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Ashanti News 8...
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Patron: The Rt Hon Frank Dobson MP
Registered charity no 1112415
21 Downing Court, Grenville Street, London WC1N 1LX
T: 44 (0)207 837 3172 M: 07713 743398
E: penny.
david@ashanti-development.
org
W: www.
ashanti-development.
org
Ashanti News 8
May 2009
In January and February Isebail Mackinnon and Jennifer Kavanagh spent a month and seven weeks respectively in
the village of Gyetiase, in the Ashanti region of Ghana, setting up a microcredit programme.
When we arrived in Ashanti, we were told that microcredit had been
tried, and it hadn’t worked.
In South Africa, even the regulating body
said that they were astonished at our programme – they had never
heard of anything like it.
Which shows how little people understand
the term, and how much it has been distorted: from loans given on an
ad hoc basis with little expectation of repayment, to highly structured
loans of thousands of pounds for small businesses.
Concentrating on
complete sustainability has pushed
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