Nyame Asem Group
Kwasi is the leader of a trust bank group called ‘Nyame Asem’ which literally means God’s Word. He is the only male in the group photograph. The members of this group are mostly petty traders, food vendors and/or farmers. They work to support their spouses to provide for their families.
They buy their raw materials or goods from other towns and sometimes from nearby communities and sell them at the local market square. Some of them trek to other towns to sell on their market days as well. The members have been in business for some time and have amassed a great deal of experience in their businesses. It is in light of this that they are requesting for a loan to procure more goods to expand their businesses.
The members of the group guarantee for one another as social collateral to access the loan. It is their desire to give their children a good education.
This is a Group Loan
In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.
Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.
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