Wakibi is an organisation that gives microcredits to entrepreneurs in developing countries. It does so by putting profiles of entrepreneurs on its website and enabling visitors to lend them money. This loan goes via the Kiva network and local field partners to the microentrepreneur. Then, over the course of 6 to 12 months, the loan will be repaid to you, so you can lend it again. This is a great concept, and Jeffrey and Twan are passionate about supporting it.
Microfinancing means financing entrepreneurship, and is seen as one of the most efficient forms of development aid.
How does it work?
You can easily lend money to entrepreneurs in developing countries. Just create an account on Wakibi.nl or Kiva.org, choose an entrepreneur whose story you like and lend him or her €22 or more. Over the course of six to 12 months, this sum is paid back to you so that you can lend it out again. So, you won’t just be giving away €22, because with a repayment percentage of 98.9%, you can loan your money out again many times.