{"id":72843,"date":"2023-06-15T11:15:36","date_gmt":"2023-06-15T11:15:36","guid":{"rendered":"https:\/\/startup.info\/?p=72843"},"modified":"2023-08-14T21:42:56","modified_gmt":"2023-08-14T21:42:56","slug":"sikadan-loans-solutions","status":"publish","type":"post","link":"https:\/\/www.bonjouridee.com\/en\/sikadan-loans-solutions\/","title":{"rendered":"SIKADAN LOANS &amp; SOLUTIONS: changing the narrative of financial services in Ghana"},"content":{"rendered":"<p style=\"padding-left: 60px;\"><span style=\"color: #000000;\"><em><strong>Financial illiteracy among traders and other businesses in the informal sector has been identified as a major contributing factor to the high level of poverty in the country.<\/strong><\/em><\/span><\/p>\n<p><span style=\"color: #000000;\">Studies have indicated that the informal economy in Ghana, which is dominated by wholesale and retail trade and services, had a huge potential for job and income generation.<\/span><\/p>\n<p><span style=\"color: #000000;\">The SIKADAN Solutions is a financial &amp; business literacy clinic for prospective market vendors and SMEs who want to access SIKADAN loans for their businesses.<\/span><\/p>\n<p><span style=\"color: #000000;\">SIKADAN believes that offering market vendors and businesses the right financial coaching and practical business guidance is a better way of empowering their businesses and strategically repositioning them for financial support with much priority on making a positive difference in the socio-economic lives of women vendors.<\/span><\/p>\n<p><span style=\"color: #000000;\">Loans may always go bad if the lender doesn\u2019t understand and know the nature, challenges and strength of the businesses their money is going into.<\/span><\/p>\n<p><span style=\"color: #000000;\">Loans are aimed to create shared value for both the lender and borrower and mitigating strategies must be designed to achieve such.<\/span><\/p>\n<p><span style=\"color: #000000;\">The SIKADAN Solutions is the first requirement that needs to be fulfilled by any prospective clients who want to access SIKADAN\u2019s Business and Group Loan.<\/span><\/p>\n<p><span style=\"color: #000000;\">Solutions &amp; Credit Officer (SCO) is assigned to each client to understand the nature of their business and design a tailored business solutions to meet their needs.<\/span><\/p>\n<p><span style=\"color: #000000;\">The technical profile report by our SCO will determine whether the client indeed need a loan or not. Most often, a loan may not be the solutions to their demands.<\/span><\/p>\n<p><span style=\"color: #000000;\">This initiative is also aimed to bridge the gap between the formal and informal sector in financial literacy. Participants shall be schooled once every month on savings, cutting down cost, issuing of receipts and proper accounting practices among many basic business practices.<\/span><\/p>\n<p><span style=\"color: #000000;\">Market vendors especially women who want to access our Loan must first enrol in our Market Vendor Business Education (MBE) certification.<\/span><\/p>\n<p><span style=\"color: #000000;\">The MBE shall be our main requirement for our Group Loan Products.<\/span><\/p>\n<p><span style=\"color: #000000;\">We believe this will go a long way to help the clients in the following added advantage;<\/span><\/p>\n<ul>\n<li><span style=\"color: #000000;\">Enhance their financial literacy<\/span><\/li>\n<li><span style=\"color: #000000;\">Improve their business skills and practices<\/span><\/li>\n<li><span style=\"color: #000000;\">Add value to their goods &amp; services<\/span><\/li>\n<li><span style=\"color: #000000;\">Increase their market share and sales<\/span><\/li>\n<li><span style=\"color: #000000;\">Attain stabilized growth and become profitable<\/span><\/li>\n<li><span style=\"color: #000000;\">To become competitive both in the traditional and modern markets.<\/span><\/li>\n<\/ul>\n<p><span style=\"color: #000000;\">Are you a market vendor? Are you an SME? Do you want to start a new business? If yes is your answer then all you need is SIKADAN Solutions &amp; Loans.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Financial illiteracy among traders and other businesses in the informal sector has been identified as a major contributing factor to the high level of poverty in the country. Studies have indicated that the informal economy in Ghana, which is dominated by wholesale and retail trade and services, had a huge potential for job and income&#8230;<\/p>\n","protected":false},"author":4,"featured_media":72841,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1737],"tags":[1832],"class_list":["post-72843","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-finance-en-2"],"_links":{"self":[{"href":"https:\/\/www.bonjouridee.com\/en\/wp-json\/wp\/v2\/posts\/72843","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bonjouridee.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bonjouridee.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bonjouridee.com\/en\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bonjouridee.com\/en\/wp-json\/wp\/v2\/comments?post=72843"}],"version-history":[{"count":1,"href":"https:\/\/www.bonjouridee.com\/en\/wp-json\/wp\/v2\/posts\/72843\/revisions"}],"predecessor-version":[{"id":213106,"href":"https:\/\/www.bonjouridee.com\/en\/wp-json\/wp\/v2\/posts\/72843\/revisions\/213106"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bonjouridee.com\/en\/wp-json\/wp\/v2\/media\/72841"}],"wp:attachment":[{"href":"https:\/\/www.bonjouridee.com\/en\/wp-json\/wp\/v2\/media?parent=72843"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bonjouridee.com\/en\/wp-json\/wp\/v2\/categories?post=72843"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bonjouridee.com\/en\/wp-json\/wp\/v2\/tags?post=72843"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}