Hero Spotlight: Grace Boakye Saves Money to Build Her Business and Provide for Her Family in Ghana
June 16, 2017
For Grace Boakye, being poor may likely have contributed to the death of her first baby, who died in childbirth. Not being able to afford a visit to the hospital, Grace’s options were limited when complications arose during delivery, and her baby could not be saved.
Now a 29-year-old mother of three children aged 10, 7 and 1, Grace works hard to contribute to the family income. A petty trader, Grace sells clothing and plastic goods in her community in Ghana. She doesn’t have a store, so Grace must carry her inventory on her head as she sells her wares door to door. This way of selling goods is hard on her feet and back, and it limits her income to what she can physically carry. Her husband is a farmer, and with three young children, Grace’s income is necessary.
Getting her own shop is her primary focus, and she thinks about it all the time. Her dream is to open a small store at her home, where she can increase her inventory, reduce the toll on her body, and relieve some of the pressure on her husband to provide income. Being a member of a savings group will make this possible, because in many developing countries like Ghana, saving on one’s own is a major challenge. In a society that so often lives hand to mouth, cash on hand is simply too vulnerable. For more background, read this story about our first savings group in Ghana.
“Just Hope’s conditions of service and repayment are the best I have ever seen, and I am very happy they brought the group to my place,” she said. “This group helps me borrow easily without having sleepless nights.”
Before Just Hope established savings groups in her village of Dzatsui Newtown, Grace was a member of another savings group. When Just Hope’s groups announced their interest rates and repayment conditions, she changed groups because the terms were more favorable and will help her realize her dream much more quickly.
As an active and loyal member of two savings groups, Grace saves a small amount each week and is close to taking out her first loan, which she will use to begin construction on an addition to her house. This investment will keep her from having to spend her whole day walking with many pounds of inventory on her head and will make it possible for her to increase her income and preserve her health, both of which will benefit her children and husband.