Sinapi Aba Savings and Loans – Ghana
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Sinapi Aba Trust (SAT) began its activities in 1994 as a Non-governmental Organization (NGO) offering microfinance services to its clients. Since the beginning of its operations, SAT received a strong financial and technical support from the Opportunity International network. After that, in 2013 the organisation evolved in Sinapi Aba Savings and Loans like a new Non-Banking Financial Institution. Their services are focused in transformation, capacity building training, research and development, marketing activities, corporate relations and projects management. The Trust therefore provides support services to the Savings and Loans company. Both institutions thus work together in transforming the lives of the economically active in Ghana.
Sinapi Aba supports a total of 141,696 clients through 44 agencies concentrated in the South of the country where the demand is stronger. The borrowers who live in rural areas make up 90% of the total portfolio and almost 80% of them are women. More than 97% of the portfolio finances income-generating activities of which 39% in the agricultural sector. The average disbursed loan is EUR 120.
The MFI is based in Kumasi and their agencies are concentrated in the South West area, but they are also represented in the North, allowing a national coverage service.
The MFI offers group credits and individual credits. Group credits are the historical product of the MFI. Groups have between 3 and 15 people and the refunds are on a weekly basis. Some of their products are: the Micro School product targets private schools; the Wash credit allows investments in drinking water equipment and the Susu credit, targets customers savings on a daily basis.
