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Akotobu Group
In this Group: Florence, Elizabeth, Bernice, Emelia, Abigail, Wilson, Winifred, Mary, Susuana
The Akotobu Group consists of nine strong women who have an average age of 33 years and an average of two children each. They live in traditional extended families in the Teshie district of the city of Accra. They know one another through ties of vicinity, friendship, and commerce. To increase their financial capacity and improve their commerce, the group joined the microfinance institution ID-Ghana and are currently on their seventh loan cycle. Their six prior loans have been repaid in full. They are in the sale of maize, wax-prints, soft drinks, fish, and secondhand clothing.

Florence is the group representative who sells wax-prints and is 33 years old. She is married to a carpenter and they have two children. With her loan share of GHS 1,500, she intends to purchase different fabric of wax-prints to stock her business from the wholesalers in Accra.

Florence retails her merchandise at the market and from her home, for cash and not on credit. She hopes to earn good profit on this cycle of purchase, which will be used to reinvest in her business and repay her loan.

They need a total loan amount of GHS 7,200 at this level of the loan cycle.

Additional Information

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.

Tags

About Ghana

  • $2,643
    Average annual income
  • 30
    View loans »
    Ghana Loans Fundraising
  • $11,016,200
    Funds lent in using Kiva
  • 2.5
    Ghana Cedis (GHS) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A portion of Akotobu Group's $2,850 loan helped a member to purchase different fabric of wax-prints to stock her business from the wholesalers in Accra.
90% repaid
Repayment Term
10 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 31, 2014
Listed
Feb 13, 2014
Currency Exchange Loss:
Possible
Ended:
Sep 17, 2014