Microfinance
 Ghana
Project #12268

Social and Financial Solutions to Women in Ghana.

by Sun Shade Foundation

Summary

People in our selected areas are poor and live on less than $2/day. They are however willing and able to work and change their lives but access to basic finance has been difficult to obtain. Banks asked to make deposits but these poor women have no such collateral. We are able to support these women financially to start or grow their businesses without asking for any material or financials. We put them in a group and use their group solidarity as a kind of social collateral.
$305
total raised
13
donors
0
monthly donors
3
years active

Challenge

Most people in our selected areas are poor and live on less than $2 a day. They are however willing and able to work and change their lives but access to basic finance has been difficult to obtain. They are asked to make deposits and collateral but these poor especially women have no such collateral.also shun these poor since they believe their transaction cost on small loans to the poor far outweighs their interest benefits. These continue to make the poor, poorer. We seek to solve this problem

Solution

Our model is able to screen and select only the poorest of the poor. They are then made to form their own groups of three to enhance its cohesion and belongingness. We do not ask for any material or monetary collateral, but use their group solidarity as a kind of social collateral. We are able to distinguishably classify our maximum loan into stages of the cycle which makes it much easier for our beneficiaries to move gradually from one loan stage to the other. We train each group member.

Long-Term Impact

We measure impact socially and statistically.Our primary interest is whether the proposed project poverty reduction actually improved the lives of participants and reduces their stress of obtaining financial support for their business activities.To determine the extent to which the project is responsible for the reduction of poverty in its beneficiary catchment area, extensive data will be collected on the pre-project poverty statistics of the participants.

Additional Documentation

This project has provided additional documentation in a PDF file (projdoc.pdf).

Resources

http:/​/​www.sunshadefoundation.org
Our Facebook page

Organization Information

Sun Shade Foundation

Location: Ashtown, Ashanti - Ghana
Website: http:/​/​mysunshade.org
Sun Shade Foundation
Project Leader:
Andrews Nyantakyi
Farmington, Minnesota United States

Retired Project!

This project is no longer accepting donations.
 

Still want to help?

Find another project in Ghana or in Microfinance that needs your help.
Find a Project

Learn more about GlobalGiving

Teenage Science Students
Vetting +
Due Diligence

Snorkeler
Our
Impact

Woman Holding a Gift Card
Give
Gift Cards

Young Girl with a Bicycle
GlobalGiving
Guarantee

Sign up for the GlobalGiving Newsletter
WARNING: Javascript is currently disabled or is not available in your browser. GlobalGiving makes extensive use of Javascript and will not function properly with Javascript disabled. Please enable Javascript and refresh this page.