International Agricultural Development,
International Economic Development,
Mission: The BOMA Project is an innovative microfinance organization that helps ultra-poor women in Northern Kenya to graduate from extreme poverty. We help women start small businesses, so they can earn a sustainable income, survive drought, pay for food and medical care, send their children to school, and accumulate savings for long-term family stability.
Results: Since 2009, BOMA has impacted more than 86,000 women and children, and launched 3,658 businesses and 672 savings groups. Our goal is to lift 100,000 women and children out of extreme poverty by 2018 and 1 million women and children by 2021.
Target demographics: Women living in extreme poverty in Northern Kenya. When we begin working with them, 99 percent of BOMA entrepreneurs live on less than $2.50 per day (the poverty line), while 88 percent live on less than $1.25 per day (the extreme poverty line).
Direct beneficiaries per year: 9,061 women who support more than 43,000 dependent children, enrolled 2,550 new participants, launched 3,658 businesses and 672 savings groups
Geographic areas served: Laisamis, Loiyangalani, Marsabit and Samburu Districts of Northern Kenya.
Programs: Our cornerstone program, the Rural Entrepreneur Access Project (REAP), provides a seed capital grant, business skills and savings training, and two years of hands-on mentoring by local BOMA Village Mentors to business groups of three women. Once businesses are established and earning profits, we help them to assemble committed savings associations for business expansion and individual interest-bearing loans.