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Financial Security

Community Finance & Resources Mobilisation (COMFIRM) has two programmes:  Financial Security (FISE) is one, and Ecosystem Services & Rural Economy (ESRE) is the other. Both programmes are complementary, with FISE being an innovation to resource and provide cash security for the range of alternative economic development options available under ESRE. If you live and work in a developed country, you may not realise the difference £5.00 (or $8.00) can make to a family’s life. Even though some sceptics have shown doubts about the impact microcredit, COMWELF has provided microfinance services for two decades to poor rural families and can it has shown to be the ingredient to rural economic productivity and growth. For individuals or families poverty reduction activities, microcredit is given to organised groups, who together have responsibility for receiving the money in bulk. We recognise that women and men may undertake different sustainable enterprises, and difference people have preferences in using their money for business during the dry or rainy season. The scheme is used for dry season horticultural production, such as fresh water melons in the picture.

Community financing:

Community grants are given for projects which bring collective community benefits such as community advocacy and motivation for girl-child education; HIV/AIDS awareness and reduction of stigmatisation; construction of tree seedling gardens and production of seedlings for enrichment plantings of degraded landscapes; and purchase of bicycles for community link workers to monitor local level project activities. The innovation in our system is the flexibility to promote individual drive and entrepreneurship in utilising the money for profitable investment in a range of activities (see objectives under Ecosystems Services & Rural Economy). Group or community grants have been given for off-farm handicraft-making for exports such as the baskets, hats, sandals, etc in the picture.

Incorporating micro-insurance:

COMWELF has introduced innovation in the microfinance scheme by incorporating a micro-insurance component to provide security against risks such as climate change (droughts, flooding) and pest/diseases outbreaks which can happen without warning. We have begun negotiations with some insurance companies to pilot the scheme in Kintampo Area Programme in the next planting season. This will ensure that poor farmers do not lose their investments in the event of disaster or calamity and sustains the microfinance scheme. In this ways, donors’ grants which are invested in local development initiatives are not lost.

Fundraising Strategy:

COMWELF’s Director  (in traditional smock in picture) has developed a number of fundraising strategies for the Financial Security Fund (FISEF), including presentations and appeals for individual giving, or attending fundraising events. However, the amount raised through these sources is inadequate as we need £200,000 investment (over the 5 Year Period) to meet the increasing demand for microcredit. COMWELF is therefore diversifying funding sources by inviting all visitors to our website to make a contribution to the FISEF.

If you give £3.00 per month, it will support a family to grow fresh vegetables for the local market and sell to sustain the children in basic school, while giving them the food and vegetables they require for healthy growth and development. Our individual credit which range from £50-100 ($80-160) have transformed people’s lives and made the difference between life and death. Would you consider supporting a family to establish a viable small business and survive by donating part or the whole sum of £50-100 ($80-160) per year to our “Financial Security Fund” to enable us pass this on to a needy family? Perhaps you can sponsor more than one family per year; that is great! Yes, your contribution means so much to poor families, and you can always visit the project area at your convenience as a tourist to assess the impact of your donation. COMWELF encourages donors and funders to visit the project, at least once a year, to familiarise with progress and listen to stories about the impacts of their money. We deliver what we promise and welcome all partners to come and share the joy of serving deprived communities in Ghana. To donate, please click the donate button, or contact us on donating@comwelf.org to discuss how to adopt and sponsor families.


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