Council launches business support fund

The Eastern Regional Secretariat of the Council for Indigenous Business Association (CIBA) has launched a fund to support business growth.

The GHȼ200,000.00 revolving fund would be used to assist its members to expand their operations.

It would help to save them from taking loans at unacceptably high interest charges from micro-finance companies.

Mr. Stephen Kwabla Mensah, Regional Chairman of the Council, said this was part of steps to boost the economy of the region to give jobs.

The launch of the fund is part of a deliberate effort to rebrand the CIBA.

Mr. Mensah said the Council was determined to reinvigorate its activities to promote business development.

He called for the government to act quickly to tackle the high utility tariffs, which were crippling businesses.

He said it was important to review the electricity and water tariffs downward to bring some relief to business operators – to achieve profitability and create employment for the people.

Mr. Shallovern Srodah, the National President for CIBA, money given to members from the fund would not be for free and that they would have to pay back.

He urged businesses to be innovative to keep them going.

Source: GNA