Ghana Women Fund (GWF) Ltd was established in 2001 to cater to women who ordinarily cannot access credit services from regular banks and financial institutions. In 2010, GWF launched a new credit program that offers water and sanitation loans to people in Ghana living in slums and informal settlements. The high density of unplanned houses in slum areas of Ghana makes it virtually impossible for the communities to have piped water connections or sanitary facilities. The only feasible solution for sustainable clean, safe and hygienic water and sanitation services in these slums has been through privately owned services charged at nominal fees. 
GWF’s water and sanitation loans are used to provide safe, clean and hygienic water and sanitation facilities that improve the health of the people living in these slum areas. Given the huge populations living in Ghana’s slums, the demand is very high for GWF’s loans.
A unique lending approach:
The target population for the water and sanitation loans is micro-entrepreneurs who live in the slums. GWF identifies and trains potential entrepreneurs who want to engage in water-related businesses such as water kiosks, bath services for public use and sachet water production. The loans offer micro-entrepreneurs an opportunity to improve their economic livelihood through increased income. While improving their own lives, the entrepreneurs also bring cleaner water to the slum communities in Ghana where they live.  

A Note on Ghana Women Fund's Portfolio Yield:

We care deeply about the cost that Kiva borrowers pay for their loans, which is why fair pricing is a core part of our initial due diligence process for Field Partners. With Kiva's 0% capital, many of our Field Partners are also able to add additional value to their loans by reducing interest rates, offering non-financial services or creating new loan products.

For partners with reported portfolio yields or average APRs higher than 50%, Kiva takes steps to check that the high rates are justified by the impact of the loans. Kiva also verifies that the partner is not generating unreasonable profits or paying inflated salaries, and that the partner’s elevated operating costs are justified by its operating environment and/or the design of its loan products.

We seek to support loans that don’t impose an unjustifiable cost burden on hard-working borrowers. We nevertheless recognize that in order to reach vulnerable and excluded people with high-impact products and services, some of our partners incur high costs that necessitate charging higher-than-average costs to borrowers in order to allow for sustainability and scale. With this partner, Kiva capital is supporting a loan product that costs less than the partner's typical products.

Factors that drive up the costs that this partner organization charges its borrowers include:
  • They operate in a market with high inflation—averaging 17% from 2014-2016, which means that the rates you see on Kiva are overstated, since loans are given in local currency, which lost value much more quickly than the U.S. dollar.
  • They provide more than just cash to many of their borrowers, including costly wraparound services such as healthcare, financial or business training, agricultural extension services, insurance or access to education.
  • They work in areas with very poor infrastructure, such as limited roads. This increases the costs of finding clients and maintaining branch offices.
  • They’re a small company or organization that hasn’t yet achieved the scale and efficiency necessary to reach sustainability and reduce pricing, but the impact of their services merits the opportunity to prove their business model.

Repayment Performance on Kiva

    This Field Partner All Kiva Partners
  Start Date On Kiva Dec 19, 2014 Oct 12, 2005
Total Loans $179,125 $994,015,325
Amount of raised Inactive loans $5,250 $257,450
Number of raised Inactive loans 8 304
Amount of Paying Back Loans $91,925 $153,841,625
Number of Paying Back Loans 115 195,782
Amount of Ended Loans $81,950 $839,916,250
Number of Ended Loans 140 1,055,620
Delinquency Rate 29.83% 8.69%
Amount in Arrears $12,677 $8,875,692
Outstanding Portfolio $42,494 $102,174,618
Number of Loans Delinquent 67 30,836
Default Rate 3.33% 1.42%
Amount of Ended Loans Defaulted $2,726 $11,890,081
Number of Ended Loans Defaulted 4 34,252
Currency Exchange Loss Rate 1.16% 0.45%
Amount of Currency Exchange Loss $2,076 $4,501,882
Refund Rate 9.31% 0.60%
Amount of Refunded Loans $16,675 $5,985,075
Number of Refunded Loans 22 6,003

Loan Characteristics On Kiva

    This Field Partner All Kiva Partners
  Loans to Women Borrowers 72.28% 75.51%
Average Loan Size $687 $398
Average Individual Loan Size $687 $627
Average Group Loan Size $0 $1,756
Average number of borrowers per group 0 7.7
Average GDP per capita (PPP) in local country $3,500 $5,871
Average Loan Size / GDP per capita (PPP) 19.63% 6.78%
Average Time to Fund a Loan 4.84 days 6.92 days
Average Dollars Raised Per Day Per Loan $141.87 $57.54
  Average Loan Term 11.69 months 11.13 months

Journaling Performance on Kiva

    This Field Partner All Kiva Partners
  Total Journals 111 519,181
  Journaling Rate 48.20% 41.20%
  Average Number of Comments Per Journal 0.00 0.05
  Average Number of Recommendations Per Journal 0.00 1.14

Borrowing Cost Comparison (based on 2015 data)

    This Field Partner Median for MFI's in Country All Kiva Partners
  Average Cost to Borrower 50% PY 53.00% PY 26.28% PY
  Profitability (return on assets) 3.7% 0.3% -1.13%
  Average Loan Size (% of per capita income) N/A 13.00% 16.31%

Country Fast Facts

Field Partner Staff

Anita Aboagye
Emmanuella Sekyi
Leeda W