Venture Competition Team: AquaLoan
April 16, 2013
- Selam (Brook) Ashenafi Mentire B.A. ’11
- Temesghen Habte CAS ’13
- Seile Alemayehu Tekle CAS ’13
AquaLoan is a non-profit organization that will work to promote clean water and sanitation by providing affordable microloans to individuals and groups in rural and urban Ethiopia. AquaLoan will provide clients in Ethiopia’s poorest regions the capital, training, and resources needed for them to have access to clean water and facilities of sanitation. Urban clients of AquaLoan can use the loan to install such things as pipes and toilets in their homes, while rural clients can use the loans to drill wells and construct public sanitary facilities for the use of the entire village. AquaLoan’s unique approach empowers clients by giving them tremendous liberty over their project, which in turn leaves them with a sense of ownership and responsibility: The project is theirs to finish and maintain. Most importantly, the loans will be structurally affordable so that they can be obtained by most income brackets. The need for a company like AquaLoan is great in Ethiopia because those who need loans the most are being ignored by private and government agencies. Therefore, AquaLoan’s main clients are largely untapped, which will give AquaLoan a major competitive edge, and the great demand of that untapped market will make AquaLoan successful.