This report provides an overview of the impressive strides made by Ampong Joseph, a 20-year-old entrepreneur from the Western Region of Ghana, who has established a thriving Susu and loan business. Despite his young age, Joseph has demonstrated strong leadership, financial discipline, and a deep understanding of community-based banking. His business is showing remarkable growth and positively impacting lives in his local community.

• Name: Ampong Joseph

• Age: 20 years

• Region: Western Ghana

• Education:

• Primary: Stepping Stone School Complex

• Secondary: Prempeh College

Ampong Joseph’s educational journey helped shape his sense of responsibility and business acumen. From a young age, he showed interest in finance and problem-solving, which later motivated him to start his own business after completing secondary school.

Name of Business (Faculty Net Susu and Microloans):

“Faculty Net Susu & Microloans”

Services Offered:

• Susu Savings: Daily and weekly contributions collected from clients and returned at the end of the month after a small commission.

• Microloans: Short-term loans offered to clients with flexible repayment options and fair interest rates.

• Financial Guidance: Informal financial education to help clients manage their loans and savings.

Target Audience:

Market women, students, taxi drivers, street vendors, and small business owners in the Western Region and across Ghana.

• Client Base: Grew from fewer than 10 initial clients to over 120 regular contributors and loan users within the first year.

• Capital Growth: Monthly savings volume has tripled due to trust and excellent service delivery.

• Reputation: Known for punctual collections, transparent record-keeping, and fair loan terms.

• Digital Transition: Now using mobile apps and WhatsApp for tracking payments and sending reminders.

• Funding: Limited capital restricts the number of clients he can provide loans to.

• Financial Education: Some clients need better training on managing debt and savings.

• Technology Access: Needs improved digital tools to fully automate records and reduce errors.

6. Vision and Future Plans

• Branch Expansion: Plans to extend services to neighboring towns and districts.

• Partnerships: Seeking to collaborate with financial institutions and NGOs to boost capital and expand reach.

• Mobile Money Integration: Intends to partner with mobile money providers to simplify contributions and withdrawals.

• Youth Empowerment: Hopes to train other young people in starting similar businesses or working with his team.