Kuyasa Fund

In nearly 20 years since its founding, Kuyasa has helped more than 52,000 families (some 250,000 people) and has issued over R250 million ($21 million) in loans. Kuyasa targets and lends to South African people in two provinces who are excluded from formal banking sector services, self-employed (i.e. no payslip), or pensioners (i.e. social grantees). Over 75% of Kuyasa clients are women earning less than R60 ($5) per day.

Typically Kuyasa's borrowers used the loans to build an additional room for business or rental activities, thereby increasing their household income. The process of home improvements leads to local job creation, with 50% of the average home improvement costs going into local labour. Kuyasa's loans boost their owners' property values an average of R100,000 ($8,400) per house. Via Kuyasa, they are able for the first time to borrow against what had previously been their dead capital equity.

Kuyasa estimates that its two decades of lending have unlocked more than R5.2 billion ($400 million) in housing asset value. Upgraded homes not only provide a safer and better quality of life for the borrower families, they also help them lead more dignified lives, often gaining a feeling of empowerment from taking a loan and successfully managing their home improvement. Where despair and defeat could have lived, Kuyasa borrowers now have pride of place and hope for the future.