WOMEN ENTREPRENEURS IN THE INFORMAL SECTOR AND INTEREST IN FORMAL INSTITUTIONAL CREDIT
The organization was established for the purpose of facilitating Micro-finance Institutions, MSME & SME’s
Sobre ti
Sobre ti
Nombre
MADONNA AFIBA
Apellido
DOLPHYNE
URL en Twitter
URL en Facebook
madonna.dolphyne
Sobre tu organización
Nombre de la organización
Centralian Consulting Foundation, Takoradi, Ghana
Sitio web de la organización
País de la organización
Ghana, WE
Países en donde este proyecto está creando impacto social
Ghana, WE
Tu organización es
OSC/ONG
¿Cuánto tiempo ha estado operando la organización?
Más de 5 años
¿Tu organización ha recibido premios y/u honores? Cuéntanos sobre ellos.
N/A
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Innovación
Selecciona la fase que describa mejor el momento en el que se encuentra tu emprendimiento
Idea (estás listo para lanzarla)
¿Cuánto tiempo se lleva poniendo en práctica tu iniciativa?
Operando más de 5 años
La necesidad: ¿Cuál es el problema que tratas de solucionar?
In many developing countries such as Ghana the vast scale and rate of the informal sector presents a dilemma and a challenge for Governments, Social Partners and the Civil Society alike. The informal sector encompasses employment situations which not only differ from those in the formal sector, but also infringe upon established rules and laws. A challenge, as it absorbs a large and growing fraction of the labour force and provides a “safety net” for the poor, finding themselves excluded from formal employment and income opportunities. . Access is particularly low for rural people and in certain parts of the country. Needs for Credit access are mostly urgent among micro and small rural entrepreneurs, many of whom are women.
La solución: ¿Cuál es tu solución? Sé específico.
My mission is to enhance the advancement and empowerment of women in the informal sector through the provision of Savings and Credit facilities and other technical support especially giving direct financial service through Saving Mobilization and Granting of Credit/Loans to marginalized women, groups particularly women in small-scale business.• To motivate marginalized groups, women to have access to the much needed credit and cash to enable them improve upon their productive capabilities their various enterprises for sustainable development.
My clientele consists of small sale women entrepreneurs’ majority of who engage in small sale enterprises such as agriculture, food-processing, marketing among others like “Makola Women/Traders” fishmongers, bakers.
The client becomes eligible to apply for a Loan after saving regularly for at least six months after satisfying all lending requirements minimum and maximum Loan maturity period ranges from 3 months to 12 months respectively
El Modelo: Muéstranos a través de un ejemplo específico cómo tu solución hace una diferencia, incluye tus actividades primarias
Organizing programs as detailed below:
• Close targeting of the most needy borrowers
• Decentralizing loan delivery and management systems through intermediary institutions or parallel banking system
• Group formation to ensure financial discipline and
• Support systems to enhance productivity
Offering primarily short-term working capital loans
• Having a turnaround time for loan approval of less than 2 weeks
• Providing services close to borrowers home or work
• Charging interest rates significantly above rate of inflation and
• Having lower salary levels than financially less viable programs
El mercado: ¿Quiénes son tus pares y competidores? Identifica a otros que también estén trabajando para dar respuesta a las necesidades que tú abordas y en qué te diferencias de ellos. ¿Cuáles son los desafíos que estos jugadores podrían representar para tu éxito o crecimiento?
My peers and competitors in the market are Women World Banking;Ghana Mutual Assistance Susu Limited {SUSU} under the Non Financial Banking Institutions {NBFI} PNDL.328;Rural Banks and Non financial Institutions
Esta presentación se trata de
Impacto social
Historia de la fundación: Queremos saber acerca del momento en el que hiciste "¡Ajá!". Comparte la historia de dónde y cuándo el/los fundador(es) vio (vieron) el potencial de esta solución para cambiar el mundo.
As an Expert in the adoption of small scale enterprises I observed that Micro enterprises have been seen as having particularly advantages for women: e.g. their flexibility and location in or near women’s homes, ease of entry and links with the local markets. Supporting their entrepreneurship is seen as having important “trickle down” effects on wider poverty alleviation and gender equality. Female entrepreneurs have been given particular characteristics developed partly as strategies to overcome economic and other discriminations
• The use and investment in social networks
• A greater reluctance to take risks; and
• A tendency to diversify in order to minimize risks
With the growing role of female micro enterprise {informal sector} women will need to rely on the success of these strategies looking at the constraints they face and I chose to see this solution as a potential to change the world
Por favor, describe el objetivo de tu iniciativa: un resumen de lo que están tratando de lograr
This Project seeks to promote growth and reduce poverty in Ghana amongst rural women, broadening financial mediation in the informal sector by strengthening operational linkages between women and Formal Institutions and Rural Community Banks and building their capacities. The components will focus on strengthening rural women's operational effectiveness; logistics finance technical assistance needed to implement and providing support to the women
¿A qué barrera(s) a la inclusión financiera tu solución busca dirigirse? (selecciona todas las pertinenetes)
Físicas y otros obstáculos de accesibilidad que impiden que los servicios financieros lleguen a las comunidades, Falta de productos financieros asequibles adaptados a las necesidades de las comunidades marginadas y excluidas, Poderosos incentivos para que los proveedores de servicios financieros asciendan en el mercado.
