More than 300 traders and small scale business enterprises in the Mfantsiman West District of the Central Region have benefitted from a GH¢1.2 million micro-credit facility made available by the Ahantaman Rural Bank.
The micro-credit facility formed part of the Bank’s renewed financial intervention programmes for individuals, groups, and small and medium scale enterprises to expand their businesses to create more employment.
The beneficiaries, made up of 26 groups of petty traders, fishermen and fishmongers, caterers, electricians and electronic technicians, received between GH¢2, 000 to GH¢20,000 each.
The programme was facilitated by the Social Investment Forum (SIF) to ensure the growth of businesses and help reduce poverty, particularly in deprived areas.
The traders were taken through months of business plan preparations, processes of business registration and best practices including record keeping, marketing and how to access credit.
Mr John Adjei, the Head of Microfinance of the Bank, said the goal was to encourage young people to take bold decisions to create jobs for themselves and others.
He said excellent service delivery was a prerequisite for the successful growth of businesses in a highly competitive business environment and urged the beneficiaries to make it their topmost priority.
Mr Adjei said the credit facility was in fulfilment of the Bank’s core mandate of providing flexible, easy and accessible credit facilities to reduce poverty and create enterprising business personalities.
He advised the beneficiaries to use their monies for the intended purposes to generate more income and improve on their living conditions.
Mr Adjei assured traders and professionals such as bakers, hairdressers, dressmakers and barbers who did not benefit that the Bank would support them to grow their businesses.
He said this would enable them to make contributions to the growth of the economy and make life more meaningful for others.
He said the Bank would regularly monitor, guide, counsel and offer innovative ideas to businesses to help them improve.
Madam Faustina Akuba Mensah, the Western and Central Regional Zonal Coordinator of SIF, advised the traders to put the credit assistance to good use to boost their businesses.
Mrs Naomi E. Acquah, a representative of the beneficiaries, expressed her sincere gratitude to the Bank and SIF for their support and promised to maintain a healthy relationship by putting the monies to good use.