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Business & Finance | May 20, 2004

Gold Fund Unit Trust Launched at Tarkwa


Tarkwa (W/R), May 20, GNA- The Gold Fund Unit Trust, a product of Gold Coast Securities Limited aimed at facilitating long-term savings for investment, has been launched at Tarkwa.

Speaking at the ceremony, Mr Seth Quaynor, General Manager of the Company, said the Unit Trust scheme established under the Securities Industry Law 1993 has the capacity of providing long-term investment needed by local business enterprises.

He said the Gold Fund is the first of its kind in the country and is opened to all Ghanaians including Chiefs, workers, traders, teachers, farmers and nurses as well as those persons in the low-income group. The scheme would offer high interest on savings and encourage wealth creation adding that the cost of one unit is 500 cedis and investors have to purchase a minimum of 20 units.

He said the company would efficiently manage the fund to the satisfaction of all investors.

Mr John Eric Janie, Western Regional Coordinating Director (RCD) who deputised for the Regional Minister, said the scheme would contribute towards poverty reduction in the country and the government's "Golden Age of Business" programme.

He said it would benefit those who have not been able to establish their own businesses as a result of the harsh economic policies of past governments.

Osagyefo Kwamena Enimil the VI, Omanhene of Wassa Fiase Traditional Area, who launched the fund, asked mining companies and small-scale enterprises in the area to take advantage of the fund to expand their businesses.