A road leading out of poverty - Drombaya
"I got into micro financing by accident," admits Bonnie Burlton, a recent uOttawa Bachelor of Education graduate. "This woman explained to me that if she had a bit of money, she could buy cassava (a root plant that is a vital staple in many developing countries) at a low price in a rural village and sell it at a higher price in the city where it was in demand."
In 2007, Bonnie was in Cameroon on an internship with the Canadian International Development Agency teaching at a school. She met up with a Swiss volunteer named Sebastian Schmid (who did tech and web work for the school and other organizations), and together they founded Drombaya, an organization that facilitates small scale micro financing activities through collaboration with civil society organizations (CSOs).
"The success of Drombaya lies in the fact that it is locally run," explains Bonnie. "We are behind the scenes. The people who make this work are the people of Cameroon."
The target group for loans is mainly women who often earn less than one dollar (U.S.) a day. In Drombaya's first year of operation it managed to reach over 148 women and positively impact over 320 people. Loans help start small businesses or improve already existing ones. Once the loans are paid back the cycle starts over again ensuring sustainability and growth. To date, the program has a 100 per cent repayment record.
"My father worked as a banker for a while," shares Bonnie, whose father recently passed away, "and this is exactly how he thought banking should work. He called it community banking."
Bonnie is currently in Cameroon to see firsthand the amazing results and co-operative work being done through the helping hand of Drombaya.
By François Rochon
Published: August 2010