Becoming financially resilient in the face of climate change

The Story of Sugru Nye Bobgu Shea Cooperative in Ghana

Fusieni Maria: “As the president of the Sugru Nye Bobgu Cooperative, I can confidently affirm that establishing our Financial Service Business Unit has been pivotal in progressively transforming our financial standing and rebuilding trust with the bank."

This year, our cooperative secured a loan of GH₵ 56300 (EUR 3653.87) from Advance Ghana to aggregate shea nuts. However, a severe drought drastically affected our primary source of income, disrupting the 2024 shea nut harvest and leaving us unable to meet our full repayment obligations. The cooperative faced immense pressure as the GH₵12,000 (EUR 778.801) loan repayment balance deadline approached, posing a serious threat to our financial credibility and reputation.

During our yearly action planning, with support from Agriterra, we sought innovative solutions to strengthen members' financial resilience. Together, we initiated steps to establish a Financial Service Unit within the cooperative, adopting the VSLA approach. In February 2024, Agriterra provided training and toolkits, followed by advisory visits to ensure our success. By October 2024, 147 members had subscribed to the unit, mobilizing GH₵46,595 (EUR 3024.02) in savings.


Cooperative president Fusieni Maria

Faced with the urgency to repay the loan balance, we unanimously agreed to use our collective savings to pay the debt. This decision not only preserved our good credit score with the bank but also demonstrated our resilience and unity as a cooperative.

Today, we have peace of mind to focus on our farming activities and are inspired to make every contribution count within a system that supports our financial needs. On behalf of all members, I extend heartfelt gratitude to Agriterra. This journey has shown us that the collective power of a cooperative is a transformative force for achieving financial resilience."