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ECONOMICS

UEW Credit Union Chair calls for discipline among directors

The National Vice Chairman for the University of Education Credit Union, Emmanuel Akwasi Botwei has called on the Board of Directors of the various Micro Financial Institutions to exhibit high sense of discipline and commitment to enhance the sustainability of their organisations.

Date Created : 6/21/2019 8:49:47 AM : Story Author : Omono Asamoah/Ghanadistricts.com

He explained that, discipline and commitment should be the hallmark of every financial institution to enable it stand the test of time.

According to him, though the Bank of Ghana is doing its best in terms of monitoring and evaluation, the financial institutions must themselves maintain the momentum of discipline to ensure its growth.

Unnecessary borrowing from the coffers of the company by the hierarchies without paying back is one of the major hindrance of the microfinance institutions, he stated.

Mr Botwei made this assertion during interactions with Omono Asamoah when the UEW Credit Union of Ashanti Mampong organised a forum for its customers in Mampong.

Mr Benjamin Nketia, the Ashanti Mampong Coordinator for the UEW Credit Union assured that the status of their union is on firm ground therefore their clients should not panic.