EIB RIF II TA Facility: Technical Assistance project for MFI Sinapi Aba Trust (SAT) in Ghana successfully finalized

EIB RIF II TA Facility: Technical Assistance project for MFI Sinapi Aba Trust (SAT) in Ghana successfully finalized

2013/01/31

The MFI Sinapi Aba Trust (SAT), one of the partners of Rural Impulse Fund II (RIF II) in Ghana, has been benefitting of the advisory services of Frankfurt School of Finance and Management. The TA operation was financed from the subsidy endowment under the Cotonou agreement which is currently funding other four TA projects for the benefit of RIF II Portfolio Company in ACP Countries.

SAT is a strong domestic MFI in Ghana with a high rural exposure and a broad geographical outreach. The institution currently serves more than 100,000 micro and small entrepreneurs in the overall country, with around 75% of clients residing in rural areas, and the majority of loans supporting trading activities. It has the highest number of borrowers among its competitors and clearly targets the smallest entrepreneurs with various credit products and community outreach programs, making it a good fit for the RIF II portfolio.

The TA Project started in July 2012 and finalized in January 2013. The main areas of intervention have been product development, corporate governance, and capacity building of the SAT Staff.

During the assignment, major results were achieved. The Frankfurt School has been supporting SAT in the development of new products, specifically in view of the transformation of SAT from an NGO to a Deposit Taking Institution. Two saving products have been developed and pilot-tested. The Frankfurt School also provided support to strengthen the institutional capacity of the Sinapi Staff: 5 different trainings took place for more than 100 people (staff, middle and senior managers). Ten members of the Board of Directors were coached on the new governance process in view of the transformation to a regulated deposit taking institution and two persons have attended the Frankfurt School’s Micro & SME Banking Summer Academy 2012.

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