Si ha seleccionado "otro", por favor especificar qué otras barreras a la inclusión financiera tu solución busca dirigirse
¿Para qué comunidades marginadas o excluidas tu solución creará un acceso a servicios financieros valiosos, asequibles, seguros e integrales?
TO ALL RURAL COMMUNITIES IN ALL TEN REGIONS IN GHANA
¿Tu solución podría operar en otros conextos o regiones? Si así fuera, ¿en dónde?
Yes my solution can work in other geographies or regions because The plausibility of these assumptions is largely borne out by empirical evidence of the positive effects of Lending/Credits on the livelihood of poor women especially in Africa
• A study from Ghana confirms improvements in women’s physical mobility, economic security, ability to make own purchases, freedom from family, domination and violence, political and legal awareness and public participation as a result of a more stable integration into micro finance circuits
Credit to women has positive effects on the schooling of girls, it increases women’s asset holdings and is a significant determinant of total household expenditure
Enhanced women’s empowerment such as increased self-confidence and better cooperation with neighbours has also been observed in Thailand
Si tu solución tuviera un éxito espectacular, ¿cómo serían las cosas diferentes en 10 años?
It seems obvious that the impact of credit services to women to women entrepreneurs in the informal sector in 10 years time will be higher when women actually control the financial resources acquired in their name. Increased control is likely
• To contribute to women’s empowerment
• To facilitate women’s entrepreneurship
• To assist women in their reproductive tasks
• To ease their repayment burden
¿Qué tendría que haber cambiado para que esto sucediera?
A “more efficient and continuous supply of financial services that allow women micro entrepreneurs to take advantage of economic opportunities stressing institutional viability
• reducing cost due to increased efficiency in financial technologies
• emphasizing market knowledge which lead to better knowledge of customers characteristics and financial technologies
• using concepts of micro finance which over both the enterprise and household sphere
¿Cuál ha sido el impacto de la solución hasta la fecha?
I will seek to strategically position women to access opportunities and ensures women organizations and networks will become aware of their roles and responsibility better and also work for the realization of goals of the various associations and individual aspirations of their members
The women will acquire skills to enhance their capacity to lobby and network on behalf their members
The women will also acquire skills to enhance their capacity to lobby and network on behalf their member sector and enhance the growth of their institution.
Cuál es tu impacto proyectado para los próximos 5 años?
It is widely assumed that Credit or Lending will have a positive impact on women’s livelihoods in leading to higher income that will help women to better perform their reproductive role as
• brokers of health, nutritional and educational status of other household members
• increasing women’s employment in micro enterprises and in improving the productivity of women’s income-generating activities
• enhancing their self-confidence and status within the family as independent producers and providers of valuable ash resources to the household economy
Las iniciativas ganadoras presentan un plan fuerte de cómo van a alcanzar y realizar un seguimiento del crecimiento. Identifica tus metas a seis meses para el crecimiento de tu impacto
Identifica tres grandes tareas que tendrás que completar para llegar a las metas de seis meses.
Tarea 1
Needs Assessment stage
Tarea 2
Its development/Implementation
Tarea 3
Monitoring & Evaluation
¡Ahora piensa en grande! Identifica tu meta de impacto a 12 meses.
Identifica tres grandes tareas que tendrás que completar para llegar a tu meta de impacto a 12 meses
Tarea 1
Conducting a Needs Assessment/Survey
Tarea 2
Intervention Area #2: Deepen Outreach to Rural Areas for rural women
Tarea 3
Information campaigns, monitoring & Evaluation and Reporting to be done
Sostenibilidad
Cuéntanos sobre tus alianzas.
1. Workshop for women entrepreneurs with turnovers $500,000 to $1 million at the Guest House Maggi, Western Region and trained them in Business Management.
2. Organisational Building, Sensitization and Mobilisation of SMEs on association usefulness, Creation of Sector Associations of ASSI, Establishment of Business Advisory Service, Capacity Building
¿Actualmente te estás dirigiendo a otras poblaciones, lugares o los mercados para tu innovación? Si es así, ¿dónde y por qué?
RURAL SETTING AND MICRO FEMALE ENTREPRENEURS IN GHANA
¿Qué tipo de sistema operativo y factores internos de la organización hacen que tu innovación sea un éxito?
Overall Goal
To substantially enhance performance of the microfinance in the western region of Ghana sector by establishing a growing, vibrant and sustainable market of microfinance product/ service users, providers, and suppliers of capacity building support for rural women micro entrepreneurs.
1.2. Objectives and outputs
The strategies are recommended with the key objectives of:
(i) Increasing outreach (depth and breadth)
(ii) Increasing product development/ innovation
(iii) Building the internal capacities of MFIs to grow sustainably
(iv) Enhancing the business and financial awareness of the
population
(v) Enhancing beneficial industry cohesion/ collaboration.
(vi) Securing coordinated financial support for the industry.
Por favor, pon en claro las necesidades u ofertas que hayas mencionado anteriormente y/o sugiere categorías de apoyo que no están especificadas en la lista
Unless micro-finance has a strategic vision for poverty elimination it risks being merely a means of shifting the costs of development onto poor people, particularly women.
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 | 47 weeks ago MADONNA AFIBA DOLPHYNE updated this Competition Entry. |
| 47 weeks ago MADONNA AFIBA DOLPHYNE submitted this idea. |