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Meet Rahinatu, a Microfinance Success Story

Rahinatu, a microfinace success story
In honor of the upcoming International Woman’s Day on March 8, 2009, the Grameen Foundation will be sharing a weekly story of women who are involved with microfinance.

The fist successful story in this series is about Rahinatu, who is featured in the above photo.

From Grameen Web site

Rahinatu lives in Ghana and is a teenager finishing her last year at Savelugu Senior Secondary School. She’s also a successful businesswoman, all thanks to a $110 loan from local Ghanaian microfinance institution, Sinapi Aba Trust.

Rahinatu, like most Ghaniains, enjoy eating kenkey, the local staple food made from ground corn. She and her friends would buy it as lunch or as a snack from the women who sold it on the school grounds. When the women stopped selling at the school, Rahinatu saw a chance to start a small business.

She started by selling kenkey to the pupils and teachers in her school. She was selling about 150 pieces each day. But with a start up loan from Sinapi Aba Trust, she was able to make more kenkey and a subsequent loan helped her set up a small stand in town where she sells to the community as a whole. Today she sells about 500 pieces of kenkey a day and she’s able to pay not just her public school fees, but those of her younger siblings.

Grameen is encouraging people to honor the women who have inspired them by visiting StopPovertyNow.org where you can upload photos and stories of the woman who have inspired you. Your action will help create more success stories like Rahintau’s. After all, with some much uncertainty in the economic sphere right now, isn’t it great to know that successful programs can continue to break the cycle of poverty.

Show the Wall Street CEOs that there are other ways to economic prosperity.

About the Grameen Foundation, from their Web site;

Grameen Foundation uses microfinance and innovative technology to fight global poverty and bring opportunities to the world’s poorest people. With tiny loans and financial services, we help the poor, mostly women, start businesses and escape poverty. Our global network of 55 microfinance institution (MFI) partners including our Growth Guarantee partners has touched more than 34 million people in 24 countries. In addition, we introduced and now sustain technology initiatives (Mifos and Village Phone) in Cameroon, Kenya, Rwanda, and Uganda, bringing our total country outreach to 28.

Grameen Foundation is a 501(c)3 non-profit.

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