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07.10.2008 Business & Finance

BUSAC Fund not micro-credit –Manager

By gna

Mr Dale Rachmeler, Fund Manager of the Business Sector Advocacy Fund (BUSAC) has explained that BUSAC grants are to tackle operational problems of selected business areas in an integrated manner to raise production in those sectors.

He said the grants, therefore, were not the same as micro-credits for businesses.

Mr Rachmeler was interacting with executives and members of the Hohoe Cooperative Drivers Union, which with BUSAC help, has initiated a programme for vehicle owners to start paying monthly contributions to the Social Security and National Insurance Trust (SSNIT) for their employees.

Mr Rachmeler said BUSAC, which commenced its activities in 2004, had so far granted 3,030 grants to private groups in the country and hinted that the current phase of the project would wind up in March, 2009.

He advised the Hohoe Cooperative Drivers Union to ensure that their drivers secured their future through contribution to SSNIT.

Mr Rachmeler said the BUASC fund had been extended to business associations in all districts in the Volta Region except Krachi-West and Kpando districts.