Orientation Closes for first 16 beneficiaries

Today mark the final series of orientation that has characterize the process to help our first group of loan applicants who hope to utilize their loans for to expand or start micro enterprises so as to help them actively participate in local economy and make enough money to fulfill their propose repayment plans with VPWA.

VPWA opened it operations at it Amasaman office as a Micro finance unit to help section of the population that has lost hope in their quest for financial freedom in the area.

The 16 women comprising the first line of beneficiaries has been divided in to group of four with each 4 members selecting one member as group leader. The Group leader shall guarantee for all group members and the leader of the association of 16 women serves as the witness. If a member fails to repay, the onus lies on the other members to pay for the delinquent member or they will not be qualified for any loans from our outfit.

Next week, each group has been scheduled to come to our office for detailed data capture.

We are hoping to process and approve their loans in the subsequent week so they can buy their stock for Christmas.

It must be noted that, VPWA has had to turn down over 50 credible potential beneficiaries of our scheme in this community in just two weeks. VPWA do not have enough funding to satisfy all potential applicants and thereby lessen their poverty. We are therefore operating with the first women group that approached us for the facility.

Funding for VPWA Micro finance project is from the personal contribution of VPWA Executive Director, Mr Hayford Siaw.