Onokwafo Nyame Trust Group
Abena lives together with her family in a family house at Sunyani, where she also does her trading. She is able to provide support to her family’s financial needs through the sale of 'kenkey'. Kenkey is one of Ghanaians' favorite local dishes that is rich in carbohydrates. It is prepared with corn dough made into balls, cooked 1-2 hours, and eaten with hot pepper and fried fish. It could also be enjoyed with other sauces. 'Kenkey' is known throughout all the tribes in Ghana and commonly sold on most streets. 'Kenkey' is a heavy diet and much preferred over beverages by people who do manual drudgery. Selling for the past 16 years, Abena has attracted quite a number of regular customers through good customer relations.
Abena is currently the leader of a trust bank group called “Onokwafo Nyame” (translated as 'Faithful God'), made up of six members. The other members are also engaged in trades such as foodstuff selling, 'kenkey' selling, grocery sales, used clothing sales etc. They are requesting the loan to support their businesses. Their common dream is to be financially self-sustaining and be able to support their children through quality 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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Success!! The loan was 100% repaid