Shared Interest News

Shared Interest: In Focus, Fall 2008 Newsletter

Shared Interest: In Focus, Fall 2008 Newsletter

 

Shared Interest Update: Celebrating South African Women’s Day. August 9, 2008

   
Dear Friends,
 

August 9, 2009 marks the 52nd anniversary of South African Women’s Day.  Shared Interest celebrates this occasion by honoring the women who are still on the frontlines of the campaign to support their families, and to build sustainable communities and a more equitable society.  They are mothers like Rosina Mabeba, Yvonne Molefe, Salome Mondlane and Phildah Modjadji, who put the loans we guarantee to work.  With their unrelenting determination and skill, commitment and courage, they are transforming the lives of their families and playing leadership roles in their communities.  Through their micro- and small businesses and community enterprises they are breaking down beariers and setting precedents for women in South Africa and beyond. 

 Sincerely,
 
Donna Katzin
Executive Director

Rosina Mabeba  
Rosina MabenaRosina Mabeba is the treasurer of the Matseke Village Center in Limpopo Province, organized by the Small Enterprise Foundation (SEF) - a position to which she was elected a year ago. Like SEF’s other clients, she borrows and saves as part of a group, through an organization of groups in her village.  She believes that one of the reasons she was chosen is her experience handling money in the small spaza (convience) shop that she operates, thanks to loans from SEF over a four year period. 
 
Beginning with a R500 (US$66) loan, she graduated up the loan ladder to her most recent loan of R2,600 (US$3,466).   In the shop she works hard from 8 a.m. to 5 p.m. selling candy, boiled eggs, biscuits, fish for barbequing and traditional beer.  To price her goods she investigates the costs of the wholesale products, evaluates her own costs and studies what her competitors charge. 
 
“Before I took the loan I was struggling for food, bread and school fees,” recalls Rosina.  Her situation was particularly challenging, as she has 10 children, ranging in age from six to 26 (including three sets of twins, all of whom are still in elementary school).  Rosina’s business has been quite successful, enabling her to maintain her family.  She is hopeful that in five years her shop will continue to grow, with SEF’s help, and enable her to insure that all her children receive the food, clothing and education for which she is working so hard.
 

Yvonne Molefe  
yvonne molefe “I felt I could make more of a contribution than I was making,” explains Yvonne Molefe, Managing Director of Misty Sea, one of South Africa’s first black-owned commercial pig-raising businesses, not far from Johannesburg.  Yvonne and her husband purchased an old previously white-owned farm in 1998.   ”The first day on the farm I said ‘where do I start?  Agriculture was far away from my life.  I was from the township.  I had to read about different approaches, and bought a book on pig management. I mobilized my family, who helped on weekends.”
 
Yvonne began with ten sows and one boar.  Today she has 270 sows and 35 boars, and is in the process of acquiring 30 more sows.   As a black woman in the commercial pig industry, she has encountered obstacles.  “People don’t expect to see you - a female - where you are,” she comments.  “It is still quite a shock.” 
 
She has experienced harassment by local white officials and the Town Council. In 2006, when a storm caused the roof of one of the sheds to fall, killing many of the pigs below, the insurance company refused to pay the claim.  Yvonne had no choice but to make repairs herself, and used the prize money she had been awarded in 2004 as Top Producer for National Markets to feed her pigs and rebuild the business.   Her  second Shared Interest-guaranteed loan enabled her to restructure the project. 
 
Despite the fact that Yvonne still struggles, she has won the respect of neighboring white farmers.  Today Yvonne is still the only black member of the South Africa Pig Producing Organization, which now sends emerging farmers to her for inspiration and informal mentoring.  This has given her the idea of developing a training school on her land for emerging pig farmers.  She has already prepared several training manuals.  
  
 

“There are four things I would tell an emerging farmer,” she concludes.  “You have to do research and visit other pig farmers.  You also have to know that this business is capital intensive.  Also it’s an industry governed by standards - there have to be measures of bio-safety.  Most of all I would ask, ‘Is it only for making money?’  If you only do it for the money, it won’t work.  You have to put your heart into it.”  

