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22.05.2012 Business & Finance

Hotelier Association to set up a bank

By Rose Hayford Darko - Daily Graphic
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The Ghana Progressive Hotels Association (GHAPROHA) intends setting up a Tourism Bank with resources from its Tourism Micro Financing Co-operative Credit Union to support operators to access favourable financial packages for various tourism related programmes.

The National President of the assoication, Nana Kojo Opei IV, revealed this during the inauguration and swearing in of various committee members of the Tourism Micro Financing Co-operative Credit Union.

Nana Opei appealed to tourism practitioners in area of tour operators, car rentals, catering services, restaurants, night clubs, drinking spots, tourism schools and accommodation plants to support the savings mobilisation and investment portfolio which the Tourism Micro Financing Institution afford to all.

He explained that the new system would relieve members from pressure brought to bear on them by financial institutions whose interest rates and charges are not in the interest of the business.

He, therefore, appealed to the government and Ghana Tourism Federation (GHATOF) to have a second look at the fund which is supposed to assist tourism operators.

Nana Opei announced the decision of the association to engage government to provide financial support at a minimal interest rate from the National Oil Fund to the Micro Financing System to enable active contributors access loans for productive economic ventures

He called on members of the association to be proactive using effective and efficient managerial systems which also calls for regular training of management and general staff.

Nana Opei affirmed their collaboration with all relevant agencies to promote mutual understanding and goodwill for the tourism sector to grow and achieve the target of one million tourists from the diaspora by the year 2015.

The Board Chairman of the GHAPROHA Co-operative Credit Union, Nene Bennet Cudjo Kubi, recounted that the union registered 11 in May 2011 and now has over 111 members made up of directors, managers, staff of hotels and a few non hoteliers.

He said GHAPROHA comes under the umbrella of the Ghana Tourism Federation (GHATOF) of which it is a member and therefore is part of the decision making body.

He expressed the hope that members would work hard to achieve the short medium and long term targets of the association.

The Tema Regional Manager of the Ghana Tourist Authority, Mrs Gifty Kwansa, commended the hoteliers for coming together to find funds for themselves to grow the industry.

She urged them to work hard to help the industry achieve its target of one million tourists by the year 2015.

The Tema Metropolitan Director of Co-operatives, Mr Godwill Gogovi, swore in members of the Loans, Supervisory and Education Committees of the Tourism Micro Financing Co-operative Credit Union.

Representatives of GHAPROHA from the Volta, Brong Ahafo, Ashanti, Northern, Upper East,Western, Central, Eastern and Greater Accra Regions witnessed the swearing in of the committees.

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