SBFIC grants loans totalling GH₵135,984 to combat irregular migration

The Savings Banks Foundation for International Cooperation (SBFIC), a non-governmental organization concerned with providing people in developing countries with access to financial services has presented 12 Ghanaians with loans totalling GHS 135,984 as part of an effort to combat irregular migration.

The beneficiaries of the loan facility are Mr Abdallah Osman (GHS14,600), Mr Abdulai Zakaria (GHS11,190), Madam Faida Boye (GHS12, 384), Mr Michael Danso Nuak (GHS24,000), Madam Barbara Asman (GHS13,750), Mr Ijahra Larry (GHS13,170), Mr David Lawson (GHS3,500), Mr Emmanuel Senanu (GHS15,200), Madam Grace Kagbo (GHS,740), Madam Magdalene Ontoba (GHS9,000), Madam Yvonne Mensah (GHS7,600) and Hagar Nketia (GHS7,850).

According to Mrs Maike Ewuntomah, the Project Coordinator of the SBFIC the loans are part of a pilot project called "Perspektiv Heimat" which aims to remind prospective migrants and returnees of financial opportunities that exist in their home countries and aid them to set-up businesses.

She said the beneficiaries were selected through a collaborative effort with the Ghanaian-German Centre for Job Creation and Migration and local NGOs involved in migration and they were later taken through a year-long training and coaching programme.

"It is after the training and coaching that the people (beneficiaries) present a proposal and a budget for what they want to do to a small committee that decides on the feasibility of what they want to do and the funds required," Mrs Ewuntomah told the Daily Graphic last Friday (September 20) in an interview on the sidelines of the presentation.

"We also provide membership to Credit Unions for all the trainees, which grants them access to loans after six months. The interest rates with the credit unions is generally below 20%, it's is around 16-19 and they payback within a time of 24 months".

Mr Kwang-Yung Jung, the Regional Coordinator of the SBFIC in West Africa assured the beneficiaries of the support of his outfit adding that they have a huge responsibilty to ensure that Perspektiv Heimat is a success.

Beneficiaries

Expressing gratitude to the SBFIC on behalf of the beneficiaries, Mr Abdulai Zakaria, a former migrant to Spain said he was going to set-up a barbering shop in Tamale and was confident of repaying back the loan before the deadline.

He said, "It was very tough going to Spain and it was not easy there either. However, I heard about this project on the radio when I returned to Ghana and I decided to try it. I am happy to get this money because it has always been a dream to own a barbershop and I know I would be a success".