Empowering Women through Microfinance
By Frankie Hewitson (Lead Consultant and Director)
Image from WMI
Empowering Women through Microfinance: My Ongoing Commitment to Change Lives in West Africa
As a female business owner, I've always believed in the incredible power of women to change the world. I'm excited to share a milestone that means so much to me: Through The Chain, we have contributed towards business loans to 1,000 women in West Africa. Women’s Microfinance Initiative (WMI) is on a mission and we have donated enough to give loans to a whole village. Helping WMI on their mission. This isn't just something we're doing for International Women's Day—it's a promise I've made to myself, this incredible initiative, and most importantly, to these women. Whenever someone joins our platform, The Chain, I will support this cause. It's my way of making sure that women everywhere have the chance to create their own futures, start their own businesses, like i have, and it's something I'm deeply committed to.
Why Microfinance for Women?
Access to financial resources can be a game-changer for millions of women worldwide. Unfortunately, women are still left out of traditional economic systems in many parts of the world. Studies show that over 1 billion women still don't have access to the financial tools that could help them build businesses and thrive. This is where microfinance comes in.
Microfinance provides small loans to women, allowing them to start or grow their own businesses and, in doing so, lift themselves out of poverty. It will enable them to be independent, invest in their families, and have a say in their future. The impact of these loans goes beyond just the women who receive them—it transforms entire communities, creating a ripple effect of positive change that can last for generations.
The Power of Microfinance: Real Impact
Microfinance is powerful. It's more than just a loan; it's an opportunity. Women who receive these loans often use the money to start small businesses like farming, food processing, or retail. According to the Microcredit Summit Campaign, over 140 million women have benefited from microfinance worldwide. And I know that women are incredible reinvestors—they use up to 90% of their income to support their families, compared to just 30-40% for men (Source: UN Women). So, when we invest in a woman's business, we're not just supporting her—we're supporting entire families and communities.
The Village We're Helping: 1,000 Women, 1,000 Opportunities
This recent support helping Women’s Microfinance Initiative, to reach 1,000 women in a West African village is more than just a number. It represents real lives, real dreams, and real futures being changed. These women can now take the first steps toward building businesses that will improve their lives, create jobs, provide for their families, and support their communities.
To break it down:
1,000 women will have the financial support to start or grow businesses, ranging from agriculture to small retail shops.
These loans will indirectly impact around 5,000 people—their families, friends, and community members—helping to create a stronger, more resilient local economy.
By investing in these businesses, we're creating lasting opportunities for education, healthcare, and well-being. Financially empowered women reinvest in their children's education, healthcare, and futures.
The WMI loan program gives women the opportunity to build a business that can generate income to improve household living standards. Year after year the loan program achieves impressive results, such as:
Incomes increase 100 - 400% after first 6 months
Savings increase by 500%
Women prioritize spending their income on education, food and healthcare for their families
88% of women in malarial areas buy more mosquito nets
75% of women report improved reading, writing or arithmetic skills
Women in rural Uganda are buying land and building permanent houses
They are opening bank accounts and using ATM cards
Domestic violence has decreased - husbands and wives are working together
This isn't just about business—it's about transformation.
Why This Matters So Much.
50% of women in Sub-Saharan Africa live on less than $1.90 a day—it's a shocking statistic, but it also drives me to make a difference. By supporting women entrepreneurs, we can help break the cycle of poverty, improve lives, and build stronger communities.
I created The Chain to help SME fashion brands access to their supply chains and ensure ethical responsibility. I have been told by many (business owners & investors primarily) I could charge thousands more, but instead I'm charging very little. I decided to do this because I'm committed to equality, empowerment, and lifting up those who need it most. The less SME brands pay for tech tools profiting the already financially secure, I can work with these brands to invest more in projects like the Women's Microfinance Initiative and truly make a lasting difference.
For me, this isn't just about a donation—it's about creating something bigger. It's about ensuring every woman has a chance to succeed, lead, and make the life she deserves. It's about building a world where women survive and thrive.
Looking Ahead: This is Just the Beginning
With every sign-up, I'm not just building my own business as a woman—I'm hoping to build a better future for women in Africa. I've only just started (launched last week), and with our current and future clients, I'm excited to see how our efforts grow.
Over 2.7 billion people still lack access to basic financial services globally, and women are disproportionately affected. But every step we take together gets us closer to a world where access to opportunity isn't a privilege—it's a right.
So, finally, a huge thank you, to Women Microfinance Initiative (WMI) for providing such a fantastic program and making it easy for people to support other women.
Image from WMI website
About Women's Microfinance Initiative
Women's Microfinance Initiative (WMI) is a non-profit organisation founded by a network of professional women in the Washington, D.C. area.
WMI makes loans available to impoverished women without access to banking services. Issuing affordable, collateral-free loans for as little as $50, WMI promotes women's economic participation and carries the hope of prosperity to poor, rural areas of Uganda, Kenya and Tanzania. Microfinance helps the poor grow tiny businesses to generate income that they can use for basic needs, education, healthcare, and savings. After two years in the WMI village-level loan program, women can transition to bank loans, or their businesses can become self-financing. They achieve financial autonomy and join their country's formal economy.
WMI distributes loans through village-level organisations and works with these partners to develop social outreach networks.
WMI is a transparent, home-grown, non-profit organisation dedicated to non-exploitive lending practices. It has no debt and minimal overhead costs: all U.S.-based board members, interns, and staff work on a volunteer basis.
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