Access to credit facilities these days in Ghana has been difficult due to the current state of our financial services. Petty traders in cities find it difficult to access credit facilities due to lack of guarantors on their side.
UCSOND being an NGO which has been engaging both rural and urban communities took upon itself, as part of it climate change resilience livelihood to train communities in village savings and loans as a safety net in case of disaster.
Axim is the district capital of Nzema East municipal in western region. The economic activities of the people of Axim is fish processing and trading. Police quarters is a suburb of Axim with most of the community members being petty traders who find it difficult to acquire loans to support their business.
UCSOND project officers introduce the village savings and loans concept to them. The group in Police Quarters is made up of men and women who came together to save and access credit facilities.
The group is made up of 18 members with 2 being male and 16 female who decided to name the group Noboa. Members have benefitted from the loan facilities the group offers. The group members have used the loan facilities to expand their businesses.
Others have paid the school fees of their wards. The contribution of members ranges between a minimum of Ghc 500.00 and Ghc2, 000.00.