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Meet One of Our Borrowers
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Shiwahiade Munuo
A few years ago, Tanzanian coffee farmer Shiwahiade Munuo almost gave up growing coffee, and for good reason. Because the low-tech processing method she was using could not consistently produce high-quality coffee, Munuo could only get very low prices for her product. And despite joining Kishisha Farmer Association (part of KILICAFE) in 2004, she struggled to make a living.
Then Root Capital entered the picture.
In 2006, Root Capital provided KILICAFE with a loan that allowed the association to purchase 22 highly efficient depulping machines. With these new machines, KILICAFE has increased coffee quality and income, created employment, and decreased polluted water, making a huge difference in the lives of farmers like Munuo.
"In 2005, we were selling one kilogram of coffee for 1000 shillings. After acquiring the coffee washing station, we now earn 1900 shillings," she said."Our kids no longer have to help us with work, so they have time to sit down and study for school.”
Now
that’sa return on investment.
To learn more about Shiwahiade Munuo and Kilicafe, watch our new Uncommon Heroes Film.
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Donate Now and Double
Your Impact!
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Thanks to a generous donor who has extended its offer to match current donations, every dollar you give to Root Capital will be doubled!
Donate now to double your contribution to building sustainable livelihoods and transforming rural communities throughout the developing world.
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“Today, too many entrepreneurs can’t access the capital to start, operate, or grow their business. Too many dreams are being deferred or denied by a form letter canceling a line of credit.”
-President Barack Obama, March 16, 2009
Dear Friends,
A few weeks ago, I read an article in The New York Times about President Obama’s plan to aid small businesses in our country by easing credit constraints in order to rebuild the failing economy. The White House noted that over the last decade, small companies had generated some 70 percent of net new jobs annually. The administration believes that “economic recovery will be driven in large part by America’s small businesses.” Hence, the Small Business Administration (SBA) has been instructed to reduce credit restraints and provide entrepreneurs with needed capital to grow their businesses and contribute to the economy.
It is impossible to dispute the economic power of small businesses in the development of a healthy and sustainable economy. And yet, small and growing businesses in developing countries – and the entrepreneurs who run them – typically do not receive the support that has enabled their counterparts here in the U.S. to thrive. There are few tax benefits to the businesses, loan incentives for commercial banks, or public agencies like the SBA. And that’s in the cities. Imagine how much more difficult it is for small businesses reaching the poorest people in remote rural areas, home to 75% of the 2.6 billion living on less than $2 a day.
To fully address this critical need and grow strong and sustainable economies in low-income countries, we must continue to build creative alliances between commercial investors, corporate partners, philanthropists, NGOs, donor institutions, and governments. We must look to where the impact will be greatest: small and growing businesses that collectively create jobs and improve income for millions. With access to capital, markets, talent, and technology, these businesses have the potential to create opportunities that will lift not just rural communities, but entire economies out of poverty.
In gratitude for your continued support,
William Foote
Founder and CEO
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Uncommon Heroes Film Premiers at the Skoll World Forum
A recipient of the 2005-2008 Skoll Award for Social Entrepreneurship, Root Capital was selected to be featured in one of the three "Uncommon Heroes" films that premiered at the 2009 Skoll World Forum in March. We are honored by the recognition and look forward to our continued partnership with the Skoll Foundation.
Watch the film and learn more about Root Capital's impact on the lives of farmers and artisans.
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Growth Capital Campaign Launched
Root Capital announced at the Skoll World Forum that we have launched a comprehensive Growth Capital Campaign that will significantly increase our capacity to serve rural grassroots businesses in developing countries by establishing a sustainable social enterprise and fully self-sufficient lending program by 2013. The five-year campaign includes a unique combination of Philanthropic Equity and Debt Capital and will accelerate our ability to impact global poverty by linking rural small and growing businesses with capital markets. Specifically, the campaign will allow us to triple our loan portfolio, enabling us to lend $121 million each year to more than 350 grassroots businesses representing one million households.
To learn more about the Growth Capital Campaign and receive a copy of the Private Offering Memorandum, contact Kathleen Paylor at kpaylor@rootcapital.org
Read the press release
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Root Capital is pleased to announce the addition of several new talented team members: Olga Ajanel de Fuentes – administrative assistant for PorFin in Guatemala; Mercedes del Carmen Suarez Bermudez – administrative assistant for PorFin in Mexico; Lara Cote, director of marketing and communications; Carolyn Hwang, office manager; Gildardo Martinez, CAFE Livelihoods team member; Paul Perezgrovas, director of CAFE Livelihoods; William Portilla, investment officer in Costa Rica; and Jen Stine, director of human resources and administration.
We will also soon be welcoming to our team Liam Brody, who will serve as our new vice president of business development and external affairs. In this position, Liam will build relationships with key partners in the private sector and will direct Root Capital’s business development strategy.
Prior to joining Root Capital, Liam served as deputy director of Oxfam’s private sector department. Previously, he was the director of sustainable coffee at Green Mountain Coffee Roasters and led Oxfam International’s campaign to end the global coffee crisis, which led to the introduction of Fair Trade-certified coffee by some of the world’s largest coffee sellers. Liam holds a Master of Education in social policy from the Harvard Graduate School of Education and a B.S. in agricultural and extension education from Cornell University.
Read biographies of Root Capital team members.
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