Ghana is known for its cultural richness and for being the gate to West Africa.
But Ghana has significant challenges when it comes to the ease of doing business. While a few short years ago, Ghana was ranked in the 70s out of 189 countries, it has since dropped to 108 out of 190 because of the devaluation of the Ghanaian currency and the significant challenges with electricity.
But a challenge that has been going on for some time is the very high-interest rates for loans, which are critical for the growth of businesses. The bank interest rates start at around 37%, followed by the micro-finance companies in the 60%, and the informal sector reaching as high as 80-100%. No one can take loans and grow a business with those rates.
ICM-USA has joined hands with Hopeline Institute to roll out the ministry of Discipling Marketplace Leaders.
Your support will go toward the facilitation of trainings for pastors and church leaders, and the coordination of the business and church networking. Additionally, an investment into the DML loan program will help Ghanaians have access to affordable credit while paying you 5% per annum on funds invested. For every dollar invested in a developing country’s economy, it is expected to produce $12. We are looking to have $100,000 USD invested into Ghana, which would translate into. $1,200,000 USD in the economy. That is potentially amazing growth.
To make a donation, please go to the ICM Donate page and select “Discipling Marketplace Leaders” in the dropdown box, and indicate “Ghana” in the comment section. To make an investment, please Contact DML International Coordinator, Renita Reed-Thomson for more information.