Since 2004 the Credit House has been supporting the agriculture activities through NOWEFOR and NOWEFOCH. At that time, it received funding from the European Union to increase its liquidity. Eight years later it’s still in need of an injection of capital in order to continue the main purpose of its existence.
The main obstacles to funding appear to be on the demand rather than the supply side of the business finance market. This is mainly in the form of lack of satisfactory business plans, accounting, and other information; inadequate assets for use as security; insufficiently high levels of profitability, gearing, liquidity, stability, and other business-financial performance criteria on the part of funding applicants.
Restore the confidence and liquidity of the Credit House, support the BASSUG sectors and members, and modernize software and hardware.
Head of Programme: Mariana Matoso
Project Team Leader: Teresa de Sousa
Sector Coordinator: Titus Jam
Photographer: Fernando Matoso
Volunteers: S. Richard, Titus Tabasang, Nteboh Elisabeth, Tabasang Giddeon, Julius Mbangbang, Dominic Azunui, Attia Giddeon, Theodora Neba, Jeremiah Niveh, Attia Giddeon
Applicant: Credit House
Local Partners: BASSUG
Other partners: Deki, UK
Estimated Cost: £7, 098
Community Funds: No
Other Funds: Reignite Action for Development
Progress: Waiting for funding
Timeline: 1 year