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GROUP PRESENTATION ON AN EXISTING BRICK AND MORTAR MICRO FINANCE BUSINESS IN GHANA
Table of Contents
1.0 Executive Summary………………………………………….…………………………………………3
1.1 Introduction……………………………………………………………………………………………………3
Table of Contents 2
3.1.1 Business Loans 8
3.1.2 Susu Loans 8
3.1.3 Salary Loans 8
Salaried workers who operate additional businesses 9
3.2. GISYN Savings Products 9
9.0 Institutional Assessment 19
9.7 Strategy 20
11.0 FINANCIAL AND RISK ANALYSIS 22
1.0 EXECUTIVE SUMMARY
1.1 Introduction
Poor people save all the time, although mostly in informal ways. They invest in assets and things that can be easily exchanged for cash. They may set aside corn from their harvest and sell at a later date. They bury cash in the garden or stash it under the mattress. Eventually, these poor people loss their hard earn money.
Life in Sogakofe is not different from what is described above. They work hard but could not save. Over the past 20 years that microfinance industry has emerged in response to the lack of access to formal financial services for most of the world’s poor, it has not been able to serve the needs of the ever-increasing number of poor clients. The reason is that they lack capacity due to the traditional business model they practice. To meet this demand, Gisyn microfinance is offering internet based microfinance. After a thorough scan of the business environment we observed that about 80% of the working force and the self employed are educated and already have fair knowledge about internet.
Notwithstanding the above, Gisyn has decided to change the existing traditional business model which is based on personal contact, door-to-door visit and home gatherings to internet based business where clients will get customer satisfaction and delight by accessing our services anywhere without us necessarily always going to their doorsteps.
1.2 PROFILE
Founded by Geogina Kwarteng-Mensah, Irene
Table of Contents
1.0 Executive Summary………………………………………….…………………………………………3
1.1 Introduction……………………………………………………………………………………………………3
Table of Contents 2
3.1.1 Business Loans 8
3.1.2 Susu Loans 8
3.1.3 Salary Loans 8
Salaried workers who operate additional businesses 9
3.2. GISYN Savings Products 9
9.0 Institutional Assessment 19
9.7 Strategy 20
11.0 FINANCIAL AND RISK ANALYSIS 22
1.0 EXECUTIVE SUMMARY
1.1 Introduction
Poor people save all the time, although mostly in informal ways. They invest in assets and things that can be easily exchanged for cash. They may set aside corn from their harvest and sell at a later date. They bury cash in the garden or stash it under the mattress. Eventually, these poor people loss their hard earn money.
Life in Sogakofe is not different from what is described above. They work hard but could not save. Over the past 20 years that microfinance industry has emerged in response to the lack of access to formal financial services for most of the world’s poor, it has not been able to serve the needs of the ever-increasing number of poor clients. The reason is that they lack capacity due to the traditional business model they practice. To meet this demand, Gisyn microfinance is offering internet based microfinance. After a thorough scan of the business environment we observed that about 80% of the working force and the self employed are educated and already have fair knowledge about internet.
Notwithstanding the above, Gisyn has decided to change the existing traditional business model which is based on personal contact, door-to-door visit and home gatherings to internet based business where clients will get customer satisfaction and delight by accessing our services anywhere without us necessarily always going to their doorsteps.
1.2 PROFILE
Founded by Geogina Kwarteng-Mensah, Irene