Business News of 2014-02-06

Bongo District to experience economic boom

Mr Alexis Adugdaa Ayamdor, District Chief Executive for Bongo said the district would start exploring rock deposits through quarrying to create more jobs for the people.

The area is well known for its varied rock deposits covering about 30 per cent of the land size. Several governments have attempted wooing investors to the area to explore these untapped natural resources but little success had been achieved.

Mr Ayamdor said the people would soon feel and experience the boom in the local economy as the assembly had gone far in negotiations with the Savannah Accelerated Development Authority (SADA) and other key investors for the project.

He mentioned Afrique Marble and Granite Company as the key investor and said the company would begin work on a 91-acreage deposit of rocks in the district adding that actual work would start by end of February once the assembly received the green light from SADA.

The DCE, who announced this during the Third Annual General Meeting of Bongo Rural Bank, said when this was done it would help create more categories of jobs for the people particularly the youth.

He said the district had been enrolled onto the Rural Enterprise Programme to train the people in employable and business management skills. The assembly is also working assiduously to have a Rural Technology Facility established in the district.

The facility, Mr Ayamdor said, would be equipped with modern metal fabrication machines and manned by master trainers who would impart knowledge to thousands of youth and guide them to establish themselves after training.

He impressed upon the bank to take the opportunity to boost its business by encouraging more small businesses to subscribe to their services and increase its clientele base.

He urged the management of the bank to be proactive in designing products tailored towards the peculiar needs of rural customers to propel the much needed expansion of their businesses and other economic developments.

He appealed to citizens and residents of Bongo as to purchase more shares and urged existing shareholders to increase their shareholdings to help the bank to grow.

Source: GNA
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