Cultivate the habit of saving -youth urged

Koforidua, April 24, GNA – Mr Philip Gborku, head of P MAG Investment Company, has appealed to the youth and market women to cultivate the habit of saving to reduce poverty and end the overreliance on politicians to better their lives.

He said poverty had become endemic in many communities in Ghana because people overlooked the importance of savings and investment.

Mr Philip Gborku, the Chief Executive Officer of the Company, said this to the Ghana News Agency on Wednesday, during the celebration of fifth anniversary of the company.

P MAG Investment Company, the Koforidua based non deposit Micro Finance Institution, has over the years intensified efforts to provide prompt, timely and short term financial services for businesses in the area.

‘This will give investors good returns on their investments and also educate all clients and investors on the proper use of funds of their businesses,’ Mr Gborku said.

He said the company since its establishment had helped and saved many small scale enterprises in the region from collapsing.

Mr Gborku said in the quest for economic empowerment, development and growth, many economies had yielded to the microfinance institutions to change the downtrend they experienced.

He said P-MAG was geared towards promoting social and economic development through the provision of timely financial assistance, investment and business education for the growth of individuals and businesses.

Mr Gborku said the company shall continue to ensure the satisfaction of clients, investors, shareholders and staff saying all investments were highly secured and protected by the State Insurance Company (SIC).

He said the company had employed over 60 workers in seven branches across the country.

Mr Gborku said the government alone could not put money in people’s pocket to alleviate poverty as had been the expectation of some people.

He said there was the need for people to take their destiny into their own hands and save for their future, which he said is the best way for reducing poverty.