Helping woman-owned businesses abroad. Jacobs supports the Phakamani Foundation
Jacobs is pleased to announce our support of the Phakamani Foundation. Phakamani’s mission is to empower women in South Africa to succeed at micro-enterprise. When a Phakamani loan enables a woman to grow a business and create opportunity for herself, it creates opportunities for others as well. That ripple effect can shape the future for a family or an entire community.
“I had the opportunity to visit South Africa last year and learn how microloan organizations are creating opportunities where all people hold the power to create opportunity for themselves and others. I met with the Phakamani Foundation and meeting with the women they serve was truly incredible,” says Jacobs President Jackie Gibney, “I'm grateful for the opportunity to learn more about them, the values, and reflect on my own personal leadership.”
Here’s how the program works:
The woman identifies an opportunity; where there is a need that is not being met. For example: a woman who noticed people needed to walk far to buy chickens.
Training- Phakamani cares about their clients’ well being. They receive education and training in business skills as well as personal (health, finance, etc). Foundational skills, yet very critical.
Community- Mini groups hold each other accountable, help each other, learn from each other, take care of each other’s babies, challenge each other, raise others up, and believe in each other. None of this would work without this part. They sing and dance at the beginning and end of each meeting.
Phakamani means “rise up” in isiZulu
The average 3 month loan is $80 with a payback rate of 99%. 70% of the women are single mothers and these women use their profits for things like: drinking water in the home, sending their children to school, providing safety measures, and feeding their children. The mission and values of empowering women and forming a community aligns perfectly with the value of Jacobs. Jacobs financial support of the Phakamani Foundation will empower over 140 woman-owned businesses each year. We are excited to see the results and impact woman-owned businesses at home and abroad!
To learn more about the Phakamani Foundation visit phakamanifoundation.org