14 . WHY ARE THE PRIZES ISSUED IN THE FORM OF A LOAN?


The Miss Career Africa Competition was created to give young women the opportunity to start a career in their own chosen pathway by helping them create their own businesses.

That is what the competition is all about. Giving young ladies self empowerment and a long term solution against poverty. One of the mistakes that has been made in the past in Africa is that people believe they can solve this problem simply by providing people with a donation or competition prices for the winners to go and pay the family or personal bills. Sadly, by providing prizes in form of  donation the usual result is that the prize winners simply consume the money within say a 6 to 12 months period leaving them in the end in exactly the same position as before.

Hence the approach of providing a business training seminar as well as providing the funds as a loan. Providing the training and then giving a loan does several things:

Doing the business training gives the prospective winner an understanding as to how businesses work. It also teaches the person the importance of separating their business and its needs from their personal needs.

Doing a business modelling will clearly illustrate what needs to be done to make their business ideas a possible success and also works out if your business idea is likely to succeed

Providing the initial capital as a loan means that the funds have to be repaid. This enforces a business structure that ensures that the business is run in a profitable way. If the business weren't profitable then it wouldn't be able to meet its loan repayments. Hence by meeting your loan repayments we know that you have a profitable business. Having a profitable business means the candidate is empowered which is the precise purpose for running the Miss Career Africa competition!

by the successful applicant repaying the loan we then have the capital available for next year's competition funding/awarding.

We find  this to not be dignifying but also a win - win situation for everybody if executed properly.

Note: The website and other platforms of communication will make this announcement  made clear that the prize money was to be in the form of a loan. Our websites and social media platforms  have  to make it  clear to contestants from the beginning.