The Tumu Business Resource center in partnership with Vision Fund has offered a financial support to women in small and medium scale business.
The Tumu Business Resource center which started operations since the July, 2020 and under the Ministry of trade and Industry with the aim of bringing to the door steps people living in vulnerable and rural communities with business skills training, Business management and sourcing of funding partners to create a conducive environment for businesses to thrive.
Vision Fund Ghana is a non-governmental organization that serves low income clients living in vulnerable and rural communities by offering financial and livelihood solutions.
It is against this backdrop that, vision Fund Ghana has agreed to partner Tumu Business Resource center to support women in petty trade by way of financial support.
This support scheme has been divided into two models with the first model dabbed ‘’commercial model ‘’ and that is geared towards Village Savings and Loans Groups comprising mostly of females or women and the male amongst the various groups who are into petty trading or small businesses.
It comes with a condition that, a VSLA group should have operated for not less than two years and had had shared of whatever savings accrued thereof.
The second model which is the Agric model targeted at the VSLA groups who are into agricultural activities such as crop cultivation and animal rearing.
Speaking to the Finance and Administrative manager in the person of Mr.Bawa Abdul -Rahaman he disclosed that, having disbursed to the first beneficiary groups group averagely comprises of 30 membership hence almost 400 members mostly women have benefited from the first trench. He also disclosed that, 50 VSLA groups is their target for the year.
He further made it known that, the first repayment plans went successfully and hence given his outfit and the funding partner which is Vision Fund the hope that, the support will be sustainable and most likely to alleviate many from poverty.
Also speaking to this report was the General manger for the Tumu Business Resource Center in the person of Mr.Aminu Sulemana who further elaborated on the implementation of the financial and livelihood solutions to women into petty trade or businesses said, the support scheme is targeting about 1,500 beneficiaries at the end of the program and that will have a trickle down effects on their dependents in terms of irking out living. He disclosed that, the beneficiary areas include Sissala East Municipal and Sissala West District in the Upper West Region. The manager further added that, five groups in Sissala East Municipal and six groups in Sissala West District have so far benefited from the support system.
Mr.Aminu Sulemana further disclosed that, aside financial support to their clients, there are other equally important services they render and which include but not limited: Business management training, book keeping, entrepreneurial training, financial management and business proposal writing.
The general manager concluded by adding an on-going service that is helping to mitigate youth unemployment in the country. The program dabbed ‘’Youth Employable Skills Training ‘’which has currently got some unemployed youth undergoing employable skills like satellite installations and hence would just create employment for them upon completion of training as there is demand for their services in society. And that, other employable skills such as welding and fabrication, carpentry, masonry, and sewing will be outdoored. This he said is sponsored by the Rural Development Fund, Matching Grant Fund and under the auspices of Ministry of trade and industry Rural Enterprise programe.
Madam Jamila wogie who is 39 years shared her appreciation for been a beneficiary of the financial support as that support has enabled her restocked her provisions store as it was locked due to lack of support. She says, the financial boost she earned has enabled her to take care of her two children both in Senior High School final year and thus wonders what her fate would have been like without this intervention. She therefore made a passionate appeal that, provisions be made to increase the amount for any committed and non-default members.
Another client known as Madam Memuna Ibrahim a fry yam seller, who posed for interview to this report, says, the interest rate and time for repayment is so flexible for petty traders like her and thus see the support scheme as a tool for poverty alleviation. She said, being part of the first beneficiaries, she is almost done with repayment and hence would apply if given the chance to scale up her street vendor business.
As at the time of filing this report VSLA groups were spotted at the Business Resource center waiting for another disbursement and also a meeting with Vision Fund officials.
Source: Ayamga Bawa Fatawu