Programs / Microfinance / Communities / Srafa Aboano «

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

About Srafa Aboano

Srafa Aboano is a relatively large community of about 260 homes with a

population of approximately 1900 people. It is a coastal community which

does not have access to a main road and the nearest town of Otaum is

10 kms. away, which is mainly accessible only by walking. When Global

Brigades Ghana entered the community through Medical Brigades in June

2011, the community did not have access to clean water or healthcare.

This infrastructure deficiency has deprived the community of other financial

services as well, till very recently. Srafa Aboano is one of Global Brigades

Ghana's Holistic Communities, and currently in addition to Medical and

Microfinance Brigades operates Water Brigades and the Public Health

Hybrid Brigades in the community as well.

 

Srafa Aboano's Economic Challenge

Srafa Aboano's community members are mainly dependent on fishing
and farming for sustenance. The primary goods and food products

produced in the community are smoked fish, tigernuts, maize and cassava.

Fishing is a time and capital-intensive industry and thus the barriers of

entry as an individual are very high. Community members pool their

resources together to procure boats and fish together. Both occupations

are climate dependent resulting in revenue being extremely volatile.

 

Before Global Brigades helped the community establish the Community

Development Fund, the community had absolutely no access to any

financial institution or its services. The closest bank is in a town almost

10 kms away, normally accessed by foot, where they community

members do not have access to free savings or small loans. Additionally,

so Susus operate in the community.

 

Microfinance in Srafa Aboano

Srafa Aboano is one of the newest communities the Microfinance Program in Ghana expanded to in January 2013. The Microfinance Brigades in-country team and brigaders from two different universities have worked in this community since then. During this time, staff and volunteers have worked with community members to:

     •  Train and establish a Community Development Fund (CDF).
     •  Provide educational seminars to adults and children in the community on the importance of
        savings.

     •  Door-to-door community visits to further encourage community members to open accounts in the
        community bank and actively save.
     •  Promote voluntary savings in the community to reach a level of sustainable capital for the CDF.

Our work in Srafa Aboano is far from done. Their CDF have shown phenomenal growth since its establishment and the community is very close to accessing loans through the CDF. Additionally, the community is enthusiastically waiting for the business development aspect, which will be a game-changer in a community like this.

 

Business Profiles for this community coming soon!

 

A SWOT Analysis of the Community and its Development Fund

 

Strengths

 

     •  CDF Leader Commitment - The CDF leaders that have remained are very passionate and
        enthusiastic about how the CDF could contribute to the community development and financial
        infrastructure in Srafa Aboano.

 

     •  Community Outreach - Not only the CDF leaders, but most community member are aware of the
        CDF and the financial products that are available and that are on the way. It definitely helps to be
        the first financial system in the community.

 

 

Weaknesses

 

Opportunities

 

    •  Introduction of Loans - There is a scope to introduce loans through the CDF very soon.
       Community members have patiently waited for this and with on-going education through the team
       and brigaders in the community, this injection of capital can have very positive effects.

 

    •  Business Development - The community has not seen the effect of business development at an
       individual level or at a community level in the past in any form. We believe that if they are at the
       stage to sustainably grow their businesses and see its effects, it can go a long way in the efforts to
       achieve financial sustainability. This opportunity can be channelized through work of Business
       Brigades to bring about long-term economic sustainability.

 

 

Threats

 

     •  Community Patience - It is a hope that the community commitment does not turn into frustration
        when expectations are not met. This could happen if the the loan education aspect takes long as
        we expect since the community has never really worked with a loan system before.

 

    •  Influence of other microfinance institutions – The community has not had a presence of
       financial services at all, till very recently. In October 2013, a financial institution offering micro-loans
       made a head-way into the community. There is no information from the community about the
       institution or the person facilitating the loans. This could be an overall positive for the community as
       they now have increased access to financial services, but this system can draw away from the
       goals of long-term sustainability, education and holistic development in the community.

 

 

Microfinance/Business Brigades Chapters that have worked in Srafa Aboano
Brigades Chapter	Month	Program	Volunteers	Brigade Projects
University of California, Los Angeles, USA + University of Texas - Austin, USA	January 2013	Microfinance	26	•  Brigade groups focused on promoting the community development fund within the community.   •  After the CDF was established with leaders in place, they started educating the community about the first product, Savings.   •  Through the brigade groups, community members were encouraged to open accounts at the CDF, establishing over 50 accounts   •  Provided seed capital to research business opportunities including a Salt Mine and Cold Store
London School of Economics & Political Sciences, UK	August 2013	Microfinance	14	•  The group concentrated on more savings education at a door-to-door level, leadership training for the CDF leaders as well as CDF information dissemination throughout the community.   •  In the past few months the CDF have seen an increase of accounts and capital, reaching our metric to introduce loans.
Columbia University, USA	January 2014	Microfinance	9	•  Brigade group worked with 10 potential loan applicants to develop financial plans (savings plan, investment plan and a potential repayment plan).   •  Identified 3 small family business with potential to grow through business consultations that will be facilitated by business brigades.   •  Carried out research into the agricultural products of cassava and tigernuts to help the establishment of a season-based agricultural loan product.

 

Current Status

Last Visit: 11th November, 2013

 

Nearby or surrounding communities seeing the benefits the CDF is bringing to Aboano want to join the CDF to save their money. CDF Leaders are currently discussing the possibility of this but in the process have agreed to allow individuals that do not reside in the community but are natives of the community to avail of the services offered by the CDF.

 

The community has a very strong savings portfolio within the CDF, and to take the model forward GB is looking to pilot loans within the community.

 

 

Visit Other Programs in Srafa Aboano

Global Brigades strives to implement a model of Holistic Development in communities through a system of collectively implementing health, economic, and education initiatives to strategically meet a community's development goals. Learn more about the other programs being implemented in Srafa Aboano:

  BusinessCHWDental MedicalPublic Health InitiativeWater