Naana Adiki Manyeyo Adi I, the Ada Queen for the Royal Adibiawer Clan, has advised women in the area to pay back loans they contract to enable them to get access to more of such opportunities.
Naana Adi, who is also the Head of Community Development Department of Electrochem Ghana Limited, a subsidiary of McDan Group of Companies, says paying back such loans helped to ensure the smooth running of the scheme and allowed more people to access it.
In an interview with the Ghana News Agency (GNA) on women’s development in the area, she said the company had given loans to at least 2,600 women at Ada under its interest-free loan scheme since its inception in September 2021.
The scheme was mainly to support local businesses by women because it was the desire of the company’s Chief Executive Officer, Dr Daniel McKorley, that the progress of the subsidiary commercial salt entity must commensurate with the progress of local businesses.
Hence the company’s decision to absorb all the necessary costs to ensure that th
e money was given free to the women to support their trades.
‘One doesn’t need to deposit any money; there is no processing fee, no interest, nothing. You only need to bring your Ghana Card and get enrolled,’ she disclosed.
She, therefore, commended the Kasseh Market Women Association for the prompt repayment of the loan.
The market women, led by Madam Ernestina Nartey, the market queen, did so well in paying back their loans, saying that it was a testament that those who take loans in groups, through the connection of their synergies, would be able to pay them back on time than individuals.
Naana Adi, in charge of the loan scheme, indicated that out of the 2,600 beneficiaries, about 1000 had defaulted on repayment, adding that efforts were being made to get the fund back to assist others.
She revealed that the company had invested GHC1,000,000 more into the scheme to enroll more women in it to help small-scale businesses grow alongside the company’s operations in the Ada Traditional Area.
Source: Ghan
a News Agency