Progress Luse 0601 Group

In the Southern Province of Zambia is a group called Progress Luse 0601, It consists of five women entrepreneurs who have come together with a goal of achieving financial independence whilst providing for 42 children under their care. They have an average age of 38 years old and operate different businesses ranging from salons, fish trading and grocery stores.

At 33, Yovone is a testament to the power of resilience. A dedicated entrepreneur and the pillar of a bustling household, Yovone operates a local hair salon while raising four children and providing a loving home for an orphaned relative.

For Yovone, the salon is more than just a place for beauty; it is the engine that drives her family’s stability. However, like many ambitious small business owners, she reached a point where demand outpaced her available capital. From her previous loan she was able to scale up her business by ordering more quality affordable wigs whilst sponsoring her four children to school.

Yovone has sought a share of the group loan as she wants to modernise her salon and buy wigs that are currently trending. Other members want to order more inventory too.

The Microloan Foundation, Lendwithcare's local partner in Zambia employs a unique 'centre' model for lending to female entrepreneurs. A centre comprises several sub-groups which share the same name as the centre. As such, you may have seen similarly named group loans from Zambia all belonging to the same centre. In this system, each woman is individually responsible for repaying her loan, but the group offers mutual support by assuming overall responsibility together.