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Regional News Wed, 23 Mar 2005

Youth urged to cultivate the habit of saving

Kumasi, March 23, GNA - A credit union official has appealed to the youth to cultivate the habit of saving to enable them have access to capital to invest in the future.

Mr Alfred Appiah, chairman of the Grace Baptist Credit Union in Kumasi, said the savings culture by the youth would also reduce their dependence on their parents and guardians for financial assistance. Mr Appiah was speaking at the annual general meeting of the union at Amakom in Kumasi on Tuesday.

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He said he was happy that 300 youth have so far joined the union since its inception about three years ago.

Mr Appiah said the total asset of the union rose from 627 million cedis in 2003 to 908 million cedis in 2004. Members' shares and savings raised from 526.9 million cedis in 2003 to 840 million cedis in 2004. Mr Owusu Afriyie, Kumasi Zone Manager of the Credit Union Association (CUA) also advised the members to continue to save most before seeking for loans. 23 March 05

Source: GNA
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