Deki now offering loans in Togo after creating new relationship with Field Partner

The amount of Deki lenders has grown massively, in recent months, and so therefore, has the appetite for stopping poverty and empowering those who want to change their lives for the better. In order to satisfy the ever-increasing demand for Deki entrepreneurs, Deki are always looking to increase the number of countries we operate in by creating relationships with new field partners.

In an effort to expand our horizons we have appointed a new field partner in Togo, IADES – l’Institution d’Aide au Development Economique et Social. IADES are an organization based in Lomé, fighting for the economic and social advancement of low-income, working families across the Sothern region of the country.

Life is a struggle for many in Togo where over 50% of the population live in poverty. In rural areas people keep chickens, raise a few sheep or goats; grow crops such as beans, cassava, millet, palm kernels, sorghum and yam; and in August they grow maize which, with a successful yield, may sustain the family through the lean or hungry season where there is distinct shortage of food. In urban areas people trade goods – household goods, groceries, shoes – or offer hairdressing or sewing to be able to put food on their family’s plate.

As well as hunger and malnutrition, gender inequality is a huge issue in Togo. Ranked 162nd out of 188 countries in the 2015 Gender Inequality Index (GII), Togo is one of the worst countries in the world for women to live in. Many women are subjected to female genital mutilation and generally speaking, women are expected to carry out the vast majority of manual labour for the family household.

Central to IADE’s social mission is the desire to rid Togo of this gender disparity and empower women through microloans intended to give its female recipients a hand up in life and a greater sense of independence. Togo is seen as the perfect example of how microfinance can make a significant difference to helping people out of poverty. Less than 5% of the adult population has a bank account; everyone uses cash and without the means to build a business families struggle to put food on the family table, let alone send their children to school.

IADES offer microloans, savings plans and business training to their clients. They provide workshops on business practice, gender equality and domestic violence to strengthen the community of women who receive 90% of IADES’ loans. The profits made from a client’s small business allow them to feed their children with nutritious meals, pay for school uniforms or secondary schooling and buy medicine for sick members of their family.

Christian E. KADANGAH executive director of IADES said of the partnership with Deki ‘We are delighted to have formed a partnership with an organisation such as Deki. We have huge numbers of entrepreneurs waiting for financial support and we are now confident with the help of Deki, we can start to change lives’.

Lending to entrepreneurs through Deki makes an enormous difference to the lives of those who are considered by the commercial banks to be un-creditworthy. Check out the new entrepreneurs from Togo.