Sinapi Aba Trust (SAT), a not-for-profit microfinance
organization in Ghana has evolved its business to begin operations in the first tier as a
non-bank financial institution.
According to Board Member, Theodosia
Jackson, the Sinapi Aba Savings and Loans Limited should start operations early
2013 with its head office in Kumasi.
“Early January we’re taking off. All our
banks have been renovated to the Bank of Ghana status and we’re just about to
kick off”, she told Luv Biz Report.
The SAT has been supporting the
economically active poor to enhance their lives through microfinance and basic
business training.
Mrs. Jackson is confident the savings and
loans status will enable the company to mobilize more resources to expand and
reach out to more vulnerable groups with financial services.
Meanwhile,
Sinapi Aba Trust is priding in its Youth Apprenticeship Programme (YAP) as a
sustainable solution to mass youth unemployment in Ghana.
The
scheme provides employable and entrepreneurial skills development to the youth
and also designed to respond to their sexual and reproductive health needs,
especially HIV/AIDS education and prevention.
Beneficiaries
are equipping with training, tools and start-up capital for their income
earning opportunities.
Youth
Development Manager, Thomas Appiah-Mensah, says about Gh₵400,000 has been
earmarked to train and establish 179 youth to be economically productive under the
4th project to be implemented in Kumasi.
“The
objective of the programme is to strengthen the innovation and resilience of
youth, developing their role as decision makers as well as income earners”, he said.
Through
financial support from Opportunity International network, apprentices enroll in
a three year project to acquire vocational skills in various marketable trades,
including dressmaking, hairdressing, carpentry, wielding, plumbing, ICT, auto spraying
and cookery.
Over
1,500 young persons from seven regions have benefitted from the programme since
inception in 2003.
Mr.
Appiah-Mensah says the programme will be expanded to cover all ten regions next
year.
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