Michael who I share the office with is part of an organization called Anglican Diocesan Development and Relief Organization, ADDRO. an organization that is empowering and liberating communities. They established microfinance groups that collect savings and distribute loans to the group members. This is needed as poor individuals would difficulty to get a loan at a bank and there are no fees when borrowing from the group. Membership is required to use this system and you are expected to deposit money at each meeting to form the kitty from which loans can be given. Yesterday a woman trader in the market borrowed 500 Ghana Cedis (just over $100.00 Canadian) The interest is 5% and it must be paid back in 3 months. The pay back rate is 100%. This is influenced by the fact that all the members are neighbours and how to do you face your neighbour knowing they know you did not pay back. This is a system that works well to empower communities and enable individuals to establish a business. I tagged along as he met with 2 community groups.
Michael having a conversation with a member.
Road in is like a dirt 'cow path' that has deep ruts formed by rain runoff.
Group in session
You will notice more women than men and children runaround waiting for their Mom.
Across the road from the meeting place was a grove of cocoa trees (Chocolate in the raw)
Pod ripe and ready to pick
Cocoa bean, white are fresh from the pod and the brown ones had the outer covering removed
Awww the comment about our road is disheartening😅. We even have such roads in main our main cities. But it is well 🙏
ReplyDeleteMy friends fron Jamaica used this system too.
ReplyDelete