July 9
Investing in Viral times, no one is ever too far.
In Zambia, it is not easy to be a business person when loan rates are 27% per year. In November 2019, I engaged with 6 small business owners, some farmers, some bakers, that pool their funds to help each other.
A money pot is created, and profits shared, those with a bit more, are able to help another, who needs to buy seed or other things to grow the business.
A 20, a 10, another 20, a 50 , a 5 and even a 2 are thrown into the pot, based on ability to share from profits, for a total of 107 Zambian Kwatcha, which to give perspective is about US$5.85 or 5.15Euro……from their reality a lot of money, from mine not much. It could not buy you a cup of Venti coffee at Starbucks.
I was invited to see how I could help, by Monde Litungi, who works with women owned business development and was joined by Taddy Manyepo a news reporter from Zimbabwe.
We discussed the nature of their crop and baking businesses and their biggest needs. In Zambia they have two seasons, Dry and Wet. In wet season, too much water not enough sun. In Dry season needed sun but little water, and what water is available is a long walk away. Having to carry water in 20L/5gal buckets, was tiresome and not consistent for growing crops.
We discussed water pumps, gas/petrol or electric. But there was no electricity nearby, and they would have to walk further to get the petrol/gas then the water. The only real option were Trundle pumps; a person operated pump.
It was agreed that they would search out pumps, types and costs and get back to me. And I would try to fund a few of them for the group depending on cost.
This was not to be a gift, the financial arrangement we made, was that I would be paid back out of profits, at the end of one year, at no interest. Additionally, if they are successful in paying me back, I will continue to re-invest, the same amount, each year for their business needs as they grow. If they are unable to pay me back, then I would not be able to reinvest in them, but they could retain what they had.
Over the next few months local made pumps were found, along with extra piping needed to cover the distance from water to field, the pumps were less expensive than I had in mind. I would be able to fund 4 instead of 2 for the 6 businesses. Having shared this story with a Facebook friend Lavena Lary, who lives State Side, she offered to pay for the other 2 pumps, under the same arrangements as me. While Lavena and I have not met, we both worked in similar fields as children picking beans and berries, for local farmers and shops, of our shared town of Tigard, Oregon.
The produce and scones will be sold at roadside shops, similar to our lemonade stands, or in their main town market.
The Trundle Pumps have been bought, the dry season has arrived, and now they are producing more than ever before. I wish them great success, and that they are able to pay us back, so we can invest in them again.
Gertrude Munene and other 5 women and 4 men business consortium, will keep account of their profits and work, to return the funds to me, at no interest charged to them.
Their crops include: Mangambwa, Sindambi, kalembula, libowa and impwa, which includes green beans and tomatoes.
And they also make: Scones/rolls for eating.
With the Trundles they can not only increase the amount of crops, but with the sun and water combo, they can now produce crops year round and not just seasonally.
The plate of food, seen in the photos is called Rape and Nshima. The white food is used as a scoop to collect the green food, and together they are eaten as a meal.
Now having the invested the equivalent of 200 Starbuck coffee’s, with this consortium, while investing in local manufacturers who made the Trundle Pumps, as well as increasing the supply of food for locals, at a time of virus lockdown, and reduction of goods associated.
We wish them success, with their new equipment and opportunities.
I thank Monde for help in organizing this effort, Lavena LaVena Lary for helping finance and it and Journalist Tadious Manyepo for being there record our initial meeting. Also appreciation to Godfrey S Likezo and Michael Litebele Jr. of Cultural Heritage International, CHI, Mongu, Zambia for helping to supply some of the photos for this story.