Jema (B/E), June 19, GNA – Mr. John Anonpure, the Jema branch Manager of the Brong-Ahafo Catholic Cooperative Society for Development (BACCSOD) has advised farmers, artisans and entrepreneurs to form groups to easily access credit facility from the Society to expand their businesses.
He said the savings and loans cooperative financial institution targeted to provide all-inclusive financial services, to particularly rural dwellers deprived of financial services.
He emphasised that all small scale and medium enterprises and businesses that transacted businesses with the society qualified for credit facility, but priority was always given to those that had organised themselves into cooperative groups and associations.
In an interview with the Ghana News Agency at Jema in the Kintampo South District of the Bono East Region, Mr. Anonpure indicated that the society had strengthened its internal security control systems to guard against fraud.
He pointed out that cash deposits of customers were always secured at BACCSOD and advised its customers to remain loyal because the society had designed excellent financial services for them.
Mr. Anonpure said BACCSOD continued to grow from strength to strength, saying the Jema branch, which was set up in 2011 with only 262 customers could currently boast of 10,115 customer base.
Last year, the branch offered GH¢1, 332,170.00 credit facility to 488 customers and its profit grew by 110 per cent in the 2016/2017 fiscal year.
As at 2018, the Society’s asset base stood at GH¢3, 149,478.84, the branch Manager indicated and added that this year, more loans are being provided to farmers, especially those in the poultry and livestock production and cashew farmers.
Mr. Anonpure said BACCSOD was celebrating its 45th anniversary of existence nationwide, and the Jema branch was reaching out to educate market women, artisans, farmers and all customers.
The education centres on proper financial management, record keeping, realistic business ideas and plans as well as the introduction of new products to customers.
Mr. Anonpure entreated all entrepreneurs to adopt the culture of savings and transact business with BACCSOD so as to tap into its numerous available opportunities to grow their businesses.
He cautioned entrepreneurs in particular to be wary of emerging financial institutions, which promised to pay high interest rates above that of the Central Bank bench mark.
Most of such financial institutions cropping up these days have no Bank of Ghana’s (BOG) operational licenses and they are into business to dupe unsuspecting entrepreneurs, businesses and customers.
Mr. Anonpure advised the general public to endeavour to do background checks from the BOG before transacting businesses with most of these new micro-credit institutions.
GNA
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