Regional News Wed, 5 May 2004
Takoradi May 5, GNA - The Gold Fund Unit Trust, a new product of the Gold Coast Securities Limited was launched at Takoradi on Wednesday with a call on the people to cultivate the habit of saving part of their incomes for long-term benefits.It is aimed at efficient mobilisation of savings from the formal and informal sectors to provide capital investment in viable ventures for the benefit of participants.
Nana Kobina Nketsia V, Omanhene of Essikado traditional area, who launching it, said, long-term savings towards the mobilisation of capital was critical in the efforts to encourage private sector participation in the national economy.
The launch of the Unit Trust in the region, he noted, was a " New opportunity that the country had been waiting for", for vigorous and efficient mobilisation of capital to boost private sector development. He said the new product has several advantages to the investor over most of the existing methods of savings and urged the people to grab the opportunity to improve their finances.
Nana Nketsia also urged the Company to adopt aggressive public education programmes that would enable the people to understand the operations of the Unit Trust, which has the capacity to improve the lots of the people.
Mr. Seth Quaynor, Managing Director of Gold Coast Securities Limited explained that the product, which is the first of its kind in the country, offers a viable investment opportunity for the people, including traders, farmers and all those with low incomes.
"The Unit Trust offers the opportunity for all to save and earn higher interests on their savings, since these would be invested in viable ventures."
He said the company has trustees and an advisory board to protect and ensure that all investments were viable to make all savings safe, saying, "Long term savings is another way of creating wealth". The cost of one unit is 500 cedis and prospective investors have to purchase a minimum of 20 units, he said and added that the Trust, which is operated worldwide, would create a pool of funds that is invested in viable ventures for the benefit of members.
Mr. John Eric Janie, the Western Regional Co-ordinating Director noted that Gold Coast Securities has an enviable reputation for efficient financial management practices and encouraged the people to invest in the new product.