The Binyomoo Ogbede group is a group of women fishsellers who are located in the Teshie community of Accra, Ghana. Naomi is a group member who sells fish from her home. She is pictured second from the right. This will be Naomi's fifth loan with ID Ghana (she previously paid back four other loans successfully). This 800 GHS loan (Naomi's portion of the total loan) will allow Naomi to purchase more fish to sell. Naomi lives with her husband Stephen, who is a mason. The two have three children, aged 17-21, who all attend school.
About ID Ghana
ID Ghana is a microfinance NGO that provides financial and social services to underserved urban communities in Accra. ID Ghana’s socially-oriented business model provides clients with a number of social services, including financial literacy training, group discussions led by peer educators on health and nutrition education, child schooling, basic medical services, and counseling and legal services for women victims of violence.
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.