FAMMI and Microfinance
FAMMI is a social enterprise and therefore operates on the “Double Bottom Line” principle – a commercial bottom line and a social bottom line.
First, it is a profit-generating organisation – not a charity. FAMMI seeks to operate on a sound commercial basis with the focused ambition of generating a cash surplus.
Secondly, a sustainable percentage of the surplus generated will be used as microfinance seed money. Micro-loans will be granted to finance entrepreneurial ventures and education, specifically for street children, ex-street children and slum families.
The microfinance seed money is provided as a loan, not as a “gift”. Microfinance loans are contingent upon acceptance of a business plan and agreed repayment schedules. The FAMMI microfinance team will provide business support, coaching and mentoring for entrepreneurs who qualify for micro loans.