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12.11.2005 Regional News

Forty women benefit from loan package

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Kumasi, Nov 12, GNA - Mrs. Elizabeth Agyemang, Member of Parliament (MP) for Oforikrom in the Kumasi metropolis, has secured a 369 million-cedi credit facility from the Sekyedumase Rural Bank for women's group in the constituency.

The beneficiary groups included women's groups in the constituency irrespective of their political affiliation or ethnic origin and they had amounts ranging from four million cedis to 10 million cedis each. Speaking at the presentation of the money to the beneficiaries in Kumasi at the weekend, Mrs. Agyemang warned the women not to use the money as housekeeping money for their families but put it into profitable ventures that will yield good returns. He also asked them to cut down their expenditure on clothes and the competition they engage in with their colleagues and said it was one sure way of wasting money.

The MP reminded the beneficiaries that since the loans were a revolving fund, non-payment would prevent other women from benefiting from it and therefore asked them to pay back the loans on time. Mrs. Agyemang lauded the women who benefited from the loan twice for the prompt payment even though a few were proving difficult in the repayment.

Madam Zeinabu Sallow, the Anloga branch Managress of the bank, who paid the money to the women, cautioned the traders amongst them who travel to neighbouring countries to trade to make sure they pay all custom duties to avoid their goods being seized by customs officials. She said the bank has since last year released over one billion cedis as loans to petty traders within its catchment area to help them improve upon their businesses.