About 250 women in the Ablekuma West constituency are to benefit from a 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 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 for financial independence.
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 initiate such a programme as a financial stopgap for members.
She, therefore, cautioned beneficiaries of the programme against applying for MASLOC loans to allow others to have access and benefit from the MASLOC credit facility.
“It is not everyone who might want the ₵1000 loan. Perhaps some would prefer a small freezer or a popcorn 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 bookkeeping 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, looks presentable and also avoid unnecessary spending especially when no profit had been realised from their business ventures.
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.
The National Women Organizer of the ruling New Patriotic Party, Madam Kate Gyamfua, who was at the function advised the Women to respect party structures and jealously guard the gains the NPP has made to ensure victory in election 2020.
Other leading members of the NPP who graced the occasion included, Dr Michael Tanu, Director-General Ghana Meteorological Agency, Mrs Mokowa Blay Adu-Gyamfi, former Director-General, Ghana Aids Commission, Mr Robert Kwesi Nicole, Deputy MD, State Housing Company Limited. Madam Lydia Atiemo, Deputy CEO, YEA among others.