Microcredit was the subject of a meeting between our Microcredit Manager, Mavis Bobie, and the women of Timber Nkwanta. With her baby on her back, Mavis went to tell them about Ashanti Development’s microcredit project and ask if they’d like to take part.
In case you haven’t come across microcredit, we start by helping each woman to produce a costed plan and then lend her money to set up a small business, normally in trading or agriculture.
The women work in groups, and each guarantees the loans of the others in her group. Each can have up to three loans, which she must repay with interest.
When all the debts are repaid, we move the project to a new village and start again. In Ashanti, the scheme is very popular and we know of a few women who it has made very rich.