Salome Mondlane and Phildah Modjadji  
Mondlane and Modjadji  

“We women wanted to be the ones to do this thing,” explains Salome Mondlane, 72 year-old member of the Diretsogetse Pankop Board of Directors.  Born in the small town of Pankop, Mpumalanga, at that time part of the apartheid-designated homeland of Bophutatswana, Mrs. Mondlane succeeded Phildah Modjadji, mother of eight, as principal of the local elementary school.  They are two active leaders of the fruit and vegetable production and dehydration project organized by the Pankop Women Farmers’ Forum in collaboration with tribal and municipal authorities.
  
Mrs. Mondlane and Mrs. Modjadji worked with 300 women in the community to grow fruit to supplement their incomes and the diets of their children, and pay for school fees and electricity.  They organized the Pankop Women Farmers Forum in collaboration with the tribal chiefs and the councilors and executive of the Dr. JS Moroka Municipality.    Then they sought to create jobs for the community’s youth.
 
“We say in our language, ‘the mother handles the knife by the blade, not the handle,’” notes Mrs. Modjadji.  “We know each other, and who can stand up for each other.  The women of our community began with the objective of helping their youth by alleviating poverty and creating job opportunities for our children.” 
 
In 2003, the community devised a plan and secured loans with the help of Shared Interest guarantees and Thembani’s technical assistance.  They converted a former girls’ dorm into a fruit and vegetable dehydration plant, set up a hydroponic community growing area to expand production, and finally helped neighboring farmers increase their supply of produce for the project.
 
“Although we are still struggling, we are not waiting.  We are moving on,” affirms Mrs. Modjadji.  “We want this to be the star project of South Africa.  We mean business.”
 

Shared Interest Update: Honor South Africa’s Youth

June 16, 2008
Dear Friends:

Thirty-two years ago today, high school students in Soweto marched peacefully to protest the order to educate them in Afrikaans – a language they did not know.   One they perceived to be the language of the “oppressor.”   Before they arrived at their destination, South African police opened fire, killing unarmed youngsters.  As the death toll soared to more than 600, images of the massacre ricocheted around the world, galvanizing the international community, and changing the face of the country’s freedom struggle forever.
We dedicate this  2007 Annual Report  to those children – and also to today’s families struggling to feed their children at a time of rising food prices, to create jobs for them as nearly half job-seeking youth remain unemployed, and to launch a new generation of young black entrepreneurs, working hard to enter industries and access credit previously reserved for whites.
Expectations and stakes are high.  South Africa’s future and that of its neighbors — including the political and economic refugees living within its borders — depend on the country’s ability to deliver for this generation.  Sub-Saharan Africa’s largest economy must “get it right” in order to make a reality of the hopes for which Soweto’s children marched, and to help galvanize the peaceful and equitable development of the region and the continent.
Shared Interest has benefited more than one million low-income black South Africans.  Your generosity counts. Please join us by forwading your financial support to reach the next million South Africans. 

Sincerely,


Donna Katzin
Executive Director

 Nosimphiwe Tafeni  

2007 Annual Report : on the cover of the report is Nosimphiwe Tafeni makes Xhosa dolls from recylced bottles in Khayelitsha as part of the Masiphihlisane group, which received a loan from Shared Interest beneficiary Kuyasa.

 

 

Spring 2008 In Focus Newsletter

Spring 2008 In Focus Newsletter 

Shared Interest 8th Awards Dinner on March 17, 2008: A Million Reasons to Celebrate

This year, Shared Interest has 1 million reasons to celebrate.

On March 17, 2008, we ask you to join us in celebrating Shared Interest’s 1 millionth beneficiary. Held at Capitale Ballroom in New York City, this gala contributes 25% of Shared Interest’s operating budget, making it a critical pillar of its ongoing sustainability - and that of the families and communities that depend on its funds.  This year’s honorees are Debra Lee, Chairman and CEO of BET Networks, Justice Albie Sachs, South African Constitutional Court Justice, and Nadine Hack and Jerry Dunfey, contributors to South Africa’s ongoing work for economic democracy. 

