Atwima-Mponua Rural Bank Loans USD 431,000 to 2,000 New Microcredit Borrowers in...

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Jan 2007
Ghana , January, 22 2007 - 2,000 new micro-credit borrowers in Ghana now have access to funds thanks to the lending of an additional 3.8 Billion Cedis, or about USD $431,000, by Atwima-Mponua Rural Bank at Nyinahin. A recent Ghana News Agency (GNA) release indicates that the Rural Bank is focusing on group loans, but also states that the head of the microfinance department, Dominic Baah Ayim, is concentrating on encouraging perpetually good individual savings habits. Mr. Baah Ayim asserts that an important component of successful micro-lending in Ghana is teaching people to avoid the “temptation of flamboyant lifestyles whenever their businesses begin to grow.”

According to a different GNA release on October 31st, the Atwima-Mponua Rural Bank has made 46 group loans covering 480 individuals for a total of 1.818 billion cedis or about USD $206,000.  Besides being financially successful, reporting approximately USD $138,000 in before-tax profits for 2005, the bank has also made charitable donations of cement, roofing, and painting supplies to communities in the area.  No other financial information was available. Atwima-Mponua Rural Bank does not report to The MIX Market, the microfinance information clearinghouse. 



 

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