Cheap Money

Thanks to Rex, from now on we can do more with every euro donated to our foundation. Rex is a socially engaged local importer in Malawi who helps us exchange euros for Malawian kwacha. When we transferred money through regular banks, we received about 1,800 kwacha for one euro. Because of high inflation, however, the real value at the time was around 3,000 kwacha per euro. When we discovered that this made exchanging money through the bank a bad deal for us, we went looking for a sustainable and practical solution. Through his import business, Rex has kwacha available and was willing to exchange our euros at a rate of 1 euro = 3,000 kwacha. As a result, the same donation gives us around 66% more local funds for our projects in Mbamba Village Kande. This way we can make the best possible use of donations for education, food and local development.