With a microfinance package worth more than GH1.6 million this year, the Sonzele Rural Bank in Jirapa in the Upper West Region has helped a total of 1,146 women in its catchment areas.
The aid was intended to encourage people to take up jobs that would generate cash, such as hairdressing, weaving, brewing pito, producing soap, trade, and farming.
The remaining activities include processing shea butter, beekeeping, groundnut oil production, and soybean production.
They were revealed in an interview given by the bank's CEO, Abdul Sallam Bamie, as part of celebrations for International Women's Day at Jirapa on March 8th.
The bank has its main office in Jirapa and serves the five catchment regions of Nadowli, Lambussie, Wa, and Hain.
rural businesses
According to Mr. Bamie, the bank is actively organizing women to participate in rural businesses on a comprehensive level.
It is defined as "having access to technology, inventions, entrepreneurial skills, financing, and also knowing how to promote their products," according to him.
He explained that to alleviate rural poverty and raise living standards, they educated the women, utilizing local resources to do what they could do better before providing them with microcredits.
According to Mr. Bamie, the ladies have been divided into 43 groups and assigned credits based on their performance.
Several of the recipients stated their happiness over the financial facilities to engage in income-generating activities and, more importantly, their capacity to control their own fate.
Savings
On the value of saving, he noted that the bank's microfinance model had demonstrated that individuals with modest incomes could reduce frivolous spending by being persistent and building up a reserve fund to plan for the future.
The previously believed maxim that savings are produced when one possesses more than one needs has been shown false by this.
Saving money necessitates making a significant sacrifice to distinguish between requirements and wants, according to Mr. Bamie.
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