Last post, I mentioned how most of the folks in class have trouble getting loans from conventional banks — no collateral, no loan. But these eager businessmen and women have proven they have the talent to make something from essentially nothing. So, how do you bridge that gap between talent and opportunity? Part of that answer is what we’re doing this week. The other part comes from two dynamic woman, Doris and Meta.
They’re sisters who run the Africa Assistance Project. The project doles out small loans to local budding entrepreneurs, mostly women. Those loans need to be paid back … and while the loan is yours to invest, the burden of repayment falls on a small group of about a dozen fellow shop owners and merchants. If someone in your group runs into trouble and can’t pay back their portion, the rest of the group has to chip in. They’ve had several successes, from bread makers to seamstresses. So, when you give to any micro-lending program, including GBA’s… you support women like this. To paraphrase the Peach Corps motto, a help up not a handout.
The folks in our class have slightly bigger businesses (3-10 employees) than the folks who’ve been helped by AAP (who are mostly one-person operations). Our students have dreams of multiple locations and, in some cases, growth beyond Sunyani.
Anyone for some cashew-flavored soda? More on that in my next blog.
- Fuzz
Tags: Africa Assistance Project, cashew, collateral, ghana, micro-loan, soda, Suyani, women
