A spirit of entrepreneurship
Wishing to improve the life conditions of its beneficiaries as well as meet their diverse needs, the Zakoura Foundation for Microcredit launched different individual loan programs in the last few years. The different types are: the micro-enterprise loan and the rural tourism loan .
The partnership between Zakoura and the Moroccan Drinking Water Board (ONEP)
In 1996, the Zakoura Foundation for Microcredit and the Moroccan Drinking Water Board (ONEP) signed a partnership agreement for the creation in the formal sector of micro-enterprises in the field of plumbing, electricity, maintenance of the buildings, gardening, and surveillance of water supply and sanitation pipes. Each micro-entrepreneur benefits from a 5,000 Moroccan Dirhams loan (US$ 590) from Zakoura and a loan of 35,000 MAD’s ($US 4,107) from ONEP in the form of equipment for their project. The promotion of these micro-enterprises in the rural world has ensured a management of the water service at a lower cost and guarantees the sustainability of quality water service with the ONEP hallmark. Since 1996, this partnership has allowed for the creation of 352 micro-enterprises employing 3 to 7 persons each throughout the whole country.
In order to meet the needs of beneficiaries requesting larger loans for working capital or equipment for their projects, Zakoura designed a micro-enterprise loan based on their experience with ONEP., In 2002, Zakoura lanched the individual loans, ranging from 5,000 to 25,000 MAD’s (US$ 500 to 2,500), for the creation of micro-enterprises. The goal of this loan is to promote the spirit of entrepreneurship and employment through the creation of micro-enterprises.
Zakoura and Rural tourism
In 2003 Zakoura launched a new rural tourism loan. The major goal is to compliment the agricultural activities that beneficiaries are already doing with other income. This helps to build the assets of these populations to better withstand the many shocks that they face with changing seasons. This loan is intended for people residing in rural areas or in places with a tourism potential. The potential beneficiaries must be willing to host national or foreign tourists by organizing two rooms in their house to that purpose, or it is for those who wish to create small catering or handicraft projects. By granting loans (ranging from 5,000 to 20,000 MAD’s), or by simple training and business development measures, the Zakoura Foundation helps micro-entrepreneurs strengthen their accommodation capacity and the quality of the services offered. The Foundation committed itself from the beginning to supplying the beneficiaries with initial training during the layout phase as well as assistance and advisory services through 3 credit agents.