Ursula Owusu-Ekuful addressing women at the programme
About 250 women in the
Ablekuma West Constituency are to benefit from the livelihood empowerment
programme initiated by the Member of Parliament (MP) for Ablekuma West, Ursula Owusu-Ekuful.
The beneficiaries that
comprise of polling station executives of the New Patriotic Party (NPP) are to receive
a maximum financial support of GH₵1,000 interest-free loans, which is being
facilitated by Innovative Microfinance Company Limited.
The loans- payable within
a six month period, are expected to provide beneficiaries with the needed finance
to grow their livelihoods while building their capacity to financial
Speaking at the launch of
the programme over the weekend, Mrs Owusu-Ekuful disclosed that the delay in
accessing the Microfinance and Small Loans Centre (MASLOC) credit facility by
the constituents, prompted her to initiating such a programme as a financial stopgap
She therefore cautioned
beneficiaries of the programme against applying for MASLOC loans so as to allow
others, the access and benefit from the MASLOC credit facility.
“It is not everyone who
might want the GH₵1000 loan. Perhaps some
would prefer a small freezer or a pop corn machine for their business. There
are packages available for such persons, where you are provided with items and
you make payments out of revenue realised from the use of the items” she said.
A financial consultant,
Gifty Aba Amoah advised beneficiaries to adopt good book keeping practices, in
order to keep track of all transactions and also shun the risky practice of
lending loan monies to others with the intention of earning interest.
She also urged
beneficiaries to among other things add value to their services, adapt to
changes in the marketing environment, look presentable and also avoid
unnecessary spending, especially when no profit had been realised from their
The Deputy Chief
Executive Officer of MASLOC, Abibata Shanni Mahama Zakariah advised beneficiaries
to honour their obligations of repaying their loans as a way of reciprocating
the love shown them by their MP.
Also present at the programme were the National Women’s Organiser, Kate Gyamfua and the Director General of the Ghana AIDS Commission, Dr. Mokowa Blay Adu-Gyamfi.
By Issah Mohammed