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Margaret – Ghana

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Margaret – Ghana

Margaret was born and raised in the village of Awosoase, Ghana. As a single mother she often depended upon others in her family and community to supply food and money so she could properly provide for herself and her children. She didn’t like this lifestyle and wanted to make a change that would allow her to become self-reliant.

She wanted to start her own business, and had every intention to do so, but lacked an education and funding. Then she heard about Mentors Ghana and the weekly business classes that they taught to help prepare aspiring entrepreneurs to receive small business loans. Margaret eagerly attended every class.

She was placed into a loan group in which if a member is unable to repay his or her loan, the other members of the group will have to make up the difference. However, many in her group thought she would not be able to repay the small loan she would receive due to her lack of business experience. They did not want her in their group.

In spite of this lack of confidence the Mentors Ghana staff members saw her determination. She had attended all of the training and was eager to move forward. Margaret received her first loan of 200 Ghana cedis, or the equivalent of $45 US.

She began selling roasted plantains (bananas) and yams on the main road in her village. She knew that she had no competition for her new business since no one else in town sold these items. She started out selling little by little. Soon word got around and she began to attract more customers from the community. She has used this small loan to make a big difference in her life, and her children’s lives.

Margaret began with no income and now makes about 15 Ghana cedis a day, and 90 Ghana Cedis weekly, about $20 US. This may seem like a small amount but it covers the cost she needs to be independent and feel happy about her situation. She is currently repaying her first loan and seeking a second for expansion of her business.

She is always thinking of innovative ways to make her life and her business work for her, and is now capable of achieving the life she has always wanted. The classes taught by Mentors Ghana helped her learn money management, record keeping, and how to believe in herself as an entrepreneur. She has changed her circumstances and is now completely self-reliant thanks to Mentors Ghana.