The contract between the French Embassy in Accra and ID-Ghana was signed today by the French Ambassador in Accra, HE Francis Hurtut (right) and the Executive Director of ID-Ghana (Romain Tevels, center), in presence of the Deputy Director of ID-Ghana (Bruno Achana, left).
As mentioned in a previous article (see this blog on 9th, January), this funding of € 24,000 over one year will enable ID-Ghana to develop an new loan product meant for the most deprived micro entrepreneurs of Accra. This product, named "Kick Start loan", won't have any interest or processing fee.
The idea is to identify potential micro entrepreneurs in a particularly difficult situation that does not allow them to manage a "standard" loan. A reinforced social follow-up would enable them to deal with the financial help (i.e. the loan) that ID-Ghana would give them. In a time span of one to two loan cycles (approximately 3 to 6 months), the micro entrepreneur will be in a position to upgrade herself and take a normal loan through our 'Onipa Nua' group methodology.
See also the related article on the French Embassy web site.
As mentioned in a previous article (see this blog on 9th, January), this funding of € 24,000 over one year will enable ID-Ghana to develop an new loan product meant for the most deprived micro entrepreneurs of Accra. This product, named "Kick Start loan", won't have any interest or processing fee.
The idea is to identify potential micro entrepreneurs in a particularly difficult situation that does not allow them to manage a "standard" loan. A reinforced social follow-up would enable them to deal with the financial help (i.e. the loan) that ID-Ghana would give them. In a time span of one to two loan cycles (approximately 3 to 6 months), the micro entrepreneur will be in a position to upgrade herself and take a normal loan through our 'Onipa Nua' group methodology.
See also the related article on the French Embassy web site.
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