DLL employees collect EUR 44500 for Micro Leasing program in Africa

Jun 25, 2019
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In celebration of DLL’s 50th Anniversary end of May, DLL organized a global 24-hour Micro Leasing Cycling Challenge to raise funds for its Micro Leasing program. Spinning equipment had been supplied by partner Technogym. Over 800 members of 24 country-offices worldwidealmost 20% of  DLL's global member base, have participated with contagious enthusiasm and cycled 11,871 kilometers for this good cause. When combining the members who donated money in the Micro Leasing Fund, this indicated that almost half of the global member base showed they care for low-income entrepreneurs in Africa. DLL members clearly went the extra mile to collect €44,500 for the Micro Leasing Program.

“The DLL Micro Leasing Cycling Challenge is a fantastic initiative that fits perfectly with our wellness ethos as it aims to support DLL members towards an active lifestyle. Technogym and DLL have a strong partnership and we were really pleased to be able to support such a great initiative in DLL offices using Technogym Group Cycles,” says Craig Swyer, Marketing Director at Technogym.

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Micro Leasing Program
Micro Leasing is derived from contract-based lease-to-buy models in developed countries, which eliminates the need for entrepreneurs to borrow or commit their resources up front. Risk is mitigated instead by a collateralized and insured asset. Credit worthiness is based on future prospects and potential cash flows, rather than on an individual’s credit history. This financial solution opens-up huge opportunities for entrepreneurs who have a dream with a sound business plan for it. With the Micro Leasing Cycling Challenge, DLL members are helping to create a better world together.

€ 44,500 - What’s next?
The total amount of 44,500 euros collected by DLL members includes a generous € 25,000 contribution by the DLL Executive Board and will be the source for funding of DLL’s Micro Finance partners in Africa. DLL, in partnership Rabobank Foundation, specifies the projects of interest which are primarily Micro Finance Institutions and Saving and Credit Cooperatives. These groups also receive micro leasing with credit scoring and marketing advisory support by DLL. Decisions for funding are based on project information and a credit application check to be done and assured by Rabobank Fund Managers. This way, DLL assures independent and transparent credit application procedures and maximizes the potential success of the usage of the provided funding. The more successful DLL is in this program, the more low-income African entrepreneurs can start or expand their business and improve their livelihoods.

The DLL Micro Leasing Cycling Challenge is a fantastic initiative that fits perfectly with our wellness ethos as it aims to support DLL members towards an active lifestyle. Technogym and DLL have a strong partnership and we were really pleased to be able to support such a great initiative in DLL offices using Technogym Group Cycles. "
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Access to additional finance for low-income entrepreneurs
Over 50% of the total population in emerging African countries lives on a budget of less than $2.50USD a day. This income does not provide any kind of investment that is geared towards improving livelihoods. Many smallholder farmers and other low-income entrepreneurs do not have access to financial services such as leasing.

A credit history, collateral or business assets are unavailable, resulting in the inability to be creditworthy. If these entrepreneurs want to start or expand their business, they depend on a variety of informal financial sources which are usually provided at a high cost and risk. To support economic development in Rwanda and Kenya and provide access to finance for all, DLL promotes the concept of Micro Leasing for small entrepreneurs to have access to productive assets to start-up or expand their small business and transform their lives.

Learn more about DLL’s societal impact.

Liezelotte Rijk

Liezelotte Rijk

PR

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