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Boafo Ne Nyame Group
In this Group: Sophia, Charlotte, Juliana, Faustina, Abena
Sophia is married and mother of three children. Currently, two of her children are in school whilst her last born is still breastfeeding. She is a 35-year-old petty trader who sells clothing materials. She is very hard-working woman who works very hard to cater for herself, her children and her business backed by her husband's support. She sells cloth for sewing garments, shoes, slippers, and lace materials. She started her business three years ago. Lace material is very useful in room and office decorations.



Sophia treks to Kumasi to buy her stock of goods. For lack of adequate working capital she buys little because of inadequate funds. She sells her goods at the community market center. For this reason she requests a loan to make business progress. She believes the loan will enable her to grow her business to the expected level.



She is the leader of a trust bank group called ‘Boafo Ne Nyame’ which literary means 'Our helper is God'. She is the one sitting in front in the group photograph. Most of the members of this group are petty traders, food vendors and/or farmers. In this group, members guarantee for one another as social collateral to access the loan and peer pressure to repay the loan.

Additional Information

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.

About Ghana

  • $2,643
    Average annual income
  • 8
    View loans »
    Ghana Loans Fundraising
  • $10,839,425
    Funds lent in using Kiva
  • 1.5
    Ghana Cedis (GHS) = $1 USD

Success!! The loan was 100% repaid

A portion of Boafo Ne Nyame Group's $1,875 loan helped a member to purchase bulk of lace materials and textiles.
100% repaid
Repayment Term
11 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jul 16, 2009
Listed
Aug 1, 2009
Currency Exchange Loss:
Possible
Ended:
May 25, 2010