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Microcredit - Water Opportunities in Honduras17 days ago
Rotary International, Bill and Melinda Gates Foundation, Steve Rickard, Micro-credit, Angela Kokott, NEWSTALK 77078 days ago
Starting the Global Grant Application Process82 days ago
How the Microcredit Process Works & What is an MFI?82 days ago
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Ghana With Gates Partnership
Category: Microcredit | By SteveR, 16-Aug-2011 | Viewed 2015  Comments 0
Contributing Clubs
Calgary Sarcee, Point West (Sacramento, California), Rio Grande (La Cruces, NM), High River, Calgary West, Sylvan Lake and Red Deer and area clubs

Project Start:  June 1, 2008
Project Completion: May 31, 2010

This project spearheaded by the Microcredit Task Force and the Rotary Club of Calgary West  and clubs in District 5340 in San Diego, California raised over $600,000 to create a new branch in Kasoa, Ghana which served the central area of Ghana which is engaged in agricultural and more commercial pursuits like trading of food and clothing and household stuffs.  The Gates Foundation provided a 2 to 1 match on funds raised in the 2 districts.

As a result of our donation, a new branch in Kasoa was funded with loan capital.  189 entrepreneurs were given loans of approximately $265 each.  87% of the borrowers were women and the payback rate was 96%.  Savings are required of the participants who receive loans and on average each entrepreneur saved $241. Borrowers received training in business operations and life skills.   Impact to family members and employees of business owners is 945 people. Our operator in the area for this project was Opportunity International.
Included in this funding was a matching grant of $25,000 from Government of Alberta, Community Initiatives Program who has received and acknowledged final reporting for this project.

Client Stories



Victoria Mpasatia
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Victoria was building more debt than profit by purchasing small bags of flour on credit, baking fish-filled pastries in her clay oven, and hawking them on the street. With no working capital, she could not expand her business. Nor could she buy school supplies for her children, which was inhibiting them from a viable future.
Victoria joined an Opportunity Trust Bank that the members named Blessing. Victoria and her group have more than lived up to their name. As a group they have learned how to turn their loans into ever-increasing profits. Also, they have chosen educational topics for their weekly meetings that include nutrition, AIDS prevention, and family planning as well as business topics. 

With 11 loans, Victoria grew from a subsistence hawker to a businesswoman. Her credit-driven business is now cash-driven, saving exorbitant interest charges and allowing her to buy in bulk. She has an industrial oven and has vastly improved her output. Hawkers come to her now and buy her fish pastries to sell on the street. 

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Victoria Mpasatia
Combining her substantial savings with her twelfth loan, Victoria plans to open a children's clothing store. No one doubts the success of this new venture - especially Victoria.
Her children are secure and want for nothing, particularly education and all the books and supplies required to receive one. Victoria tells them to reach high, for now they can touch the stars. 

Daniel Owusu
Kasoa Branch client takes the story of Opportunity International to the radio stations!

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In just in 2 years, returnee from Liberia, receives loans, now owns two shops, a warehouse and a parcel of land on which to build his own house. He employs an assistant and has additionally been able to educate all his three children and currently takes care of six other children of his extended family.
Introduced to Opportunity International by a friend, Daniel Owusu has been a client of Kasoa Branch since 2008. 

Daniel returned to Ghana 2002 having stayed in Liberia for so many years without being able to make headway in life. Back home, he started selling items such as biscuits, sugar, toffees, cooking oil, cocoa beverages, milk etc. He normally buys on credit, sells and pays back his creditors. Life became unbearable for him since he could not cater for his family from the money he realized through his business.

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Daniel Owusu
In 2008, a friend introduced him to Opportunity International, Ghana. He managed to mobilize 35 more people to form a group to access the group loan facility. Now, he graduated to an individual loan client, receiving GH¢5,000.00 in after his fifth loan cycle. 

Transformation


Daniel has two shops and a warehouse currently. He has bought a parcel of land for putting up his own building. He has been able to educate all his three children and takes care of six other children of his extended family.

In his own words "Opportunity has made me independent. I am also somebody!  I will mention Opportunity everywhere I go".

He has been a frequent caller to some radio stations in the country praising Opportunity on the air waves.  Today, Daniel has employed a sales assistant, thus contributing to the reduction of unemployment rate in his community.
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