NDA, Ghana

Kpalsogu – Women’s Microfinance

 

Women participating in the scheme initially received a loan of GHC100 to start their own businesses.  In this community, the business of choice for some of the women was working with shea butter, transforming the raw nut into a product for eating and soap.  Other enterprises including petty trade in sugar, buying in bulk to be sold in smaller quantities and rice production.

 

Over the year, 20% interest is paid on the loan.  After it and the initial debt are cleared, the women are entitled to another GHC100 loan. As well as paying back the loan, the women pay into a group pot to cover the cost of if one of their colleagues misses a payment due to ill health.

 

At a visit in June 2012, the women reported their pleasure with how business was going, with profits going towards educating their children, hoping they will resultantly be able to get good jobs and support them (the women) in years to come, when they retire due to old age.