, one of the leading micro finance institutions in Sierra Leone, has since its establishment in February of 2002 bailed over twenty thousand poor Sierra Leoneans out of poverty through its almost charity-based micro finance scheme.

Headed by Reverend S D Kanu, Sierra Express has learnt that Hope Micro in just a short time of its establishment has acquired a total of over 20,007 active clients operating on a gross portfolio of 905,762 United States dollars.

Hope Micro, whose mission is to provide financial services for the poor, in a manner that is sustainable, readily accessible, and responsive to their needs has been branded as operating one of the most viable micro credit loan schemes in Sierra Leone; targeting the poor, mostly small business owners, as well as low income earners to build their capacity and improve their standards of living though out the country.

Targeting the improvement of the welfare of both sexes’ mostly family people, the micro finance institution has positively impacted the lives of poor people, with more sustained patronage than many other micro credit institutions, chiefly because of its reasonableness in dealing with the poor man. Every morning, hundreds of people line up to benefit from the scheme, old as well and young, men and women, who prefer Hope Micro’s loan policy to that of the banks and other profit base micro credit schemes.  

Hope Micro started in 2002 as the Micro Enterprise Development (MED) project of World Hope International in Sierra Leone. In January 2005 Hope Micro was formally registered with the Government of Sierra Leone as a local, microfinance-specific, independent nongovernmental organization (NGO) separate from World Hope International; it mother institution.
Hope Micro operated on a five year business plan (2005-2009) that focused on Strengthening Institutional and Human Resource Capacity at Management, Staff and Board levels and Expanding Outreach to the poor.
Findings indicate that between 2005 -2006, Management and Staff capacity of the scheme has strengthened considerably through local and international workshops. Front and back office systems have likewise been strengthened through technical assistance amd partnerships, which is probably one the reasons responsible for the phenomenal success of the institution in aiding the poor in Sierra Leone.

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