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Business News Sat, 21 May 2005

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Mankessim based non banking institution makes progress

Mankessim (C/R), May 21, GNA - One hundred and ten customers of the Modern International Micro Finance Limited (MIMF), a Mankessim based non banking institution has been granted loans to the tune of 181 million cedis to its customers to promote their businesses. MIMF, which started operation in March this year, has so fat mobilised nearly 500 million cedis to enhance its micro credit activities.

Mr Moses Arthur, Manager of the MIMF disclosed this at a meeting with its customers at Mankessim said the institution was poised to support reliable customers in their economic ventures. He said the idea was to augment the government's effort to reduce poverty and to create employment opportunities for the jobless youth. Mr Arthur advised beneficiaries of the scheme to use the facility judiciously to enable them expand their businesses so that they could be able to contribute to the development of the country.

Mr Benjamin Afful, Managing Director announced plans to embark on a programme to counsel beneficiaries on the proper use of loans to avoid misapplying the funds. 22 May 05

Source: GNA

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