NGO sets up former migrants to give GH¢135,984 in loans to 12
The Savings Banks Foundation for International Cooperation (SBFIC), a non-governmental organisation concerned with providing people indeveloping countries with access to financial services, has issued out GH¢135,984 in loans to 12 former Ghanaian migrants as part of an effort to combat irregular migration.
The beneficiaries of the loan facility are Mr Abdallah Osman (GH¢14,600), Mr Abdulai Zakaria (GH¢11,190), Madam Faida Boye (GH¢12,384), Mr Michael Danso Nuak (GH¢24,000), Madam Barbara Asman (GH¢13,750), Mr Ijahra Larry (GH¢13,170), Mr David Lawson (GH¢3,500), Mr Emmanuel Senanu (GH¢15,200), Madam Grace Kagbo (GHS¢740), Madam Magdalene Ontoba (GH¢9,000), Madam Yvonne Mensah (GH¢7,600) and Hagar Nketia (GH¢7,850).
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The Project Coordinator of the SBFIC, Mrs Maike Ewuntomah, said the loans were part of a pilot project called "Perspektiv Heimat" intended to remind prospective migrants and returnees of financial opportunities that existed in their home countries and to aid them to set up businesses.
Collaboration
She said the beneficiaries were selected through a collaborative programme with the Ghanaian-German Centre for Job Creation and Migration and local NGOs involved in migration.
The beneficiaries were later taken through a year-long training and coaching programme, she said.
"It is after the training and coaching that the beneficiaries present a proposal and a budget for what they want to do to a small committee that decides on the feasibility of what they want to do and the funds required," Mrs Ewuntomah told the Daily Graphic in an interview after the presentation.
"We also provide membership to credit unions for all the trainees which guarantees them access to loans after six months. The interest rates with the credit unions is generally below 20 per cent; it is around 16-19 and they pay back within 24 months," she explained.
Beneficiaries
The Regional Coordinator of the SBFIC in West Africa, Mr Kwang-Yung Jung, assured the beneficiaries of the support of his outfit, adding that they had a huge responsibility to ensure that Perspektiv Heimat was a success.
Expressing gratitude to the SBFIC on behalf of the beneficiaries, Mr Abdulai Zakaria, a former migrant to Spain, said he was going to set up a barbershop in Tamale and was confident of repaying back the loan before the deadline.
He said "It was very tough going to Spain and it was not easy there either.
However, I heard about this project on the radio when I returned to Ghana and I decided to try it. I am happy to get this money because it has always been a dream to own a barbershop, and I know I would be a success".