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19.09.2004 Business & Finance

Nyakrom rural bank launches new scheme

By GNA

Agona Nyakrom (C/R), Sept 19, GNA - The Nyakrom Rural Bank, has launched a small and medium enterprise micro-credit scheme to help the business community to expand their ventures. It is also designed to help businesses operating within the bank's area of operation to facilitate poverty alleviation programmes especially among women.

Mr Francis Kofi Lawoe, Chief Project Officer of the Bank, told the Ghana News Agency (GNA) at Agona Nyakrom that a maximum 10 million could be approved for an individual or an enterprise during the pilot programme. He said payment of the facility would be on monthly basis to enable the beneficiaries to expand their businesses. Mr Lawoe stated that the bank had already successfully operated more than three micro-finance schemes for market women in line with the government poverty reduction strategy for women.

The Bank had disbursed about 5 billion cedis to women's groups at Agona Swedru, Nyakrom, Odoben and Bobikuma, adding that, there were plans to extend the facility to other areas. He said the scheme had become necessary to meet the growing demand of customers and stated that the Bank was striving hard to increase deposit and profit margin to offer more facilities to its customers. Mr Lawoe called on individuals businesses operating in the Bank's area of operation to take advantage of the scheme to expand their businesses. He appealed to the Ministries of Women and Children Affairs and Manpower Development and Employment to use the Bank to disburse their facilities to women.

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