My name is Lucy Asampana. I am 40 years old and from the Kantia community in the Bolgatanga East District of the Upper East Region. I have two sons and earn a living by selling porridge and weaving baskets.

For some time, my basket-weaving business faced numerous challenges, to the point where I had to stop weaving for over a year. Initially, I would take straws on credit, complete the baskets, sell them, and repay the supplier before taking new materials. However, as prices increased, suppliers began demanding repayment based on the current market price, not the price at which I took the straws. This made it very difficult to keep up, and eventually, I had to abandon the basket-weaving business and focus solely on selling porridge.

Even though I was part of a group savings scheme, I found it difficult to save consistently. I often used up the money before the next savings meeting, which left me with little progress.

I was fortunate to participate in a three-day training organized by the Widows and Orphans Movement (WOM), with support from the KGL Foundation. During the training, I learned about the importance of saving with a formal financial institution. Before this, I had strong reservations about saving in banks due to stories I had heard about banks collapsing and losing people’s money. I often thought to myself, “If I have only a small amount, why should I deposit it in a bank that might disappear with it?” I also believed my money was too little to be considered worth saving in a bank.

However, the training completely changed my mindset. I even went on to lead a step-down training session for our group, sharing what I had learned. I took the bold step of travelling to Bolgatanga town to open a bank account at the Agricultural Development Bank (ADB). In just two months, I have been able to save GHS 500.00, an amount I wouldn’t have managed to keep if I were still using the group savings method, as I would have likely spent it before the next meeting.

My goal is to save up to GHS 1,500.00 by the end of the year so I can invest in livestock, specifically sheep and goats, to start a small rearing business.

In addition, I have successfully convinced two other women who have opened their own accounts at ADB. This experience has not only built my confidence but also strengthened my belief in formal savings as a reliable path to financial independence and business growth.

Vida Ayine is a 35-year-old widow from Gambibgo, a community in the Bolga East District of the Upper East Region. She has three children, two girls and one boy. She works as a seamstress and a part-time farmer. Following the loss of her husband in 2023, Vida became the sole provider for her family, a responsibility that brought with it considerable emotional and financial challenges.

In addition to her dressmaking business, Madam Vida tried to support her household by selling candies and other petty items. However, this side business often proved unprofitable, as her children frequently consumed the products, and she sometimes used the goods as lunch support for them. By the end of the day, she was often left with no capital and no profit.

“I recently participated in a three-day training organized by the Widows and Orphans Movement (WOM), with support from the KGL Foundation. During this training, I learned about the importance of investing in assets and was introduced to the ‘leaky pot’ model, which showed how money can easily drain away through unnecessary spending,” she shared.

Before the training, Vida never considered rearing animals as a viable business. “I always thought rearing was a man’s job. As someone who goes to the market almost every day, I believed I wouldn’t be able to take care of animals,” she explained. However, the training helped her realize that relying solely on dressmaking, especially since it takes considerable time to sew each garment, would not be sufficient to meet her family’s needs.

Motivated by the training, Vida decided to diversify her income. Upon returning home, she used her savings of GHS 500 to purchase a female goat. Her goal is to rear and breed the goat so that within a year, she can grow the herd. As the animals multiply, she plans to sell some and eventually buy a deep freezer to start a small business selling local drinks.

In addition, Vida has started a simple savings practice at home by using a coin box. “At the end of the year, the coins I save will be used to support household needs or expand my business,” she noted proudly.

Vida’s story reflects the impact of practical training on financial literacy. With renewed confidence and a clear vision, she is gradually building a stronger financial future for herself and her children.