In May, the Penn State Global Business Brigades student organization traveled to a rural community in Ghana on a microfinance brigade. The purpose was to help residents of Ekumfi Adansi Maim, a community with a population of about 250 people, better understand and use their finances.
A previous business brigade from the University of Texas recently established a community-run bank in the town known as the community development fund. The Penn State brigade followed by helping the residents learn how to best use the fund.
“It was our job to explain how the community development fund is run, the importance of active savings and the positives and negatives of credit and loans,” said Karl Osis, an actuarial science major in the Smeal College of Business who will begin his senior year in the fall.
Upon arrival in Ghana, the nine students who traveled on the 10-day trip split up into three groups. Each group was assigned several families to meet with over the course of their stay.