Pan-African Savings and Loans Reboots Mama Club Group Loans: Empowering African Communities

By Deborah Asantewaah SARFO

Pan-African Savings and Loans, part of Ecobank Ghana, has brought back its 'Mama Club Group Loans' product—specifically tailored for women’s distinct financial requirements. This initiative provides these individuals with a reliable lending option aimed at improving both personal circumstances and community environments.

The return of Mama Club Group Loans has been facilitated via a strategic partnership with GIZ.

This effort has offered technical support, enhanced staff capabilities, and secured financing for the product's communication plan, guaranteeing a smooth launch. The project is supported by the German Federal Ministry for Economic Cooperation and Development (BMZ).

At the unveiling event, Pan-African Savings and Loans' Managing Director, Emelia Desiree Atta-Fynn, voiced her assurance about the new offering's capability to tackle the difficulties women encounter when trying to access financial services. She further noted that this initiative underscores the institution's dedication to promoting financial inclusivity.

"Given the difficulties encountered by women at the base of the economic pyramid when trying to access financial services—including issues with securing sufficient collateral, maintaining an excellent credit record, and lacking financial and digital literacy—we believe that our improved approach to group lending could mitigate many of these problems, if not resolve them entirely," she stated.

She pointed out that the Mama product offers financial assistance at a competitive interest rate along with flexible payment options and gives a rebate of up to seven percent on interest for timely repayments.

Sarah Annam, who serves as the Gender Programme Lead for Pan-African Savings and Loans, pointed out that this program provides adaptable terms allowing women to obtain financing of up to approximately GH₵5,000 without needing collateral or a guarantor.

She mentioned that the criteria and steps needed to obtain these loans have been simplified considerably. She also noted that any team of at least five but not more than fifteen women engaged in income-generating activities under the MSME category can qualify for this opportunity.

On behalf of Dr. Christian Jahn, who leads the PFS program at GIZ-Ghana, Cynthia Odonkor, the Component Manager for PFS, highlighted the initiative as evidence of their faith in women’s ability to catalyze economic change. She emphasized that "when women are empowered, they generate empowering opportunities, which lead to sustainable growth and prosperity."

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