Micro-finance consumers educated on financial prudence

Cape Coast, Dec. 5, GNA- Ghana Micro-Finance Institutions Network (GHAMFIN) and Support Programme for Enterprise Empowerment and Development (SPEED) Ghana, have began a consumer education and protection campaign for consumers of micro-finance services in the country.

As part of the campaign, which is the first of its kind in the country, a road show was on Tuesday held in the Central Region. It has already been held in Agona-Swedru and Bawjiase, while Winneba, Ajumako, Biriwa, Mankessim, Elmina, Kasoa and Abura-Dunkwa would have their turn later.

Mrs Offeibea Dodoo, a Senior Communications Officer at STRATCOM, a communication consultancy, which is coordinating the road show, made this known to newsmen at Cape Coast on Wednesday.

She said the programme is designed to safeguard the interests of consumers of micro-finance services by equipping them "with all the means necessary to make a wise and informed decision" as well as educating them about their rights and responsibilities.

She said consumers are also being informed about how to acquire right information from financial institutions at different stages of the borrowing and investment cycle, so that clients can take appropriate actions on matters affecting their "financial health and well-being". She said the educational aspect is in the form of a sketch in local languages, to enable consumers understand better the issues at stake, in addition to the distribution of fliers, posters and other materials, which depict the importance of financial prudence.

According to her, officials of rural banks, who are the main clients of such consumers, would also explain the financial issues that are would be raised during the programme.

She said this is to among others, help ensure quality service, dignified treatment of clients and truthful and transparent easy-to-understand information.

Mrs Dodoo explained that the road show, which ends in the region on Tuesday December 18, would be extended to the Volta and northern regions.