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Ghana is a beautiful West African country along the Gulf of Guinea bordered by Burkina Faso (North), Côte d’Ivoire (East), and Togo (West). With a growing population of about 30 million as at 2018, this beautiful nation is multicultural. In as much as there is a multiplicity of different ethnic groups, the culture is overall unified and as such, Ghana has enjoyed political stability in the region even after the post-Colonial era. Generally, Ghanaian culture lays more emphasis on being hospitable to everyone in the society, practicing good manners in every setting as well as respect for everyone.
According to the CGAP 2016, Ghana's financial landscape has evolved from approximately 44% (2010) excluded from financial access to approximately 25% (2015). Though access to financial services has increased in the country, there is still a fraction of the population who are still financially excluded due to but not limited to lack of access to formal financial services.
In West Africa, Sparkassenstiftung works to strengthen the local Credit Unions in Ghana, Liberia, The Gambia and Sierra Leone. Equipping and strengthening the institutions in this sector is a key priority to German Sparkassenstiftung. This is because the financial industry in the selected countries faces challenges which makes access to finance difficult especially those at the bottom of the pyramid. The project, thus, aims to develop the capacity of credit unions in all four countries, with a view to enabling them to provide their members with target group-oriented and customised services. In this way, as yet unbanked and disadvantaged population groups can gain access to financial services and are able to participate in economic life.
Since its first cooperation and project activities in 2010, German Sparkassenstiftung has initiated the following three main projects in Ghana. The first project is The West-African Regional Project with the Ghana Co-operative Credit Union Association (CUA). This project aims to strengthen the Credit Unions and other microfinance institutions and associations in Ghana by developing their capacity. The 2nd project is the Training Program (Management Certification and Board of Directors training). In partnership with the Ghana Microfinance Institutions Network (GHAMFIN), a certification training programme for board members and managers of Credit Unions and Microfinance Institutions has been developed. The aim is to build capacity through demand-driven, affordable and attractive training courses. The 3rd project is the Supporting potential Refugees and Returnees program with Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ). The aim is to support returnees for a successful economic start once they return to Ghana. All three projects border around our core topics of Financial Literacy, Capacity Development, MSME Finance and Institution Building.