Baduman Rural Bank in the Brong Ahafo Region has disbursed GH¢1,190,480.00 as loan to over 5,000 women in just a little over two years within its five operational territories -- Badu, Sunyani, Techiman, Wenchi and Odomase.

In the introductory period of “Credit with Education (CWE)” -- October 2010 to December 2011 -- the Bank invested GH¢768,880.00 with 100% recovery rate whilst GH¢421,600.00 was disbursed between January 2012 to December 2012, when the recovery reduced slightly to between 96-98%.

Credit with Education has within the short period bettered the lot of so many women -- some of which some were living on just GH¢1.00 daily, a situation that subjected them and their dependants to malnutrition.

It is basically available for women groups, and currently over 400 solidity groups with members of between four and six are hooked onto the loan product.

The Bank trains the beneficiaries in credit and financial management, as well as nutrition, for a period of six weeks before disbursement is made to the women traders. The interest rate on Credit with Education is 10% weekly, with a repayment term of 16 weeks.

The Management of Baduman Rural Bank says they are in consultation with ARB APEX Bank for GH¢300,000.00 to augment their funds for 2013, in order to help alleviate the enormity of rural-women economic hardship.

This is the vibrant product among the Bank’s loan products- Salary, commercial, farmers, funeral and micro-finance, the General Manager of the Bank, Mr. Daniels Duah told B&FT in an interview.

Lack of adequate funds for disbursement and the difficulty of monitoring debtors from appraisal to repayment are the major challenges the General Manager mentioned as affecting progress of the credit facility.