“[GSEC] is really about the connections you can make with other individuals in the field of social entrepreneurship. This competition is the most valuable thing, in my opinion, that the Foster School of Business has to offer.”  Sammie Rayner, 2009 GSEC participant







Nya dzordzor tso Atorkor! (News from Atorkor!)

Foster alumni Karin Avellaneda , Eric Appesland and Cole Hoover, have traveled to Ghana to work on the 2009 Global Social Entrepreneurship Competition (GSEC) business plan, Lumana Credit, founded by Sammie Rayner ('09). A recent update from the team shows Foster alumni thinking differently and making a difference:

"Our work has been incredible, every day we find new ways in which we can support this village in their development. The Foundation we have partnered with acts as the de facto government in the village so we are in a very privileged position and find tremendous support from the people to carry on with our work. We have been able to interview over 120 entrepreneurs and hear their stories, dreams, and most importantly their business plans. We will soon be done with our Community Needs Assessment and after spending hours with women around the village, we will be left with precious information about our 125 new prospects.

We have spent much of our time this week traveling to Accra since Ghanaian Rotarians have enthusiastically welcomed us to their meetings... before we knew it we were being invited to dine with the chief of a village 30 minutes away from Atorkor that was really impressed with our presentation and is thinking hard about funding our expansion to his own village. 

We have also begun to follow up with our clients from last year in order to root out problems and inefficiencies.  Margaret from Happy Vendors Food Sellers ... has been so successful in managing her finances that she put more than 5 times the required amount of compulsory savings, even while managing a pregnancy and a medical emergency trip to the hospital.  She has seen first hand the power of savings and is excited about her second loan she just received. "