SNV Ghana partners Nandom Rural Banks to provide credit support to WASH businesses

As part of efforts to improve the lifestyles of people within the Nandom and Lambussie Districts through improved Water Sanitation and Hygiene (WASH) practices, SNV Netherlands Development Organization’s Healthy Future for All (HF4A) project has partnered with the Nandom Rural Bank to implement a USD100,000 WASH Credit Fund scheme to make financing accessible to micro and small scale businesses and individuals interested in improving WASH access delivery within the Nandom and Lambussie Districts.

The project intends to help WASH service businesses formalize their operations and strengthen the knowledge and capacity of WASH entrepreneurs.

In a recent interview by SNV Ghana, Savannah Alliance Ghana and Nandom Rural Bank on Nandom 101.9 FM, the Acting Micro-finance manager of the Nandom Rural Bank spelt out the details of the WASH Credit facility and the persons who are qualified to access the facility.

According to the micro-finance manager of the bank, the facility is open to individuals, households, small, medium and large-scale enterprises that are into WASH activities. The WASH businesses include soap making, plumbing, the sale of PVC pipes, pump operators, mobile toilet operators, rubbish collectors and many others. Most importantly, these people must reside in the Nandom and Lamsussie District.

To be able to access the WASH Credit facility, interested businesses have to be registered and with a constitution. Individuals or households who need the loan will also need to first open an account or have an account with the bank. Individuals will also be required to provide guarantors or sureties.

Small scale businesses can access up to Ghc100,000.00, Medium and large-scale businesses can access up to about Ghc200,000.00 while households and individuals can access an amount of Ghc50,000.00.

The interest on this loan facility is relatively cheaper. Individuals and households will pay a 10 percent interest while businesses pay a 15 percent interest over a period of 15 months.

Savannah Alliance Ghana (SAG) a partner in the implementation of the HF4A is a capacity development organization that provides tailored-made capacity building for development-related agencies. It operates mostly in the Northern part of Ghana with a special interest in the WASH sector, food security, Agric and Livelihood improvement, Education and Environmental Conservation.

Under the Health Future for All Project, SAG will be providing business development training to enterprises to be able to access the funds and set up sustainable businesses.