Thursday, February 7, 2008

Micro-Credit Financing for Women

NGO assists Women with Micro-Credit

The Ghanaian Times, Thursday, February 7, 2008. Page 28 (Business)

Edmund Mingle

Friends of Africa Foundation, an international micro-finance NGO has assisted 100 women with micro-credit facilities at Brekusuo near Aburi and its surrounding communities to enable them to engage in profitable business ventures. The move is to encourage the women, especially the youth in the area to be involved in entrepreneurial and income generating ventures as a way of alleviating poverty and to stop rural youth migration to cities in search of work.

Mr. Simon Wakely, Executive Director of the foundation, presenting cheques to beneficiaries said the foundation, seeks to help young people to develop themselves in a more sustainable manner. He said development of Ghana must be business driven where the youth played an active role in its economic liberation. Mr. Wakely said the foundation which is currently present in four countries –Uganda, Kenya South Africa and Ghana- has assisted many young people to cultivate the habit of self-dependency. “It is important to encourage young people to view an enterprise loan as a stepping-stone towards self-dependency and not develop a culture of relying on loans to maintain a day-to-day existence,” he said.

Faustina Darko, National Project Coordinator of the foundation said four communities, namely Ayim, Daman, Dedeman and Brekuso were benefiting from the micro-credit facility. She said an expanded project would be rolled out in phases, adding that the project had the potential of having real impact on the economic life of the people.

“This is a project that can have real impact on reducing poverty and providing opportunities for young women in rural Africa,” she said. Mrs. Darko entreated the beneficiaries to repay promptly to ensure continuity of the project as well as enable others to benefit.

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