Takoradi, Jan. 2, GNA - Mr. Emmanuel Addo-Anim, a banker with the Amalgamated Bank, has advised Ghanaians to carefully calculate the interest rate on loans before contracting them.
He said while some banks charged their interest rates on a quarterly basis, other did that on a monthly basis.
Mr. Addo-Anim said these at the family day service of the Resurrection Power and Living Bread Ministries International (REPLIB), on Sunday. He said every Ghanaian must have a bank account and should save regularly to safeguard their future.
Mr. Addo-Anim said it was too dangerous to keep money in the house and reminded the congregation that their regular savings could assist them to secure a loan from any bank.
He said long-term investments in Treasury bills, bonds, stocks and shares should be patronised by Ghanaians.
Mr. Addo-Anim cautioned that loans should only be contracted when it is urgently needed and not for the fun of it.
"Loans that are not re-paid could lead to prosecution, confiscation of assets and embarrassment for the customer," he cautioned. Onyame Akuwa Kwame Nti, Western Regional Head Pastor of the REPLIB, said the leadership of the church had decided to organise series of lectures on fire, law enforcement, customs, immigration, entrepreneurship and skills development to improve the social and economic lives of its members.
He said the focus was to assist the members to develop specialised skills that would make them less dependent on others. Onyame Akuwa Nti said the government should work in close collaboration with the Minority and the media.
He advised the media to shift their focus from politics and to concentrate on developmental and human resource issues. "Over concentration on politics to the detriment of other important societal issues could retard the progress of the country" he stressed. Onyame Akuwa Nti advised Ghanaian workers to improve on their work ethics and work harder for a successful nation.