07
Dec

GHAMFIN MFI GRANT

Ghana Microfinance Institutions Network (GHAMFIN) together with our development partner (German Sparkassenstiftung Ghana) DSIK have instituted MFI Grant Scheme (GS) to provide liquidity support for MFIs to compensate for a percentage of principal loan amount written off and lost interest income arising from the effect of COVID-19 pandemic.
The potential targeted beneficiary institutions are as follows:

  • Tier 2 MFIs – Deposit-taking microfinance companies (MFCs)
  • Tier 3 MFIs – Non-deposit taking Micro Credit Companies and Financial NGOs,
  • Tier 4 MFIs – Non-deposit taking individual microcredit service providers (enterprises).

Tier 1 NBFIs, Credit Unions (CUs), and Tier 4 Susu Collectors shall not be eligible under the current grant scheme.
Information about scheme details, eligibility as well as the description of the application process can be found under the FAQ.

APPLICATIONS CAN BE SUBMITTED FROM MONDAY 6TH DECEMBER TO FRIDAY 17TH DECEMBER 2021 AT 5PM.

Act quickly - the grant resources are limited.
Apply now

FAQs

Successful candidates meet the following eligibility criteria:

1. Who is eligible for this facility?

Your MFI is a Tier 2, Tier 3, or Tier 4 Non-deposit taking individual microcredit service providers (enterprises), and it is duly licensed by the Bank of Ghana and registered with the respective body/apex association.

  • The applicant’s MFI complies with the regulatory reporting framework by providing a copy of the September 2021Prudential Report submitted.
  • The applicant’s MFI has taken measures to effectively manage the business challenges caused by the COVID-19 pandemic (assessment of resilience capacity).
  • The applicant’s institution provides evidence that it is an active member in good standing of the respective MFI association such as attendance to meetings and submission of data.
  • The applicant’s institution provides evidence of full payment of their annual membership fees to the respective apex body using the current valid Membership Certificate.
  • The MFIs may prove their participation in the on-going Board of Directors and Management Certification Programme being run by GHAMFIN.

2. What are the terms and conditions?

Amount per institution is as follows:

Tier Type of MFI Unit Amount
Tier 2 MFCs Up to 70,000.00 GHS
Tier 3 FNGOs Up to 40,000.00 GHS
Tier 3 MCCs Up to 70,000.00 GHS
Tier 4 MCEs Up to 36,000.00 GHS

3. How should you apply?

Download Application form from GHAMFIN website (www.ghamfin.org) or Association’s Website or from your respective Association’s Platforms.

  • Complete and attach all the necessary documents in one (1) pdf except for the Excel file in the requested order (see below).
  • Send the completed application to Executive Director of GHAMFIN via e-mail:ghamfingrant@gmail.com

4. HOW WOULD YOU RECEIVE THE GRANT IF YOU ARE SUCCESSFUL?

  • Successful applicants would be required to provide Bank Details upon notification for direct transfer to their account.

5. ORDER OF PRESENTATION OF DOCUMENTS

Kindly organize and submit your documents in the following order in addition to the completed Excel Sheet:

  • Completed Application Form
  • 2020 audited financial statement for Tier 2 and Tier 3. For Tier 4 applicants, in the absence of an audited financial statements for 2020, a management account will suffice (even though audited financial statement is preferred).
  • Copy of Prudential Report for September 2021
  • Current Association Membership Certificate.
  • Pager of the resilience measures on a letterhead.

6. WHAT ELSE DO YOU NEED TO KNOW?

Unfortunately, incomplete, or inaccurate applications (missing information or documents) would not be considered.

7. ANY OTHER QUESTIONS?

For further questions, please contact: GHAMFIN via ghamfingrant@gmail.com

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