Interviews and Profile Recording

Yesterday saw the Group A of FOMWAG Women attending to our office for the profile information on their social and economic circumstance to be taken so as to evaluate their potential to repay back the loans. Today, Group B, also comprising 4 women within FOMWAG also had their profile information recorded.

It has been interesting so far as each woman seem to present quite a solid plan. We have also notice that, our initial micro loan to the women seem not to be sufficient to really make a lot of impact though the women appreciate the little we are able to give them to cushion their businesses. None of the women has so far asked for 50 cedis or even 100 cedis. When we ask them how much they seek as loan, they all mention 200 cedis. One woman today mentioned 1000 cedis and gave us a detailed plan of how she was going to utilise the funding. Her story what quite inspiring as she has been able to sell Shea butter for over 30 years, using proceeds of same to take care of her two children with two of them currently in Senior High School.

VPWA microfinance scheme is giving out loan amount of 50-100 cedis but with the eight profiles taking so far, we might end up having to give 100 cedis upfront to each of the successful applicants.

Wednesday will see to the interview of Group C, and Group D shall also have their interview on Thursday.

On Friday and next week Monday, we are visiting the businesses and residence of the women where we shall officially inform them of their approved loan facilities.

We will then schedule a date for them to come to our office to collect their loan amounts.

Instalments repayments of loans start after 14 days on receipt of loan.

Stay tune for more update from VPWA Microfinance unit as we empower women of GA West Against poverty so as to meet the MDG’s goal 1 of reducing extreme poverty.