The Coastal Development Authority has launched its Credit Union facility here in Accra. The scheme according to its Chief Executive Officer, Jerry Ahmed Shaib Esq., the scheme is a recovery program designed to cushion the plight of traders belonging to the informal sector.
Speaking during a stakeholders engagement here in Accra, Mr. Ahmed Shaib said, ''this is a poverty eradication programme led by H.E Nana Addo Dankwa Akufo-Addo, President of Ghana aimed at helping SMEs during this difficult time of Covid19''.
On her part, Madam Christy Laryea, President and Queen Mother of Makola congratulated the Coastal Development Authority for such an important initiative aimed at deliberating ways to boost the private sector with traders playing a key role.
She was elated that traders have been regarded as contributors to national development for which reason the credit union has been geared towards financing them to retool the business.
Mrs. Laryea said ''we appreciate the honor done us and assure CODA and its partners that whatever financial assistance given us will be utilized to its intended purpose to enable us to repay within the required period.''
According to her, the facility has come at a better time when the world is faced with the COVID-19 pandemic.
She explained, ''we have been hit hard by this pandemic and appreciate Government relief support in the area of subsidized water and electricity consumption. We are very hopeful and wish to express our sincere appreciation to the Government. ''
She requested all businesses to support the Coastal Development Authority and the Government in all its activities to make the market in Accra to do business and advised all market women to observe the COVID 19 protocol by wearing a face mask, washing of hands, observing social distancing, and keeping safe always.