Florence Adu Gyamfi

Thank you for your loan. It has been disbursed to Florence Adu Gyamfi by Christian Rural Aid Network in Ghana. We are excited to watch this business grow. Over the next 7 months, Christian Rural Aid Network will be collecting repayments from this entrepreneur and posting progress updates on the Kiva website.

Florence Adu Gyamfi is doing very well in her business. She has been able to acquire a sewing machine for herself which is making her dream of meeting all her costumers need within a considerably short time a reality. The loan has also given her additional capital to by more goods for her shop and has as a result increased her profit. Her goal for the future is to shift from retailing to wholesaling.

Florence belongs to a group of small scale entrepreneurs who meet once every week to discuss the challenges they face in their various businesses and the way forward. A picture of her was taken during such meeting.

Florence is a married woman of 37 years. She has received an education through middle school. Florence is a seamstress and runs a grocery as well. She began the business because she had an interest in sewing, and then realized that demand for provisions was high. With her third loan from CRAN of 1,000 cedis, she purchased provisions including milo, milk, tinned tomatoes, and tinned fish. She also purchased fabric. After taking out the loan, her profits increased from 100 cedis/month to 150-200 cedis/month. Florence’s susu savings also increased from one cedi per day to five cedis per day. In addition to her susu savings, Florence makes deposits of roughly 10 cedis on occasion into a savings account. She reports that the loan reduced the financial pressure in her house and enabled her to purchase more food than she could previously. In addition, she has recently been able to build a house for her family.

*Susu savings is an informal savings plan run by financial NGOs, credit clubs, and self-help groups. The clients pledge to save a set amount per day, and then for a fee equal to a day’s worth of savings, a collections officer visits each client daily to collect the deposit.