Araba Asankoma

Location:	Elmina, Ghana	Repayment Term:	9 months (more info)
Activity:	Food Market	Repayment Schedule:	Monthly
Loan Use:	Araba will use to loan to increase her stock of goods and get more profits to support her family.	Currency Exchange Loss:	Covered
		Default Protection:	Covered

At the market, Araba sells cassava, plantains, and palm nut on a table stand. Plantains are used in a very popular and common Ghanaian dish called fufu. When you walk down the streets in Ghana, you can see and hear the noise of people pounding plantains, cassava, and yam to make fufu. Cassava and palm nuts are also very popular in traditional Ghanaian dishes.

Araba is a member of the lending group, Nyame Beba (meaning "God will come") of Elmina. The group members guarantee loans through a group repayment pledge. Peer support provides the incentive to repay; if one person in the group defaults, the group members make up the payment amount. The members of this group have known each other for many years and provide a lot of support for each other as they all work inside the Elmina market.

One challenge that Araba faces is the fact that cassava becomes rotten in a relatively short period of time. So, Araba has become a very good saleswoman in order to sell all of her all stock. As a result, Araba now needs a loan to purchase even more plantains, cassava, and palm nuts. She wants to maintain these three products because they are the most profitable for her to sell.

Right now her youngest child just graduated from high school and is waiting for his exam scores to see if he’s going to university. Araba is saving her profits to enable her to send her son to the university when he gets the results.

Lenders to this entrepreneur

Aussie
Saint Louis, MO
United States

Jane
Providence, RI
United States

Claus-Peter
www.kivafriends.org,
Germany

Al
Pittsburgh, PA
United States

Cheryl
Stillwater, OK
United States

Jason
Matthews, NC
United States

Deborah
Riverview, New Brunswick
Canada

Anonymous
Calgary, Alberta
Canada

Dean
Winnipeg, MB
Canada

Jesse
New York, NY
United States

Kathy & Mike
Lakefield, Ontario
Canada

Andrew and Lauren
Charlottesville, VA
United States

KivaFriends.org
Geneva, NY
United States

yvonne and luke
jacksonville, FL
United States

J
Lincoln, Nebraska
United States

Karen
Providence, RI
United States

Denise's Pebbles
Cobourg, Ontario
Canada

Amber
Canyon Lake, TX
United States

Nancy
Anchorage, AK
United States

Caroline
Denton, TX
United States

Anonymous
Woodbridge, Ontario
Canada

Anonymous
Houston, TX
United States

Karen Perez
Toronto, Ontario
Canada

Matt
Chicago, IL
United States

Journal entries for Araba Asankoma

Loan has been disbursed Entrepreneur: Araba Asankoma Location: Elmina, Ghana Thank you for your loan. It has been disbursed to Araba Asankoma by Sinapi Aba Trust in Ghana. We are excited to watch this business grow. Over the next 6 months, Sinapi Aba Trust will be collecting repayments from this entrepreneur and posting progress updates on the Kiva website.
Posted by from Elmina, Ghana Dec 11, 2007
Comment on this entry

Update on Araba Asankoma Entrepreneur: Araba Asankoma Location: Elmina, Ghana Araba Asankoma business is still going on. Her business is more revived now. Araba attributes this to the helping hand lent to her in the form of loan. She has been able to procure more stock of plantain, cassava and palm nuts to serve her customers. Araba says over the last nine, she has been able to make very good profit and reinvested the profit into the business for more expansion. She has also been more supportive to her family now. She has been able to pay the school fees of her last born who is in teacher training college. According to Araba, her husband is very proud of her now for her improved support to the family. Her husband is a security officer. She took a loan amount of $1050 and has completed repayment. She says she cannot express how happy you have made her. She says many thanks to you and God bless you all!
Posted by Frank Owusu-Boakye from Elmina, Ghana Feb 25, 2009
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Repayment Schedule for Araba Asankoma

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	Expected Repayments	Actual Repayments	Comments
March 2008	$175.00	$175.00	Repayment Received
April 2008	$175.00	$175.00	Repayment Received
May 2008	$175.00	$175.00	Repayment Received
June 2008	$175.00	$175.00	Repayment Received
July 2008	$175.00	$175.00	Repayment Received
August 2008	$175.00	$175.00	Repayment Received