A new SME financing organisation that seeks to provide credit facilities to inhabitants in Greater Accra has been opened at Madina Social Welfare in Accra.
The Edge Credit Union, a subsidiary of business consulting firm Tarragon Edge will also provide coaching and mentorship for young women in skills training and vocation.
At a brief but colourful ceremony yesterday at Madina in Accra to officially open the facility, the Lead Consultant at Tarragon Edge Ltd, Dr Genevieve Duncan Obuobi noted that the zeal to provide low interest, accelerate the skill sets acquired by young girls in communities was the key motivation to establish the Union.
“The vision to establish an ecosystem that will provide tailor-made support, rigorous coaching and mentorship targeted at women is what has brought forth this union,” she stated. She revealed that 65 per cent (65%) of credit will be afforded to women-led businesses including those engaged in trading and vocational activities.
“We hope to set up in communities, build the capacity of women with innovations to fend for themselves,” she noted.
She added The Edge Credit Union seeks to serve as the catalyst for women empowerment and development in their communities.
She further disclosed that customers can open different accounts in the credit union, including accounts for SMEs, lifestyle accounts – to cater for one’s lifestyle choices, kiddie accounts – for children from six months old, EduSave account – to seek higher education, as well as personal loans.
Managing Director of Tarragon Edge
The Managing Director of Tarragon Edge of Mr Derek Hammond said many Ghanaians have brilliant ideas that fail to take off. Without a little financial support, such skills and ideas can’t be realised. He said that The Edge Credit Union exists to be the primary driver in accelerating micro/small and medium scale businesses. “We are geared towards making people financially independent. Our aim is to hone skills of young women to establish and grow viable businesses, and improve their lives,” he stated.
Franklin Sowa
The Director of Marketing of Graphic Communication Group Limited, Mr Franklin Sowa who provided some funding to set up the union, entreated Ghanaians to patronise the facility and make it their one-stop avenue for financial aid and management. “I know the the brain behind this Credit Union very well, her business acumen and entrepreneurial skills. So, I can assure you that this is the best place where locals in the community can access finance and also save,” he stated.
Regional Manager
The Regional Manager of the Ghana Co-operative Credit Union, Mr Daniel Kofi noted that credit unions are the backbones of communities in the country. “As a non-bank financial institution, there are over 495 credit unions in the country, and this is the 136th in Greater Accra. We provide finances for various kinds of businesses,” he stated. He added that credit union, apart from the provision of loans to locals in the community, also provide social services such as skills and vocational training to members in the community. He urged Ghanaians to repose confidence in these credit unions for the betterment of their livelihoods.
Source: Kwame Larweh
Graphic Communications
