Frequently Asked Questions
Please check out frequently asked questions from women all over the world below. If you do not find your answer, please send us your question(s), and we will answer you as soon as possible.
What is SGA Cooperative?
She Grows Africa Cooperative is a Cooperative Society established for the empowerment of women through the pooling of funds and cooperation for trade and projects.
What are the benefits of belonging to She Grows Africa Cooperative?
Networking with like minded women, improved saving culture, access loans at little interest, exposure to investment advice and opportunities
Who can join the Cooperative?
Every female, whether single or married who can commit to a monthly minimum savings amount of not less than N5,000.00.
How often do the Cooperative members meet and on which days?
Cooperative meetings will be held virtually on a monthly basis, and physically on a quarterly basis. There will be annual general meetings held once a year with proper financial reporting.
How do I join the Cooperative?
Fill the membership registration form online at Shgrowsafrica. Once your membership has been approved, you would get a notification with details of the meetings you are to attend.
When I join and start saving, how soon can I access loans from the Cooperative?
Every member must have been in the co-operative for at least 6 months before they will be entitled to take loans. You must also have two people who are also members of the Cooperative, who have saved above the amount of loan you want to access, who can serve as a guarantor.
The guarantors must take note that they cannot access any loan until your own loan has been paid back.
Is there a registration fee?
The registration fee is a nominal amount of N5,000.00
Are there any penalties for missing meetings? If yes, what are they?
Absence from a meeting does not attract a penalty if the executives of the cooperative are given prior notice. However where notice is not given a penalty of N500.00 would be paid by the absent member.
Which other payments are members required to make?
All members are to pay monthly dues of N500.00. Development fee and running cost of the Cooperative.
Is there a minimum contribution amount that enables me access loans?
There is no minimum contribution that qualifies members for loans. However, no member can access a loan in excess of three times of the amount she has saved. You must also be a consistent saver and contributor in the Cooperative on monthly basis to be able to access loan.
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