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27.06.2005 Business & Finance

First Lady advises small-scale industrialists


Kumasi, June 27, GNA - Mrs Theresa Kufuor, the First Lady, on Monday advised small-scale industrialists undertaking similar ventures to form co-operatives instead of operating as individuals. She said while co-operative groups have easy access to financial assistance and a broader market, those who operate their businesses as individuals normally find it difficult accessing credit facilities. Mrs Kufuor gave the advice in Kumasi when she addressed the opening session of a one-week training programme on poverty reduction for under privileged women in the Ashanti Region.

The programme, which is being organised and funded by the Mother and Child Community Development Foundation, is to train 15 women in soap making after which they would be assisted with inputs or seed money to set up either in groups or on individual basis.

The First Lady founded the Mother and Child Community Development Foundation in 2000 to help improve the social and economic status of women and the underprivileged.

Mrs Kufuor, the President of the Foundation, said it was not just enough for groups to come together to form co-operatives but they should also ensure that such groupings are sustained by being transparent and rendering accounts regularly.

She said even though there might be disagreements in groupings of that nature, such petty squabbles should not be allowed to undermine the resolve of business entities to form co-operatives. Mrs Kufuor said apart from the soap-making scheme, the foundation would also explore other areas of training for those roaming the streets in order to equip them with skills that would help them become self-employed and to generate income.

Mrs Danso Dapaah, Co-ordinator of the Foundation, told the trainees to share their skills with others.

''This is crucial since it is not possible for the Foundation alone to reach out to all deprived or under privileged people unless such efforts are complemented by those who have already benefited from the foundation's training programmes,'' she said.