Gala tickets can be purchased through NYCharities by clicking here or by contacting Alicia Kingue, Director of External Relations at 646-442-0186 or Alicia@sharedinterest.org.

You can also print the clicking on the invitation below and fax back to Shared Interest at fax# 212-337-8548

 8th Annual Gala Invitation  (print and fax to 212-337-8548)

Shared Interest Honored Archbishop Tutu in Pittsburgh - October 24, 2007

On Wednesday, October 24, 2007, at 6 p.m., Shared Interest and its Board Members and friends from Pittsburgh and Chicago honored Archibishop Emeritus Desmond Tutu during our A Million Ripples Gala. The theme of the evening,  From one touch - a million ripples. Friends raising hope in South Africa, inspired and uniquely entertained guest as Archbishop Tutu shared his wisdom on how we can become ripples of hope for South Africa through Shared Interest.

 tutu

continued…

Fall 2007 In Focus Newsletter

 

Fall 2007 In Focus Newsletter  

 

Shared Interest Update: NPR Broadcast on South African Women’s Day

Today, South African Women’s Day, we are thrilled to share with you a radio segment that aired last night on Marketplace (http://marketplace.publicradio.org/shows/2007/08/08/PM200708087.html a leading business and financial radio program, featuring Shared Interest’s innovative model to expand credit and banking to impoverished communities in South Africa. Marketplace is currently broadcast by more than 330 public radio stations nationwide with more than 8 million listeners.

With reporting in the U.S. and South Africa, this radio segment highlights the passionate commitment of the Carlisle investor group to raise resources for Shared Interest and entrepreneurs from the successful Hands-On Fishing project in the Western Cape.

 To hear the segment please click on http://marketplace.publicradio.org/shows/2007/08/08/PM200708087.html.

(Please consult the market place website www.marketplace.org) to find out when the radio program is aired on your local station.) Please also feel free to share this email with at least five other people, so they too will be inspired to build support for economic justice and democracy in South Africa. For more information on Shared Interest and how you can advance this work, please visit Shared Interest us at http://www.sharedinterest.org.

In the article below, we are pleased to spotlight Neo Mogape, Production Manager of Tropical Mushrooms – one of the unsung heroines of South Africa’s small business sector.  She is one of the 750,000 women who have benefited from our work since 1994.  One of the many who are leading South African women’s daily struggle to sustain their families and communities, and reshape their country’s economy.  We invite you to celebrate this day with us – and with them.

continued…

Shared Interest’s $1million investment featured in SocialFund.com article

Helping Close the Capital Gap in Africa: Two Big Investments in African Microfinance 

Shared Interest, a non-profit investment fund that guarantees bank loans for South Africa’s poorest communities, in SocialFunds.com, the largest personal finance site devoted to socially responsible investing. Read a recent SocialFunds.com article on how Shared Interest’s recent $1million investment from the United Methodist General Board of Pension and Health Benefits will help thousands of South Africans gain access to capital for small and micro-enterprises, affordable housing and rural community businesses and cooperatives. Click here: http://www.socialfunds.com/news/article.cgi/2332.html 

Largest Faith-based Pension Fund Invests $1 Million

CONTACT: Shanta Bryant Gyan 646-290-8211; shanta@sbgcommunications.com * www.sharedinterest.org

Largest Faith-based Pension Fund Invests $1 Million for Small and Micro-enterprise Development in South African Low-Income Communities
Investment seeks to alleviate poverty and build wealth in South Africa’s economically marginalized communities

NEW YORK, July 5, 2007 – Shared Interest, a leading New York-based social investment fund, has received a $1 million investment from The United Methodist General Board of Pension and Health Benefits to support small and micro-enterprise development in South Africa’s most impoverished communities, signifying the pension fund’s commitment to invest in economically marginalized communities like those served by their African clergy.

The five-year investment, which is Shared Interest’s largest single investment, is one of the first U.S. pension fund investments in African communities. continued…

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