Recovery Lending for Resilience in Ghana
Recovery Lending for Resilience in Ghana
VisionFund Ghana is supporting clients individually and in savings groups to affect the best recovery across the country.
Recovery Loans to Savings Groups in Ghana
VisionFund Ghana is ready to scale up its recovery lending to savings groups - informal community groups who use a simple, transparent method where groups accumulate and convert small amounts of cash into savings. VisionFund Ghana is lending money to the savings pool, ensuring that members can draw down on the group's savings and use them as a loan to kickstart their business recovery.
New agreements have been made between VisionFund branches and World Vision Area Programs, that will have special branches focusing on lending to savings groups.
Digitisation for Ghana
A fully costed business case for mobile money in Ghana showed substantial operational savings for VisionFund, alongside the benefits to clients in increased convenience and safety transacting through their phones. Mobile money, as part of the Recovery Lending for Resilience program, will speed up loan processing times for clients and loan officers, ensuring clients can have their loans ready as soon as they need them.
Mobile money will also reduce the risks which may arise from cash handling, and will facilitate transactions closer to client homes or businesses. VisionFund's proposed solution will also use local mobile money agents, keeping the community economy strong.
Empowered Worldview in Ghana
Our Empowered Worldview program helps our clients see that they are full of the potential God has given them, and can change their lives and the lives of those around them by learning an empowered mindset. Over five modules, our clients replace fearful and superstitious beliefs with the knowledge that God loves them, and are challenged to be more courageous and take risks in building their community, no matter how many or few resources are available.
VisionFund Ghana has hired a Transformation Impact Manager, who has already formalised a network of faith and development staff volunteers in each of VisionFund Ghana's 22 branches. 70 staff members have now been trained in the Empowered Worldview model, ready to take to communities and clients for a stronger, more empowered recovery.