13.07.2006 Business & Finance

Bank Procures 46 Outboard Motors For Fishermen

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The Mfantseman Community Bank at Biriwa in the Central Region has procured 46 outboard motors worth 596,000,000 cedis for its customers on hire purchase.

The machines, which were in eight Horse Power (HP), 25 HP and 40 HP categories were sold to customers from Anomabo, Moree, Cape Coast, Ekon, Kormantse, Dago and Otuam at nine million cedis, 10.5 million cedis and 25.6 million cedis respectively.

Presenting the outboard motors to the beneficiaries at Biriwa last Tuesday, Reverend George Ato Mills-Graves, Chairman of the Board of Directors of the Bank said the gesture was to help the customers to overcome their financial problems and urged them to extend a helping hand to their friends by recruiting some of them into their companies.

Rev Mills-Graves cautioned them against selling the machines and diverting the money into other uses. He said that was the third time the Bank has embarked on such gesture and urged them to maintain the cordial relationship by being faithful.

Mrs Cecilia Budu-Hagan, a member of the Board advised the fishermen not to take advantage of the acquisition of new outboard motors to marry additional wives. Mr Ali Ampah, Credit Officer of the Bank said the cost of the equipment was spread over 10 months instalments, but advised those who could pay earlier than that to do so to beat down the interest.

Mr Peter Mensah, Acting Manager urged them to be worthy ambassadors of the Bank by not only paying the cost promptly but also by selling the Bank's programmes to the people.

Mr D D Anaman, who deputised for the Kormantse Chief Fisherman expressed their gratitude to the bank for providing the machines just at the right time when the main fishing season was about to start.

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