My name is Grace Gabala I am Wagner graduate student studying international finance and interested in economic development. Shortly, after interning with the Financial Access Initiative, I enrolled in Professor Hanna policy and program evaluation course taught in Accra this summer. As part of the course practicum I have been assigned to a mini internship with The Open Heart Solution Agency / Microfinance and Community Development Organization (MFCDO).
The Microfinance and Community Development Organization (MFCDO) was established in 2003 with the goal to use microfinance as a tool for poverty reduction and community development in Accra. From a modest team of three MFCDO increased in breath and scope over the past five years to a team of 20 staff members serving 7000 clients at the Kaneshie market of Accra. MFCDO clients are mostly women entrepreneurs who sell at the Kaneshie market as well as women in few other rural communities.
Through a series of interviews, visits to the clients I was able to observe and hear from some of the beneficiaries how micro-saving (commonly called Susu banking throughout West Africa ) and micro loans help them in their business and life in general.
Posted by FAI Student Network on behalf of Grace Gabala