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Under its strategic partnership with the Global Shea Alliance (GSA), Mastercard Foundation and key off-takers through the Shea Business Empowerment Program (SBEP), Advans Ghana Savings & Loans Ltd, a leading financial institution, has exhibited unwavering commitment to fostering financial inclusion for women in the shea value chain across the Northern, Northeast, Savannah, and Upper West regions.
Advans Ghana Savings & Loans Ltd has developed a specific program made of non-financial support and financial support. After the first year of field operations, over 2,108 Women leaders from 90 cooperatives were trained by the Advans Ghana team on financial best practices. These leaders then shared their acquired knowledge with the members of their respective cooperatives estimated to reach over 30,000 women. Additionally, Advans granted loans to 1,937 women to support their endeavors in farming and shea businesses.
In a groundbreaking achievement, Advans Ghana has demonstrated unprecedented efficiency and performance in financial support, boasting a remarkable 100% loan repayment rate. A beneficiary Salah Yakubu from the Mangsungsim Cooperative Shea Production & Marketing Society Limited in the Janga community noted how the loan has been beneficial, “I am happy about this loan arrangement. It comes at better pricing conditions than borrowing within the community and has helped in increasing my business income from the sale of the nuts I have produced.
In a series of post-loan repayment learning sessions with cooperatives, Advans Ghana showcased its dedication to addressing the needs expressed by the women and supporting the Shea value-chain to become more efficient. The institution donated 12 digital weighing scales, empowering them to independently verify the weight of the nuts they have produced. Additionally, 319 cutlasses were provided as a tangible investment in enhancing the productivity of the cooperatives and women farmers in the regions.
During the learning session, Madam Amina Salifu, President of the Tibora Cooperative Shea Production & Marketing Society Limited in Nakpaya community, expressed gratitude to Advans Ghana and its partners for their support, highlighting the positive impact on the life of the Women after this first year of operation. She also noted how the business partnership with Advans has increased the confidence of women shea collectors to take advantage of the financial opportunities that Advans provides for their shea business empowerment.
At the same event, Mrs. Barbara Macon, Program Manager Sustainability at Bunge, a private partner that provided guarantees for the cooperative to access the loan, expressed excitement to be part of this initiative which perfectly fits with the first pillar of Bunge’s Sustainability Ambition: Empower women and future generations. This action directly impacts the production capacity of the women, their incomes and reinforces the relationship between the cooperatives and private sector. She emphasized the need to promote digitalization and collaborative efforts, heralding a modern and sustainable approach to empower women in the shea value chain.
On his part, Edwin Zuta, the representative of the Global Shea Alliance, applauded the progress made in making financial services accessible to cooperatives through SBEP. He urged partners to consider the cooperatives feedback and collectively work towards the program goal to create dignified and fulfilling work for women and create the conditions for more young women to join the industry.
Mr. Jean-Brice Robert, Chief Business Development Officer of Advans Ghana, highlighted the company’s commitment to supporting and empowering more women under the SBEP. He expressed pride in the achievements recorded working with the Women shea cooperatives while recognizing the consistent commitment of the partners in the fields. He outlined a forward-looking plan for 2024 to expand access to finance to 55 shea cooperatives estimated to directly benefit 11,000 women, contributing to the growth and prosperity of women, their families, and their communities.
Advans Ghana’s involvement transcends traditional banking services, exemplifying a corporate responsibility that extends to empowering local communities and having a positive and long-lasting impact on people’s lives. By investing in Shea cooperatives, Advans Ghana underscores its belief that sustainable development begins with targeted support at the grassroots level. Through collaborative efforts, Advans Ghana and its partners are laying the foundation for a more prosperous and empowered agricultural community in the Northern, Northeast, Savannah, Upper East and Upper West regions.
