The Sun Shade Foundation-FNGO (the ‘Organization”/”the Foundation) is a microfinance non-profit organization that was established in September, 2011 with the purpose of providing social and financial solutions to the economically active but productive poor especially women so that they can in return help their families. It is a Bank of Ghana fully licenced and Department of Social Welfare recognized Organization and an active member of the Ghana Association of financial Non-governmental organisations (GHASSFIN).
The Organization’s mission is to empower the Economically Marginalized Productive Poor (particularly women) in the rural, urban and peri-urban communities in Ghana through the provision of appropriate, timely, responsible and sustainable Microfinance.
Through innovative assistance for entrepreneurship-including direct micro-credit loans and tangible support for other community partnership projects-the Organization seeks to expand the energy and creativity of every person with whom it works with, in order to create wealth and prosperity in Ghana. Micro-credit is a system pioneered by Professor Muhammad Yunus, founder of the Grameen Bank in Bangladesh and recipient of the 2006 Nobel Peace Prize. The philosophy behind micro-credit is to provide the poor access to credit without requiring contracts or collateral, enabling them to rise out of poverty through their own efforts.
The Sun Shade Foundation- FNGO (SSF) believes micro-finance with tailor-made training support is one of the best methods to help individuals lift themselves out of poverty through their own ingenuity. SSF does not only help the poor with micro-finance services, sustainable livelihood products and clothing support but also empower these women to sustain their climb out of the claws of poverty through well-tailored training sessions. The objective is to encourage economic growth and sustainability by sharing our knowledge and access to resources with these women. The Organization is partnered with Sisters4siters INC. in providing outreach on projects such as campaign against Domestic Violence. SSF plans to continue to expand their project portfolio with socially oriented and microfinance partners over time.
As of December 31, 2018, the Organization had committed approximately GH¢5,223,308.00 in micro-lending projects in over 25 rural, urban and peri-urban satellite communities in the Ashanti Region. As at the period, the Organization had also committed GH¢12,600 to its sustainable livelihood projects – precisely on solar lamps, and a total of 35 second-hand clothing 15kg bales, pairs of shoes, bags, toilet rolls; worth over GH¢53,500.00 to under privileged institutions and individuals.
As of December 31, 2018, the Organization has supported 4,544 micro-entrepreneurs and their families. It is estimated that each person with whom the Organization assisted also supports at least a family of three inclusive, which means the support is indirectly contributing to the prosperity of at least 13,632 individuals. Micro-entrepreneurs supported by the Organization, are utilizing the loans for home-based businesses such as cabbage/lettuce farming, shoe making, tailoring, and selling handicrafts, homemade foods, bakery-made foods, clothing and footwear. The Organization hopes to continue expansion of its projects in the years ahead.
The Foundation’s headquarters is located in Kumasi, the second largest capital city in Ghana, a city full of spirited entrepreneurs. It has scheduled it to reach over 5,000 families in Ashanti Region by the end of 2019 and over 10,000 families by the end of 2023, in collaboration with other stakeholders. Achieving this goal SSF will expand its operations in 2024 to several hinterlands in the Ashanti Region. The Organization currently has thirteen (13) paid full-time employees and ten (10) non-paid foreign and local volunteers who are highly trained and focused to execute the vision and mission of the organization.