First Step Project

The Sabab Lou Foundation is now funding the project for more than 9 years by provifding a loan fund, which in the meantime has grown to around 43,000 euros, to its partner organization FIRST STEP FOUNDATION. In addition, the partner organization contributes its own share of 9,000 euros to the loan fund. The foundation, that is based in Offinso, Ghana, has been able to finance itself now since 4 years with interest earned, and is no longer dependent on grants. It implements two loan programs, microloans to extremly poor, mostly single women, and small start-up loans for entrepreneurs. The Foundation works around the city of Offinso in the Ashanti region and in the Chereponi district in northeastern Ghana. A total of 408 loans were granted in 2018, 358 in Offinso, 50 in the Chereponi district.

Close supervision and monitoring are the main factors for success of the eight-year project. A failure rate between 2 to 3 percent in terms of value, which in many cases is caused by deaths, speaks for itself.