A year ago, I came across this amazing website called DEKI, and it is a charity website like no other. It is based on giving to people in poverty who want to set up their own business. Some are hairdressers, some have a cleaning product business and you don’t donate, your money goes towards a microloan to help them set up their business. You can donate anything from £10 up to the whole amount they need, and they pay you back when they can. You get email updates telling you the progress of your loan, and how much your nominated person has managed to pay back. It is currently working in Malawi, Togo, Ghana and Nepal and has a 100% repayment rate.
When they pay you back, you can choose to withdraw, donate it back to Deki for administration OR donate the money back to help someone else. This way, a £10 donation can actually help multiple people.
I have lent money to Naporo Balchisu, a mother of six children from Ghana, who needed a loan for her shop selling household products. She has almost repaid the loan after 8 months.
The woman who set up the website has, deservedly so, been nominated for many awards, including Red's Hot Women in 2010.