Ashanti region leads in establishment of Credit Unions

Kumasi, April 5, GNA - Mr John Philip Amoateng, Ashanti Regional Director of the Department of Cooperatives, has said that the Ashanti region has a total of 60 credit unions and leads in the establishment of such unions in the country. He mentioned the most viable ones among them as Saint Peter's Credit Union, Saint Paul's Credit Union, the Kwame Nkrumah University of Science and Technology Credit Union and Seventh Day Adventist Credit Union, all in Kumasi.

Kumasi, April 5, GNA - Mr John Philip Amoateng, Ashanti Regional Director of the Department of Cooperatives, has said that the Ashanti region has a total of 60 credit unions and leads in the establishment of such unions in the country. He mentioned the most viable ones among them as Saint Peter's Credit Union, Saint Paul's Credit Union, the Kwame Nkrumah University of Science and Technology Credit Union and Seventh Day Adventist Credit Union, all in Kumasi. Mr Amoateng told the Ghana News Agency in Kumasi on Friday that the unions have helped in giving employment to people in their areas. He commended them for granting loans to their clients to enable them expand their businesses and to improve their incomes, thereby reducing poverty. Mr Amoateng observed that loans delinquency was a major problem facing all the unions and advised members to ensure that loans granted them were paid promptly to enable others enjoy the facility. He said the cooperative concept was to create employment and to help reduce poverty levels among the people and expressed regret that it has not achieved the desired results due to lack of credit facilities, guaranteed prices for farmers' produce, as well as lack of storage facilities. Mr Amoateng urged government and other stakeholders to address the problems to help improve their living conditions.