The Zambian Development Support Foundation, a micro-finance program, began as a result of the partnership between the Class of 2009 and villagers in the Copperbelt Region of Zambia (near Ndola) with which they worked.  Below is a report submitted by Mr. Voster Tembo, board member of the ZDSF and partner with the Periclean Scholars since late 2008.

FROM THE BOARD OF DIRECTORS

Happy New Year to everyone especially to our supporters and the beneficiaries of loans. It is a great start for the year for Zambian Development Support Foundation (ZDSF) to highlight the project background and its long-term vision of expanding its work to other communities within and outside of Copperbelt province.

Here is a photo of some beneficiaries of ZDSF loans.

From left to right: kneeling, Augustine Phiri, Rosemary  Mulenga, Florence  Mvula ,Bernadette Mwila and Rodah Muwowo and standing from left to right: Calolaine Kadewele, Barnabas Chisha, Milo Baila, Nkandu Ngosa, Enaya Chama,Sara Muna, Susan Chibale, Mary Bwalya, Grace Mwenge, Chileshe Chama, Mary Bwalya (ZDSF community Treasurer) and Jedo Chibale.

ORGANIZATION BACKGROUND

ZDSF was founded and officially registered in May of 2013 and is possession of  certificates of registration with regulatory bodies of the Republic of Zambia namely Patents and Companies Registration Agency (PACRA) and the Zambia Revenue Authority (ZRA)

• Vision:  To economically empower communities for sustainable development around Zambia

• MISSION:  The organization’s mission is to empower small- medium scale business traders particularly women through provision with of loans.

•  GOAL:  To increase the capital base from the current $6, 300.00 to $30,000.00 by August 2014 for the expansion of project in communities around Copperbelt.

•  GOVERNANCE:  Zambian Development Support Foundation is a Community Based Organization born out of community interest and demand for capital access to grow and expand their small to medium business locally in Chipulukusu community. Therefore the organization leadership consists of the 5 local members of the Board of Directors with the representation of four men and a woman. The Core function of the ZDSF Board is mandated mainly to govern the operations of the organization, including approving loan disbursements; management of loans recoveries and reporting to supporters on regular basis

• OPERATIONAL AREAS:  The Zambian Development Support Foundation (ZDSF) is currently operating in Chipulukusu community in Ndola, where micro finance pilot project is being implemented. The organization uses the revolving fund system to provide group loans to community members interested with the repayment within period of 3 months. The approach to providing group loans guarantees fully recovery of loans from each group. The pilot project has so far worked well in the community with an overwhelming response from the current beneficiaries the need and increasing demand to access loans to expand on their business. As it is usually the case and said, Great things start small

• INITIAL PROJECT CAPITAL:  Zambian Development Support Foundation (ZDSF) started the micro lending project with an initial capital funding of $ 2,400.00 from its major funder, Pericles Alumni Association of Elon University, North Carolina of the United States of America. The funds were received in the organization bank account held with the local Barclays Bank Plc. In addition, the project received IPAD equipment, as the donation from Pericles Alumni Association of Elon University of North Carolina, United States of America to enhance administration and data management of the project. The Board of Directors decided to invest $1,900.00 (79.17%) of the total initial capital on loans disbursements to group members The balance of $500.00 (20.83%) was administrative costs on stationary, monitoring and evaluation and communication.

The ZDSF further received the total donation of €3,000.00 for the project from the close friend and friend to him, who were approached and showed interest to support the project too. The identities of two individual donors who donated €1000.00 and €2,000.00 respectively have been withheld at request.   .  The monitoring and evaluation exercise was recently carried out to beneficiaries’ of ZDSF group loans disbursed in Chipulukusu community in Ndola.

Here are photos highlights from individual beneficiaries’ sampled type of businesses that are running.

Mary Bwalya at her small shop at Chipulukusu market: she used to sell only two tray of eggs but is able to order eight. She has been able also to buy a sewing machine that will be paying in installments. All this is as a result of the two loans she has obtained from ZDSF.

The Zambian Development Support Foundation (ZDSF) Board of Directors and on behalf of its clients express our sincere gratitude and appreciation to the Periclean Scholar Alumni Association of Elon University for social and financial support in setting up the project to become a reality. The funder supported with the ideas and the initial capital for the project. Our sincere thanks is extended to two friends and supporters from the Ireland Republic for their generous donation that demonstrate their belief and trust in our ideas and extending their hearts and love to the people of Zambia through our institution, ZDSF.

 PROJECT ACTIVITIES

• Training in financial management
• Training in skills development and entrepreneurship for youths
• Disbursement and recoveries of loans at 10% fixed interest rate on total amount loaned.
• Training in HIV/AIDS to the target group

ACHIEVEMENTS

Zambian Development Support Foundation has record successes since the month of May 2013 when it was established;

1. Registered with Patents and Companies Registration Agency (PACRA), a regulatory Board mandated with registration of companies, associations and foundations. The organization received approved certificate of registration on the 30^th May 2013.

1. Registered with Zambia Revenue Authority (ZRA), a regulatory Board mandated with registration of companies for tax purposes and clearance. The organization received approved certificate of registration.

3. Disbursed group loans amounting to $5,355.76

• $1, 900 (79.17%) of the initial funding received from Periclean Scholar Alumni Association was first disbursed as loans to 3 groups of 5 members with each group having the chairperson and treasurer elected. The total individual beneficiaries add up to 15.
• Project monitoring tools such as receipt with headed official self-carbonated pages as complied with the national laws of Zambia.
• 100% loan recovery was recorded within the three month repayment period as at 23^rd December 2013.

4. Received additional funding of €3,000.00 from two individual donors that resulted in increase of the capital base for the project.

• Managed to disburse second loans from two funding streams that have resulted in increased number of groups from initial three to six groups of 5 members with an extra individual to form the seventh group. Therefore, the total individual beneficiaries accessing loans currently stands at 31 with 8 on the waiting list.

5. Received iPad, an office equipment as the donation from Periclean Scholar Alumni Association of Elon University of North Carolina, United States of America.

• The equipment is being used for administration and data management purposes for the project.

Jedo Chibale and his daughter Bupe in their hardware store at Chipulukusu market, he got the loan to restock his store that was almost closing.

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