Antibes, France (PRWEB) October 01, 2014
The Prospero Foundation, founded by Ulrik DeBo of DeBondo Capital, is excited to announce that a microloan donation has been made to Pedzisai, the owner of a retail shop in Bulawayo, the second largest city in Zimbabwe.
Pedzisai is 36 years old, married with three children, and has been running a clothing shop for fourteen years. Over time he has built up the business to the point of hiring three employees to support him. He has now reached the stage where he is struggling to meet the demand of his customers due to the lack of working capital. The microloan donation will allow him to purchase new stock for resale, allowing him to increase his profits, educate his children and eventually fulfil his dream of opening his own clothing boutique.
About Micro-lending with The Prospero Foundation
Through partnerships with local lending institutions, the Prospero Foundation contributes capital for the purpose of small business loans to these micro-entrepreneurs in developing nations. Through these partnerships, the Foundation helps small business people such as farmers, shopkeepers, and artisans build their businesses and in turn stimulate economic development in their communities. In this case, a local company called MicroKing Finance has administered the loan. MicroKing’s mandate is to provide financial and advisory services, as well as training to the under-funded but rapidly growing Zimbabwean micro-enterprise sector. The intent is to mobilise the underprivileged as active agents in fighting poverty as well as to accelerate the country’s journey back to economic prosperity where Zimbabwe was once known as the “bread basket of Africa.”
About The Prospero Foundation
The Prospero Foundation is a private, international charitable foundation founded by Ulrik DeBo. Mr DeBo, a lifelong entrepreneur, whose upbringing and eventual success in the finance industry, through his company DeBondo Capital Ltd, gave him the relevant experience and insight required.
The foundation is run by a global network of entrepreneurs, who raise funds privately amongst their business contacts, and choose to invest them using a 'pay-it-forward' philosophy to focus on charitable projects that promise to perpetuate a chain reaction of positive growth opportunities for individuals and local communities for generations to come.
It is a foundation that empowers citizens to help themselves and those around them.
For additional information, please visit http://www.prosperofoundation.org
Prospero EnFrance (Registration No: W061004154)