The Financial Inclusion for Last Mile Actors (FILMA) program has successfully doubled the average monthly income for over 77,000 participants in rural Ghana. This initiative has significantly improved livelihoods for young women, youth, and persons with disabilities.
Launched in 2024, FILMA aims to empower 100,000 young Ghanaians by 2028. Temple Investments leads the program, with support from the Mastercard Foundation. It provides access to affordable loans, inclusive financial services, and market opportunities. Participants, known as Last Mile Actors (LMAs), include smallholder farmers, processors, and traders. These individuals often face barriers like lack of collateral and high perceived risk.
FILMA operates in 18 districts across the Volta, Oti, Bono East, and Northern Regions. The program mandates that 70% of participants are women and 5% are persons with disabilities. A consortium including Catholic Relief Services (CRS), AV Ventures, SEND Ghana, and Enterprise Life supports its implementation. Enterprise Life offers insurance to reduce financial risks for rural individuals. This approach moves away from traditional grant models to create sustainable economic hubs.
Data from the first two years shows strong progress. FILMA has enrolled 77,868 LMAs, reaching 78% of its target. Over 44,476 youth have transitioned into dignified work, with 40,028 being young women. The program also includes 2,151 persons with disabilities. The average monthly income for an LMA has risen from GHS 1,334 to GHS 2,793. The number of LMAs able to secure financial products increased from 3% to 38%.
FILMA also introduces microinsurance and promotes diversified income sources. This helps protect against agricultural volatility. Initiatives include training for 1,099 individuals in beekeeping, 500 in mushroom production, and 2,661 in dry-season vegetable farming. These efforts build economic resilience in rural communities.
Participants shared their transformations at a recent learning event in Accra. Sakina, a young woman, learned financial literacy and saving habits. She now saves 30% of her funds regularly. Gifty, a university graduate, found employment in mushroom farming. She joined a Voluntary Savings and Loan Association (VSLA) through FILMA. The collective savings allowed her to buy essential farming materials and launch her business. This highlights how structured local savings can overcome traditional credit barriers.
Senior figures discussed the challenges facing local producers. Caleb Edwards of WAMI AGRO noted that import liberalization hurts local competition. Cheaper foreign capital and subsidies give importers an advantage. He stated that local companies face significant losses from these policies, impacting jobs. For instance, a rice farm had to lay off 18 workers. Edwards stressed that credit access alone is insufficient without market protection.
Representatives from Absa and Maroon Capital discussed lending risks. They emphasized the importance of digital lending to reduce costs. However, they also highlighted the need for market solutions to support rural enterprises. These discussions reflect the broader economic strategies required for sustained growth in Ghana's agricultural sector.