Micro-credit and Training
SP is engaged in formation, animation and disbursement of loans to women groups. The loan-taker has to be a member of an organised group of a maximum of 30 women. No group will receive loans without having been trained first. SP?s Loans Officers disburse the loans in the communities to the women groups and collect repayment. In this way the loan-takers do not have to spend time on transport. The major groups of loan-takers are women groups engaged in Sheabutter production, Groundnut processing and Rice processing.
A new pilot programme started in December 2005 providing loans to farmers (both men and women) engaged in crop production at the Bontanga Irrigation Dam. 4 groups with a total membership of 59 farmers have been formed. If the pilot project turns out well SP will expand the programme to include more farmers.
SP has been registered as an NGO i.e. a MFI (Micro-Finance Institution) and has to achieve financial sustainability within the next year. SP is a member of Ghana Micro-Credit Finance Institutions Network (GHAMFIN) and a member of Associations of Financial NGOs (ASSFIN).