Group photo of beneficiaries of the intrest-free loan facility
Electrochem Ghana Limited (EGL), a salt production company under McDan Group of Companies has given an amount of GH¢3,000,000.00 interest-free loans to women entrepreneurs in Ada to expand their various businesses.
This was done through the company’s Community Support Scheme established to empower entrepreneurs in the various communities of Ada.
Madam Dzigbordi K. Dosoo, Project Consultant for the company told the media that there are a lot of livelihood projects in Ada but lack of financial and educational support, coaching, counselling and business strategic planning have made entrepreneurs unproductive.
She said Electrochem has the aim of growing together with entrepreneurs in the communities to change the look of Ada through the community support scheme.
She added that research revealed that women are multipliers of money hence the need to establish a support Scheme for the traders in Ada; “We thought our first point in our social responsibility activities was first to take the women and give them loans, just simple support funds to run a trading business. So we selected all the communities and asked them to bring lists.
“We screened the lists and selected the first batch who will not just undergo training but will get financial support, undergo full training on the skills needed to become entrepreneurs”.
Madam Dosoo said after the skills and financial empowerment, Electrochem team would consistently monitor the business performance of the beneficiaries to give them continuous support until their businesses firmly take-off.
“So our dream is to make Ada prosperous and highly developed so that when people who are looking for their number one resource come to the state, they can see the impact of what the salt has done for them.
“Our strategy is about Community first, then commercial follows,” she explained.
Naana Adiki Manyeyo Adi I, Queen Mother of Adibiawer Clan who is also the Head of Cooperate Social Responsibilities for the company after receiving the check from the company appealed to the women not to default in servicing their loans.
Naana Adi told the Ghana News Agency in an interview that over 1,000 applications were received but the company screened and selected the first 200 women to be given the loans.
She said the next batch will follow until every woman entrepreneur on the land of Ada gets empowered irrespective of the work they do.
They would be trained in counselling, business networking, financial management and others to help them know how to handle their finances.
Some of the beneficiaries who spoke to the GNA expressed excitement over the help from Electrochem and thanked Mr. Daniel Mckorley for the loan.
Electrochem Ghana Limited barely seven months after taking over the Songor Lagoon has undertaken several social responsibility activities in Ada including the weekly provision of potable water to deprived communities, assisting over 50 pre-SHS students in buying some materials for school among others.