Teachers advised to invest towards a secure future.

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Reverend Daniel Ogbarmey Tetteh, Head of

Research, Data Bank, on Thursday advised teachers to build a secure

future for themselves and their families through aggressive savings and

investment rather than consumption.
To be able to do this, they would have to rationalize their expenditure

patterns, avoid impulse buying and develop the concept of budgeting

with investment and wealth creation as the primary objective, Rev.

Ogbarmey Tetteh said.
Rev. Ogbarmey Tetteh gave the advice at a lecture to mark the 10th

anniversary of the "Teachers Fund" in Ho on the theme: “Teachers Fund

of GNAT, Our dream, Our Future".
He urged teachers to endeavour to be abreast with financial matters

and investment opportunities locally, to be able to “put their money

where it would bring them huge dividends to cushion them during their

retirement.
Mrs Rosalyn Darkwa, Teachers Fund Administrator the Fund has

come a long way from the days of skepticism and low patronage to

become a reliable source of financial support for its 150,000 members”.
Mrs Darkwa said the Fund was worth approximately GH¢31.1 million

as at December 2007 from a low of GH¢0.3 million in 1999 and GH¢3.55

million in 2002.
She said between 1999 and 2007 a total of GH¢31.18 million were

given as loans to over 107,000 members.
Mrs Darkwa said the Fund hopes to consolidate its position as a

formidable financial institution committed to making life more

"meaningful" for the teacher and to make the profession highly attractive

to the future generation.
She said this would be done through engaging in investments and

projects that had been proven to be high yielding with the potential to

preserve the assets of the Fund.
Mrs Darkwa said the Fund intends to go into a housing scheme for its

members, decentralize its operations and go into banking with the

assurance that the Fund has a bright future.
Ms Rosemund Keteku, Volta Regional Trustee of the Fund, in a

welcome address said the anniversary celebration was aimed at

re-branding the Fund to further boost the image and social standing of

the teacher.