CEO of microfinance company debunks fraud perception

Mr Joseph Adu Quayson, the Chief Executive of Nationwide Microfinance Ghana, has debunked the perception that micro finance institutions are only set up to swindle people.

He said microfinance institutions have rather come to better the lives of the people by creating jobs and expanding businesses of the small and medium enterprises that could not directly access loans from the banks.

Mr Quayson was speaking at ceremony in Enchi in the Western Region to award participants of its recent promotions.

The savings and loans institution with branches in Tema, Ashaiman, Agona Swedru, Accra, Enchi and Dadieso ended the “save and win promo” in the various products line namely savings, asset management, trade financing, susu savings, meba daakye, daakyease, fixed deposits and asoriyiedie accounts.

Mr Quayson said despite some activities of unscrupulous operators, there are genuine ones who are registered and certified by the Bank of Ghana to operate, and encouraged the public to research about backgrounds of these financial institutions before transacting business with them.

Mr Clement Ohene Asare, the Branch Manager at Enchi said microfinance institution would work at improving the lives of people in its operational areas adding: “We just renovated the theatre of Enchi Government Hospital and supported the Aowin District Assembly in the celebration of the 59th farmers’ day.

He added that the institution would soon introduce a new programme by giving fertilizers and other inputs to assist farmers.

One of the award winners, Mr Kojo Essuah, a pig farmer recounted the assistance the microfinance had offered in terms of loans to expand their farms and businesses.

More than 10 clients of the microfinance benefited from the save and win promo and were presented with blenders, rice cookers, coke ware sets, frying pans amongst others.

Source: GNA