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TED Talks Daily

How repaying loans with social service transforms communities | Angie Murimirwa

TED Talks Daily

TED

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4.111.9K Ratings

🗓️ 19 March 2020

⏱️ 11 minutes

🧾️ Download transcript

Summary

What if you could repay loans through volunteering and mentorship instead of money? Activist Angie Murimirwa shares how a game-changing economic tool known as "social interest" is reinvigorating sub-Saharan communities once trapped in cycles of poverty. Join her as she explains how this approach to lending is creating opportunities for thousands of African women and girls -- and shows why this model can be replicated anywhere with lasting effects.

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Transcript

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0:00.0

This TED Talk features education activist Angie Murray Mirwa, recorded live at TED Women 2019.

0:09.6

Most of you will know about the challenges faced by my beloved continent, Africa.

0:17.5

Too many people are poor.

0:20.2

Millions of girls don't have access to school,

0:22.6

and there aren't enough jobs for the rapidly growing population.

0:27.6

Every day, 33,000 new young people join the search for employment.

0:33.6

That's 12 million for three million for more jobs. In sub-Saharan Africa, less

0:40.1

than one in four young people are likely to get wage or salaried work. The chances of making

0:47.0

a secure living are even slimmer for poor and rural young women. They cannot afford an education,

0:54.6

and they do not have the same access to wages,

0:58.1

loans, or land as men.

1:00.9

This leaves entire communities trapped

1:03.4

in a vicious cycle of poverty, inequality, and hopelessness.

1:08.7

But I'm not here to narrate the doom and gloom,

1:12.6

because we also know that a youthful population

1:15.4

presents an opportunity to kick-start economic growth

1:19.0

and solve global challenges.

1:21.2

And in fact, there is a growing movement in Africa

1:24.4

of educated young women who are stepping up and using the power of their network

1:31.4

and the two we call social interest to uplift communities. I'm one of the leaders of the

1:38.2

organization behind this movement, an organization that also supported me through school. And I have seen social

1:47.6

interest multiply the impact of our work. Social interest is a way to pay back interest on a loan

...

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