Business News Wed, 30 Dec 2015

LaDMA gives soft loans to traders

The La Dadekotopon Municipal Assembly (LaDMA) has presented soft loans to 100 petty traders within the municipality.

Twenty-five traders were drawn from four associations each, namely: United Ladies, Peace and Love, Anointed Ladies and Unique Association.

Presenting a cheque for GH¢600 to each of the traders at a ceremony at La in Accra yesterday, the Municipal Chief Executive of LaDMA, Ms Rita Odoley Sowah, said the assembly aimed at empowering the traders to enable them to improve upon their business.

She said the assembly focused its attention on infrastructure, especially roads, and it felt the women, who were the backbone of the community, needed a little push to enable them to support their families.

She said the loan scheme, which is a revolving fund, required no collateral but beneficiaries were to repay loans within six months for other traders to also benefit.

Ms Sowah said that was only a pilot project for petty traders and that very soon it would be extended to all traders within the catchment areas.

She advised the women that although the money was not much, their commitment to pay back on time would enable the assemble to increase the amount.

One of the beneficiaries, Madam Adwoa Mansa, on behalf of the recipient expressed her appreciation to the assembly for the gesture and indicated that they would work hard to repay the money.

Source: Graphic.com.gh