Information on Sinapi Aba Trust (SAT)
Sinapi Aba Trust (SAT) has been founded in 1994 as a charitable christian organisation. Since 1998 SAT has been a member of Opportunity International Network, a coalition of christian non-governmental organisations, globally active and providing microfinance and training to the working poor. SAT´s mission, in accordance with the goals and corporate policy, is to provide opportunities for people in poverty and for the socially disadvantaged but economically active people. SAT provides access to sustainable financial services (micro loans, savings and insurance) and training so they can transform their lives. This way they can unlock their own potential and work their way out of poverty by themselves. In the last eleven years SAT has developed into the leading microfinance organisation in Ghana. With their expertise and wealth of experience they offer their clients not only micro loans but also extensive advice, numerous trainings and monitoring of the project.
The way SAT works
"Trustbank": the Trustbank-method is gaining importance fast and provides group-loans which benefits the poorest of entrepreneurs. The micro loans are meant most of all for owners of small businesses, mostly poor women who live under the poverty line with an income of less than 1 USD a day.
The clients build groups of 25 members max. They establish a trustbank in which all members act as guarantors for each other directly and solidary. As the group selects its members by themselves, the businesses and businessplans- and ideas of the clients are being assessed accurately. This is not only beneficial to the group but also to the individual client as on principle non-profitable projects are not being supported.
The initial loans add up to 60 to 170 Euro. The loan should be repayed in weekly installments on a four to six months term. During the eight-week orientation period before lending and also during the term of loan there are weekly meetings in which the members are trained in marketing, business management and financial management. Furthermore training on topics like improving leader qualities and group solidarity as well as on how to handle a loan efficiently, are being given. On top of that also social issues are being discussed within the trustbank group such as domestic violence, alcohol problems in the family, child raising and health issues. The different trainings are especially fitted to the clients´ demands, the region they live in, their living conditions and the sort of business they have. SAT does not just provide the clients with micro loans and then leave them on their own, but they are being trained additionally on all topics of business and conducting life and are being supported in all the problems that occur on a working day. This holistic approach is leading to a lasting change in the life of a client and his or her family.
"Solidarity-groups"; microfinance for advanced clients: the so-called "solidarity groups" are especially founded for clients who have already finished at least four loan-cycles successfully. It is a smaller group of about 5 clients who prefer flexible repayment modalities.
"Individual loans": the individual loan-method is meant for somewhat bigger businesses which demand for capital is correspondingly higher. The initial loans add up to about 100 to 250 Euro on a six month term.
Integrated in this system of "trustbank" and "individual loans" is a savings accounts-concept consisting of a voluntary and obligatory part. The savings accounts already have been a huge success. Also in future SAT will show the poorest of entrepreneurs how to work their own way out of poverty, through microfinance and the above mentioned financial and training services.
Next to the business trainings SAT also provides awareness training and advises on HIV and AIDS.
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