Five Talents' mission is to fight poverty, create jobs and transform lives by empowering the poor in developing countries.
Five Talents supports business training, innovative savings and micro-credit programmes in the third world. Five Talents currently has branches in Africa, Asia and Latin America, with around 20,000 clients.
Money donated to Five Talents is used to offer loans to entrepreneurs who wish to start or expand a business. Loans varies from £20 to £300 and repayment rates exist in projects between 95-100%. Two-thirds of the entrepreneurs are women, and the impact of these flourishing businesses is huge. Through income from their businesses families can begin to afford food, health care, education and clean water.
In addition, the funds have the potential to be recycled through the loan process, with money being recycled up to four or five times! This enabes the donation to reach a larger number of the poor than normal charitable aid. In 2004 the Anglican Diocese of Thika created the Thika Community Development Trust (TCDT) as a registered NGO. The Trust operates a savings and credit programme that is empowering poor entrepreneurs, a majority of whom are women, to create new jobs and sustain small businesses. The Trust works with groups known as "Trust Groups" with around 16 members each. Each group meets weekly to save. By the end of 2010, there were 29 groups and 2,272 members. They have saved a total of £237,321 over 6 years. Many Groups are now loaning their capital to their members as small loans to help boost their individual businesses – such as tailoring, kiosks, bicycle repairs. They have a 100% repayment record. This is a remarkable achievement, based on adapting a locally trusted model with good governance.
Goals of Thika Community Development Trust
The Thika Community Development Trust plans to:
-Establish 6 new Trust Groups.
-Convert the two largest existing Trust Groups into community banks, to be run and managed by group members.
-Conduct more business training and life-skills for all Trust Group members.
-Increase the size of the accumulated savings.
-Expand services into the neighbouring diocese of Embu.
Environmental Goods or Services
Primary Country Where Active:
Location (Town, City, District or Region)
Postal Address (Main Contact)
4th FloorPark House 22 Park Street Croydon CR0 1YE