I went with Michael to a community meeting of a microfinance association. It was their end of year mtg. which according to their rules it is the time that all the savings accrued are given back to the donors and the interest that had been gathered from loans through out the year was divided equally and distributed as well. the total interest amounted to over 12,000 Ghana cedis. This is a struggling agricultural community where this amount of money would be unheard of to have at one time. So individually each received the 600 Ghana they had saved and an additional 350 Ghana from the interest. (Exchange rate is 4.9 Ghana to $1.00 Canadian). eg of costs: school fees for one term are 200 Ghana, rent for a one room apt could be 2000 Ghana for 3 years and they pay for three years rent up front. This was a very successful year for them and everyone was excited and celebrating. The administrator at the main office had donated polo shirts with the association logo for everyone so they were distributed as well. It was like Christmas in January!!!!!!
The mtg. was held in a mosque with many sitting on the floor. Yes I had a chair..
SOME OF THE HOUSING, MUD BETWEEN BAMBOO CROSS BEAMS
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