Foundation gives soft loans to 20 women
Tobinco Foundation, a non-governmental organisation (NGO), in collaboration with the Abii National Savings and Loans Company, is to give soft loans to 20 women in Accra.
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For a start, each beneficiary is expected to receive an amount of GH¢1000 to expand her business.
Known as the ‘Tob Boafo’ Micro Credit and Loans Scheme Project, the move is to help the beneficiaries who are mainly widows and underprivileged to earn a livelihood as well as improve their living standards. It also seeks to strengthen them financially.
In view of that, a two-day training workshop has been organised for the beneficiaries to be able to utilise the money that will be given to them. Beneficiaries of the loan scheme were given training on business management and work ethics, entrepreneurship and how to identify and take advantage of business opportunities.
The workshop also gave participants an opportunity to ask questions, interact and share ideas about their businesses and ways to improve upon them.
Be time conscious
In a presentation, Mr George Bentil, a resource person from the foundation, admonished the participants to be time conscious in their daily activities and businesses.
As entrepreneurs and small-scale business owners, he charged them to be innovative and add value to their products to remain relevant on the market.
“We want members of the foundation to be unique in their approach to doing business. You must always speak to your customers politely and ensure that you take their concerns into consideration,” he said. Mr Bentil also advised them to do their best to expand their businesses.
“You must learn to sacrifice and invest your time and energy in the business and ensure that it grows rapidly,” he stressed.
How to service loans
The Head of Business at the Abii National, Mr Abdul-Malik Bukari, also educated them on how to service their loans. According to him, the repayment period was six months, with an interest rate of 15 per cent per annum.
He also advised the beneficiaries to engage in businesses that would give them a lot of profit to be able to pay back their loans.
