After graduating from junior high school, Nana Yaa decided to set up her own banku-selling business (banku is a traditional Ghanaian dish, made using fermented corn/cassava dough that is mixed proportionally and cooked in hot water into a smooth, whitish, consistent paste). She prepares her banku on her own and proceeds to sell it in Aburansa (near Cape Coast).
With over four years' worth of experience, Nana Yaa is currently looking to further expand her enterprise. Unfortunately, she is limited, due to a lack of funding. As a result, this loan will be used to help her purchase more maize and cassava, thus enabling her to prepare and sell more of her tasty banku.
She aims to use the profits from her business to help support her husband, who is a farmer, with the upkeep of their house, while ensuring that their four children are able to experience a better life.
Important Information About CRAN
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.
CRAN's creditors - including Kiva - have entered into a new Restructuring Agreement (For more information, please see CRAN's Field Partner profile: http://www.kiva.org/partners/91 ). Kiva will extend its ongoing policy of allowing CRAN to continue to raise funds on the Kiva website. New funds raised will be used to make repayments on older CRAN loans via Kiva’s standard net billing process.