Episode 7: The Story of Fred
Foreword Hendrik
Enjoy reading Fred's inspiring story.
Growing up in rural Ghana
Fred grew up as the sixth of eight children in a small village in eastern Ghana. In this rural area, his school days were not easybecause school often lacked basic materials like exercise books were lackingnot to mention computers or similar infrastructure. After school, Fred helped his mother sell yam (a root tuber and staple food in Ghana) at the local market.
Unknowingly, he learned the craft of trade and finance at an early age.
While his father was a school accountant, it was neither Fred's nor his father's wish that he would one day follow in his footsteps, because like many of his classmates, Fred had the dreamto become a doctor.
He and his whole family were all the more proud when he graduated from medical studies at the local high school.
But as is sometimes the case with our wishes, when they come true, we realize that they are not what we imagined.
That's what happened to Fred, because although he found the subject exciting, it wasn't his world and he liked it less and less every day.
So he decided to change subjects and study accounting.
And what may sound incomprehensible to some was the best decision he could have made.
His penchant for numbers and their correlations inspired him and so he completed his studies as a "Chartered Accountant" with top distinction with top honors.
Meet Fred
Frederick (Fred) Affum was born in 1987 and grew up in the village of Larteh in the Eastern Region of Ghana. Fred is married and his pride and joy is his son Frederick Junior. Fred has a great musical talent, plays in several bands and our whole team always looks forward to the evenings when Fred unpacks his guitar and gives a little concert after work.
Growing up in rural Ghana
Unknowingly, he learned the craft of trade and finance at an early age.
While his father was a school accountant, it was neither Fred's nor his father's wish that he would one day follow in his father's footsteps, because like many of his classmates, Fred had the dreamto become a doctor.
He and his whole family were all the more proud when he graduated from medical studies at the local high school.
But as is sometimes the case with our wishes, when they come true, we realize that they are not what we imagined.
That's what happened to Fred, because although he found the subject exciting, it wasn't his world and he liked it less and less every day.
So he decided to change subjects and study accounting.
And what may sound incomprehensible to some was the best decision he could have made.
His penchant for numbers and their correlations inspired him and so he completed his studies as a "Chartered Accountant" with top distinction with top marks.
Employment at fairafric and promotion to management
So he decided to apply to fairafric and convinced us not only with his expertise, but above all with the way he supports hisfellow people. Fred has been instrumental in helping us to build up and professionalize our finance department in recent years. As the point of contact for our auditors and banking partners, he has introduced and optimized new processes in a very short space of time.
In doing so, he has shown a keen instinct forstrengthening our partnerships and has guided us through one of the most challenging times in Ghana, which was characterized by hyperinflation when the value of the local currency fell by more than 50% within a few months.
Fred now heads our finance department, which consists of five people, and Fred helps everyone in his team to take the next development steps and to undergofurther training .
Creative solutions for all employees
With this program, fairafric employees can receive an interest-freeloan from fairafric, which theyrepay in full over the coming months through a pro rata reduction in their salary.
This is particularly important as private individuals in Ghana rarely receive loans from the local banks and if they do, then only at extremely high interest rates. In some cases, these are over 40%.
To make matters worse,many costs in Ghana arenot paid monthly .
These include, for example, theschool fees that have to be paid every six months , but one of the biggest reasons is something that would be unthinkable in Europe: the rent.
In Ghana, the rent is not paid monthly, but in one payment every 12 months or sometimes even only every 24 months. At these times, the sums exceed the reserves of most families.
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