Over 720 women receive GH¢150,000 under micro finance scheme

Gomoa Dawurampong (C/R), Aug 4, GNA - Over 720 women from three districts in the Central Region, have received a total of GH¢150,000 through the Akyempim Rural Bank under the Micro Finance Scheme to expand their businesses. Mr Jacob Wellington Assan, General Manager of the Bank, who told the Ghana News Agency(GNA) at Gomoa Dawurampong, said 50 groups made up of 728 women, have so far benefited from the scheme designed to help alleviate poverty among women in the catchment area. He expressed the happiness that the recovery rate of credit facility granted to the groups in the area had been 100 percent. This he attributed to the training the bank gave to them.

Mr Assan said the groups came from Winneba, Gomoa and Agona Swedru Districts and added that the next batch of credit would follow soon to other groups. He noted that the operations of the Micro Finance Scheme had been successful because Enam Project at the University of Ghana provided capacity building, logistics and funds to the bank. The GM said Akyempim Rural Bank currently ranked third in the Central Region and 33rd position out of the 126 Rural and Community Banks (RCBs) nationwide. He stated that the bank had mobilized a total of GH¢80,000 from its "Susu" savings product, which was instituted to inculcate saving habits in the people, adding that it had brought banking to the doorsteps of customers, especially market women.

Mr Assan urged petty traders in the area to take advantage of the product and patronize it to enable them receive more credit facilities and expand their businesses to reduce poverty. He said the bank had designed another product known as: "Acquired Property Scheme," for salary earners to enable them to invest in transport, building, trading, lands, store houses and other viable ventures with two years flexible repayment.

In addition, he mentioned 'Akwaaba Fresher' as another product, which is designed solely for the students of the University of Education, Winneba (UEW), who gains admission to help them settle their hostel bills, fees, and solve other immediate problems. He said customers with a fixed deposit above GH¢50,000 attract 20 percent interest rate on loans from the bank and therefore urged businessmen and women, corporate bodies, and non-governmental organizations to take the advantage to apply. Mr Assan said an office complex for the bank at Gomoa Dawurampong, which started in 2002, would be ready for use in November this year.