Mena Akortey

Status: Paying Back - Delinquent

$350
Loan Request
Pre-Disbursed : Jul 27, 2009
Listed: Aug 1, 2009
Funded: Aug 4, 2009
49% repaid

About the Country

Country:Ghana
Avg Annual Income:$2,643
Currency:Ghana Cedis (GHS)
Exchange Rate:1.4993 GHS = 1 USD


About the Loan

Location: Elmina, Ghana   Repayment Term: 9 months
(more info)
Activity: Food Production/Sales   Repayment Schedule: Monthly
Loan Use: To buy more maize, fish oil and pepper to cook for sale at the market   Currency Exchange Loss: Possible
      Default Protection: Covered
Behind the court at Elmina, Mena Akortey sells banku, which she prepares with cassava and corn flour, and fried fish with pepper. She has been selling banku and fried fish with pepper, since 1995.

Mena has no educational background. She is married and has three children. Her husband is a secretary. Mena is responsible for paying utility bills and also payment of her children’s school fees.

Mena’s loan will be used to buy more maize, fish oil and pepper to cook for sale at the market. She hopes to use the new profits from her business to reinvest in her business and to save the rest.




Important Information About This Loan
Please note that Kiva considers loans to this Field Partner, CRAN, to be particularly HIGH RISK. This organization has had very serious delinquency problems brought about by problems with its credit methodology, local environmental shocks including a depletion of local fisheries in its core area of operation (Cape Coast and the Central Province), and insufficient follow up with late clients. Lenders to this business should be aware that there is an increased risk of not getting repaid on this loan due to the challenges facing the Field Partner.

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Journal entries for Mena Akortey


Loan has been disbursed
 
Entrepreneur: Mena Akortey
Location: Elmina, Ghana

Thank you for your loan. It has been disbursed to Mena Akortey by Christian Rural Aid Network (CRAN) in Ghana. We are excited to watch this business grow. Over the 6 months of this loan, Christian Rural Aid Network (CRAN) will be collecting repayments from this entrepreneur and posting progress updates on the Kiva website.


Posted by from Elmina, Ghana
Aug 5, 2009
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Update for Mena Akortey
 
Entrepreneur: Mena Akortey
Location: Elmina, Ghana

Mena lives together with her two daughters, her son and her husband, who is a secretary. All of her children are going to school, whereas she herself didn’t get the chance to go to school.

Mena prepares banku and okro stew, which is a typical Ghanaian dish, out of grinded corn and kassawa. In Elmina, where Mena sells her things, everything depends heavily on the fishing industry. Especially the lane season, when there is quite no fish to catch, leads into financial difficulties. Because of this, she decided to take a loan from the Christian Rural Aid Network (CRAN), to increase her capital and buy more corn and kassawa. Now she is able to buy in larger quantities. Her income increased and she has less financial problems, e.g. in paying the school fees. She was also able to buy some blocks for a small house.

In the future, she wants to complete the house. Her greatest wish is to see her children through school.

Mena thanks every lender very much, for giving her the chance to improve her business, which is helping her to improve her life step by step.

About Christian Rural Aid Network:

Christian Rural Aid Network is a non-governmental, rural development organization established in 1993 with the aim of promoting an improvement in the quality of life and the socio-economic development of the rural poor in Ghana. Based in Cape Coast and operating in three regions and seven different districts, CRAN’s work is based on the values of Christian motivation and obligation towards the development of the individual as a whole, employing and promoting “demand-led” or “self-help” strategies for community development and rural poverty reduction. CRAN’s mission is to “work towards the improvement in the quality of life of the rural poor, the disadvantaged and the marginalized populations and communities in a holistic fashion (physically, socially, economically and spiritually), with emphasis on the right of children to quality formal education, in addition to the economic and social empowerment of women in a professional and qualitative manner”. To learn more about CRAN, click here. To browse through profiles of recent CRAN loan applicants and to make a loan to another worthy CRAN loan client, click here.


Posted by Tobias Hoelscher from Elmina, Ghana
Jan 20, 2010
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Kiva Help Repayment Schedule for Mena Akortey

  Expected Repayments Actual Repayments Comments
November 2009 $58.33 $58.33 Repayment Received
December 2009 $58.33 $58.33 Repayment Received
January 2010 $58.33 $58.33 Repayment Received
February 2010 $58.33 $0.00 Delinquent
March 2010 $58.34 Available Mar 1  
April 2010 $58.34 Available Apr 1