Who is First Step Initiative?

We are a Minnesota-based microfinance organization operating in the Democratic Republic of the Congo (DRC). We provide small loans to women enabling them to start their own small businesses and improve their lives and the lives of their families.

Our Vision:
• We are dedicated to helping our women clients realize their full potential by providing them with necessary tools to build their own lives.
• We provide a direct connection for people who wish to share their financial resources with the poorest women in the world.
• We envision a world in which every person can take care of her or his basic life needs; where no child dies of hunger or suffers from malnutrition; and where each generation has a brighter future.

Our Team

The First Step Initiative team consists of staff, volunteers, and a board of trustees working around our U.S. headquarters in Golden Valley, MN (USA), as well as staff members at FSI headquarters in the DRC.
The FSI team in the Congo is led by local Congolese people who speak the native language, understand the culture, and can work through local politics and administrative procedures, and who have received UN microfinance training.

Senanou Davy Denadi, Managing Director
As Managing Director, Davy oversees First Step Initiative’s operations in the Democratic Republic of Congo (DRC). He comes to FSI with over 9 years of experience in MFI operations, financial performance analysis and institutional social performance assessment. Davy has worked with MicroSave in India, where he has been deeply involved in the provision of technical assistance to numerous financial institutions (MFI and Banks) across South Asia and Africa countries. He worked with GRABS-ONG in the Benin Republic where he headed the positions ranging from Accountant, Senior Accountant to Microfinance Program Manager. He has also the opportunity to work with ADRA/MFI in Ghana and Martindale Brightwood Community Development Corporation (MBCDC) in USA on its community economic development programming.

Davy has a Post Graduate Degree in Microenterprise Management from CIESA in CANADA and completed the Master in Banking and Finance Management from New England College; as well as both the Master of Science in International Community Economic Development and Graduate Certificate in Microfinance Management from the Southern New Hampshire University (SNHU) in the USA.

Board of Trustees
Our Board of Trustees is made up of volunteers who serve without compensation. The board sets the direction of the organization and initiates action in support of First Step Initiative's mission, goals and programs. Our Board Members:

Katherine Poindexter is a regional sales manager with United Sugars. She previously held Business Development positions with Smith Barney and Piper Jaffray, and has worked as an Account Executive at Stanton Group and Plan Controller Manager at Norwest.

Terri Foley works in children's book publishing at her own company called Peppermint Books. For more information, visit www.peppermintbooks.com

Sally Anaya-Boyer is a VP with Wells Fargo Global Banking and has been a commercial lender for several years at various Twin Cites banks. She has extensive volunteer experience having served as a board member with the Women’s Foundation of Minnesota, Centro Legal, Inc., and the Chicano Latino Affairs Council. She volunteered for several years with the United Way where she also served as Fund Distribution Chair.

Sarah Mason is a Senior Vice President at Affinity Plus Federal Credit Union, a not-for-profit financial cooperative. In her twenty years with Affinity Plus, she has served a broad range of leadership positions including Strategic Planning, Human Resources, Leadership Development, Marketing, Branch Operations and Investment Services. Video: Meet Sarah and learn more about her involvement with First Step Initiative.

Mary Herfurth has worked in financial services her entire career. She is now Principal at Interface Financial Group. Mary holds an MBA in Finance from the University of Minnesota, Carlson School of Business.

Kathy Walstead-Plumb has 35 years of executive experience in Health Care Administration. She has worked for Blue Cross Blue Shield, The Foundation For Health Care Evaluation and United Healthcare. She spent 3 years in Johannesburg South Africa as CEO of Southern Healthcare. She has also served on several boards and was the President of the Minnesota Women's Network.

Michael Kithcart serves as the Chief Operating Officer of WomenVenture, a non-profit organization dedicated to helping women achieve economic success through classes and services on entrepreneurship and career building. For the past six years, she has worked with women’s microfinance groups in developing countries including Haiti, South Africa, India, and Nepal. Michael holds an MA in International Relations and Diplomacy from AGSIRD in Paris.

Past Board Members:
Diana Carter is the President and CEO of Summit Mortgage Corporation. For more information, visit www.smtmtg.com.

Sue Ginsburg is the President and CEO of Growth Lynx, which helps businesses increase their 3 R’s: revenues, retention, and relationships. For more information visit www.growthlynx.com

Sarah Bridges Ph.D is a licensed psychologist who advises leaders and senior executives of many of the Fortune 500 companies. For more information visit www.sarahbridges.com

John Mach serves as the Chief Medical Officer at XLHealth, a Medicare Special Needs Plan that coordinates individualized health care benefits and well-being services for beneficiaries who are chronically ill. Previously, he was CEO of Evercare, a health care organization serving people who are older, frail, disabled or have chronic illness.

Jim Klobuchar is the author of The Miracles of Barefoot Capitalism and an honorary board member.

Our History

Founder, Chingwell Mutombu started First Step Initiative as a pilot project in 2004 when she began sending small amounts of money ($50 at a time) back to the Congo whenever she could; in time it amounted to $3,000. That capital was used to provide small loans to 60 poor, entrepreneurial women who in turn, used the funds to start and grow their own businesses.

The success of these small business loans far exceeded Chingwell's expectations. She was encouraged and thrilled to hear how the women were able to feed their familes, provide them with shelter and clothing and send all of their school age children to school. The results of the project inspired her to capitalize on this success and expand to create First Step Initiative. Today, First Step Initiative has helped over 600 women start businesses; we continue to strive to reach more women and enable them to transform their lives.

What is Microfinance?

Microfinance is recognition that poor people are the solution, not the problem. It is a way to build on their ideas, energy, and vision. It is a way to grow productive enterprises, and so allow communities to prosper." -- U.N Secretary General, Kofi Annan

First Step Initiative focuses on empowerment by putting individuals in positions to improve their own lives. Our efforts are based on a model called microfinance, an economic development technique that extends small loans to individuals to establish or expand a small self-sustaining business. Even though microfinance loans consist of small amounts of money (typically less than $200), in the Congo, this is more than enough to purchase the inventory, supplies and tools needed to begin or expand an income generating activity.

Learn more about microfinance...