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Electrochem Ghana Limited disburses interest-free loans to Ada women

  22 Juin      5        Economy (15436),


Kasseh-Ada, June 21, GNA-Naana Adiki Manyeyo Adi I, Queen of the Royal Adibiawer Clan of Ada, has said that about 200 women entrepreneurs have received various interest-free loans in the first disbursement of the Electrochem Ghana Limited women empowerment project.

Naana Adi, who is also the head of the Community Sustainability Department of the company, said the revolving fund would go a long way to help stabilise the economic stance of the women entrepreneurs in Ada, who received between GH¢2,000 and GH¢10,000.

She told the Ghana News Agency that Electrochem, which is a subsidiary of the McDan Group of Companies, commenced the interest-free loan initiative in 2021 to facilitate the progress of the various businesses of the local women entrepreneurs, adding that over 2,600 women have benefited from the scheme with about 1,000 defaulters since its inception.

The company announced its commitment to empower women entrepreneurs in both Ada East and West Districts.

She expressed the hope that, in addition to the 200 women captured in the scheme for the first day of disbursement, an additional 1,500 women might get theirs before the Asafotu festival in August.

She disclosed that over 5,000 women have so far applied for the loan, expressing her excitement over the company’s ability to empower women entrepreneurs in the community.

She appealed to the beneficiaries to pay back their loan on time to make way for other applicants to also have their share of the loan.

“This is a good time for them to do business with the money because of the impending Asafotu festival. A lot of visitors will start trooping in, and so if they can utilise this opportunity, it will help them in a long way,” she said.

Naana Adi reminded the beneficiaries that the money disbursed to them is not meant for merrymaking or ceremonies but rather should be invested in businesses to help them overcome their financial burdens.

Some of the beneficiaries commended the company, expressing their amazement at the gesture, and noted that it is a great relief for them as the scheme will alleviate their poverty.

Ms Aisha, a palm oil seller, expressed joy over the loan and said, “I never knew I would be given it because people told me that it was a lie. I will make sure I pay and apply for another so that I can gradually expand my business.”

Madam Vida Osabutey, a plantain, and tubers seller at Kasseh, expressed gratitude to the company for intervening for them as women in small businesses.

Some of the women also indicated that the company organising business training sessions for them on how to manage their financial expenditure has been very helpful and will help them to develop their businesses even with the little finance they have.

The GNA has observed that the loan received by the women ranges from GH¢ 2,000.00 to GH¢10,000.00.

Opesika Tetteh Puplampu

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