San Mateo Rotarians joined forces with students from the Effect and visited women microcredit loan recipients in several locations in Guatemala during the week of June 4th. The women shared their personal stories of how difficult it is for women to achieve economic autonomy in Guatemala. Some sobering statistics:
60% of Guatemala's population lives in poverty
Guatemala has the 3rd highest rate of violent deaths for women in the world
Women have very few employment opportunities
Over 70% of Guatemalan women are self-employed in the informal workforce
As they try to make ends meet for their families, Guatemalan women often fall prey to loan sharks who charge exorbitant interest rates, making it almost impossible to repay their loans.
Namaste's emphasis on microcredit loans provides women with the capital needed to start small businesses but at a much more reasonable interest rate. Rotarians and the Effect students had the chance to meet many women and learn how receiving a microcredit loan has helped them create successful businesses, improve their economic well-being, and provide for their families.
Empowering women to be economically independent is a key goal of Namaste's work in Guatemala. Rotarians and Effecters heard from microcredit loan recipients in Antigua about their businesses and how the microcredit loan helped them launch successful businesses, including snack shops, tortilla making, clothing sales, and a wellness center, to name a few. This photo captures the pride and empowerment they feel as successful entrepreneurs.
Francis invited Rotarians and Effecters to her home in a rural area where she shared her three businesses, including a snack shop, tortilla production, and pharmacy. She has been so successful that she now serves as a mentor to other women who are beginning new businesses.
Women shared how much they've learned about financial literacy and basic business skills, thanks to Namaste's microcredit loans and the coaching provided. Most Guatemalan women have only completed 4th grade so financial literacy training is invaluable.
After a full day of visiting with microcredit recipients, Rotarians head for dinner in downtown Antigua, walking toward the Santa Catalina Arch with Acatenango Volcano looming in the background. Antigua is famous for its cobble-stoned streets & sidewalks.
Francis met with the group in a covered area between her home and snack shop. The afternoon was quite hot & humid so Rotarians & Effecters eagerly savored ice cream and popsicles from the snack shop.
President John purchased a pound of Guatemalan coffee roasted & sold by this individual, thanks to a microcredit loan. She is in business with her husband. Your Spinnings editor is pleased to report the coffee is delicious and a great start to the morning!
For many years Don Leydig has been a key player in the partnership between Rotary, the Effect, and Namaste. Here he jauntily sports a translation device that was vital to understanding the Mini-Conference which was conducted in Spanish.
Effecters and Rotarians joined a one-day mini-conference where potential microcredit recipients came together to learn about the services offered through Namaste and to work on goal-setting for the businesses they would like to start.
Namaste Executive Director Desiree Lyons takes a moment to share insights about the mini-conference proceedings with students from the Effect who were completely engaged in the day's activities and enjoyed the chance to meet with the conference participants.
One of Namaste's newest projects is a mentoring program where women who have started successful businesses can provide coaching and assistance to new microcredit recipients. The mentors ride all over rural Guatemala on motorbikes to meet with their mentees.
