There is a huge demand for financial services in Ghana, but the microfinance industry in the country is still young, reaching only a fraction of the estimated three million Ghanaians who would benefit. Unregulated financial non-governmental organizations (FNGOs) currently reach out to the poor, and regulated savings and loan companies (S&Ls), located in urban areas, focus on higher-end clients. However, rural areas, especially in north Ghana, still seriously lack financial access.
- Life expectancy in Ghana is 60 years old
- Literacy rate is 65 percent
- Almost one-fifth of children in Ghana under 5 are underweight
- Almost one-third of the population lives on less than $1.25 a day
Grameen Foundation began working in Ghana in 2008. We currently work with Sinapi Aba Trust and provide financing to Grameen Ghana and Maata-N-Tudu Association. These MFIs are serving nearly 100,000 clients.
Additionally, in collaboration with the Ghana Health Service, we have launched the Mobile Technology for Community Health (MOTECH) initiative, which is made possible by the generous support of the Bill & Melinda Gates Foundation and the Saving Lives at Birth Partners: United States Agency for International Development (USAID), the Government of Norway, the Bill & Melinda Gates Foundation, Grand Challenges Canada, and the World Bank.