Yedi Nkonim Group
Nafisatu is the woman standing left in the photograph. She is 43 years old, married, and mother of two boys. Her business consists of selling maize. She intends to buy one big bag of maize with 900 GHS, which could fetch her a profit of 150 GHS in two weeks. She will use her profits to bolster her savings and help her husband cover the expenses of the household (children's education and food).
About ID GhanaID 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.
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