Global Communities is helping to expand economic opportunities in Ghana through Boafo Microfinance Services Ltd. Established in 2007, Boafo is a microfinance service company created through a partnership between HFC Bank Limited (Ghana) and Global Communities with funding support from USAID and the United Nations. This partnership combines Ghana's largest mortgage lender with Global Communities' expertise in providing loans to low- and moderate-income individuals to help them expand businesses, purchase homes and pursue educational opportunities.
Boafo has provided more than a thousand loans valued at nearly $1.5 million to small businesses and home owners in Accra, Tema, and Kumasi and is in the process of expanding its geographic reach to meet the needs of more communities in Ghana.
IncluCity builds on the Bill & Melinda Gates Foundation-funded SCALE-UP program which enabled the urban poor in India and Ghana to have a meaningful voice in slum improvement programs. In Ghana, Global Communities worked with local organizations to expand access to credit, provide vocational training, upgrade water and sanitation systems and improve housing conditions for residents of slums in Accra and Sekondi-Takoradi. Through IncluCity, Global Communities aims to increase the participation of slum residents in governance, inclusive planning and budgeting processes, while building the capacity of the local governments to generate revenue.
About 5.5 million people in Ghana – more than half the urban population – live in slum settlements. Due to the informal nature of these settlements, water supply and sanitation services in these areas are inadequate. Using a community-driven approach that involves residents and a broad range of stakeholders, Global Communities is helping to improve availability and access to water and sanitation services. With funding from USAID, Global Communities is working in three slum communities of Accra and two slum communities in the urban area of Sekondi-Takoradi.
In conjunction with ongoing efforts to improve the sanitation situation in Ghanaian communities, Global Communities launched the Youth Engagement in Service Delivery (YES) program. Funded by the Bill & Melinda Gates Foundation, the YES program builds the capacity of local youth organizations and trains youth for employment in the solid waste sector. The program also focuses on building the capacity and life skills of youth with training in savings and financial literacy, basic business and employability skills.
To learn more, please visit the Global Communities Ghana website.