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ECONOMICS

AKUAPEM N: MCE launches revolving fund at Adawso-Akuapem

Market women in Akuapem North Municipality on Thursday November 20, 2018 could not hide their joy as they lauded the current government amidst singing and dancing in a mini-durbar organized by the Akuapem North Municipal Assembly to share a Revolving Fund of GH? 80,000.00 accrued by the Assembly.

Date Created : 11/24/2018 1:33:43 AM : Story Author : Samuel Y. Kumah/Ghanadistricts.com

The amount was designated for One Hundred and Fifty (150) Market Women dully registered by Social Welfare Department on non-partisan basis.

Addressing the gathering, The Municipal Chief Executive, Denis Aboagye said he was happy the programme has finally been lunched and prayed that members in each group would show decorum and commitment in handling the funds that had been entrusted into their hands.

He said the main aim of his Excellency the President is to see every Ghanaian achieve economic independence. He was of the view that countries that achieve economic growth attain that as a result of trade and good road facility, adding, the revolving fund which was being given was the tip of the ice berg as government has a carefully planned agenda to help each and every one to develop his or her business.

Again, he was explained that the Assembly has planned to roof Adawso Market but upon second thought, “it was realized that what profit would it make if the market is beautify and roofed and not being occupied by traders as a result of unavailability of capital for business”. He called on all beneficiaries to put the money into good use stressing that what each group had received was what government could afford for the mean time. He explained, if a trader needed GHC 10,000 and he or she is offered GHC 1,000.00 or 2,000.00, that trader should accept it and look elsewhere for top up.

He also assured other trader groups who were yet to register to do so explaining, there was no cause for anyone to grumble because the criteria used was non-partisan and it was through registration by the Social Welfare Department, an independent group. He also mentioned that at the end of the year, the Assembly would require each group to render financial account to auditors and that what each beneficiary has received would not attract any interest. He implore beneficiaries to repay the lump sum given to them so that others could also benefit.

The Regional Minister, Kwakye Daffour commended the Municipal Chief Executive for such a laudable idea and that it was the first time something of this kind had taken place. He called on other districts to emulate the shining pace Akuapem North had taken. He said he had engaged all his life in trading and still a trader. He said countries that flourished economically all thrived on trade ties with other countries. Even modern Pastors and evangelist trade in anointing water and flora water in their churches. This cliché drew uproar of laughter from the gathering.

He said comparably, Eastern Region is fortunate with arable land and mineral resources which if well planned and exploit would bring great fortune to the region. He advised beneficiaries to put the fund to good use and unselfishly make it a point to repay the lump sum for others also to benefit. He reminded the gathering of the MASLOC programme which was poorly implemented by the previous governments. He challenged the women to use this opportunity as a panacea to grow their businesses.

The Hounourable Member of Parliament for Akropong Constituency, Nana Ama Dokua rather took the women down memory lane as she reminded the gathering that barely 2 years ago when the party came to the area seeking their mandate, the party promised them that such a programme would be put in place if the party was voted into office. Thankfully that dream had been achieved and the time has come to redeem their pledge. She called on all the trade groups to put the fund they had received into gainful use. She assured other traders and artisans, hairdressers, Seamstresses and the likes to wait patiently because the government had put measures in place to help all so as to shove off pressure on government’s shoulder.

At the end of the programme 13 groups well given their respective checks summing up to Thirty Six Thousand Five Hundred Ghana Cedis (GHC 36,500.00), so far150 petty traders were registered by Social Welfare Department to start the Revolving Fund programme.

The occasion was graced by the Eastern Regional Minister and MP of Nkawkaw Hon. Kwakye Daffour, the Deputy Information Minister and MP for Akropong Constituency Hon. Nana Ama Dokua Asiamah, the Chief Executive for Akuapem North Municipal Assembly Hon. Denis Edward Aboagye, the Coordinating Director of Akuapem North Municipal Assembly Mr. Francis Mensah and N.P.P party executives among others.