Popular Obuasi-based NGO Appianin-Bonsec Fun Club, has allocated ₵100,000.00 in interest-free loans to uplift 100 women entrepreneurs in the mining town.
The significant gesture was unveiled at a vibrant ceremony in Obuasi, marking a milestone in the club’s ongoing empowerment program aimed at fortifying local businesses.
Conceived in May 2022, the Appianin-Bonsec Fun Club has been proactive in tackling the pressing issue of unemployment in Obuasi. The generous loan amount symbolizes the club’s commitment to fostering economic growth and providing tangible support to women-led enterprises in the community.
President Kofi Appianin Ennin, expressing the ethos behind the initiative, said: “As a group, we understand the challenges our women go through, and judging from their role in the home, we decided to provide them with this interest-free loans to cushion them.”
He highlighted the importance of recognizing the pivotal roles women play in households and the broader community.
The loan disbursement, which totals GHS100,000.00, signifies the club’s dedication to uplifting women in business. Ennin explained, “Each beneficiary will get GHS1000, which will be expected to be paid in 5 months’ time.”
The emphasis on a reasonable repayment period reflects the group’s commitment to supporting entrepreneurs without undue financial pressure.
This recent initiative builds upon the success of a prior loan program where 50 women in Obuasi were able to repay within the stipulated period.
“The motivation from the successful repayment of the initial loans encouraged us to come out with the second tranche”, Ennin shared indicating the club’s optimism about the positive impact on the local economy.
“There is the need to focus on diversifying the economy of Obuasi through other means other than focusing on the Obuasi mine”, he remarked.
The beneficiaries, filled with gratitude, commended the club’s leaders for prioritizing their well-being and economic survival.
Martha Frimpong, a member of the club from Binsere, expressed, “The loan will go a long way to support our businesses.” She appreciated the flexibility in payback conditions, allowing them to concentrate on generating profits.
Victoria Owusu of Kunka echoed this sentiment, emphasizing the importance of economic empowerment to diversify Obuasi’s economy beyond the mining sector.
“The only way to diversify the economy of Obuasi is to empower residents economically, and that’s what the Appianin-Bonsec is seeking to do”, she stated.
SOURCE: SAMPSON MANU
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