Ga Presbytery Opens Microfinance Operation

 J. N. B. Tetteh, GAP Board Chairman, in a chat with Seth Terkper, Minister of Finance

The Ga Presbytery of the Presbyterian Church of Ghana has opened a new micro-finance institution called GAP Microfinance in its bid to broaden its financial base.

Situated at the Jubilee House at Kuku Hill, Osu, the financial institution, which commenced operations on 1 March, 2014, is open to members of the congregation.

It would provide GAP Savings Account, Fixed Deposit Investments, GAP Personal Loans, GAP Employee Loans, among others, to the congregation.

The leaders of the Ga Presbytery noted that the establishment of the institution was an indication of the Church's mandate 'to preach the gospel of Christ to all and to win more souls for the Lord.'

J. N. B. Tetteh, Board Chairman of GAP Microfinance Company Limited, delivering his address at the official launch of the company, said the project is 'one of the surest ways of alleviating poverty, creating and sharing wealth.'

He said the company, a tier two micro finance institution, believes in promoting small-scale businesses and initiatives that promote self employment and business ownership.

'It is precisely because of this that GA Presbytery has set up the GAP Microfinance Company,' he said.

Seth Terkper, Minister of Finance, said the financial institution would stimulate the local economy by creating and offering employment opportunities to the congregation, as well as people outside the Church.

He stated that 'ethical and moral values underpinned by strong Presbyterian discipline will differentiate us from other banks.

He asked all members of the Presbyterian community to apply the ethics of the church.

'The vision is to grow the company into a savings and loans company over time,' he stated.

'The critical mass will drive this dream a lot faster.'

 By Stephanie F. Miles