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Accra-based Class FM reports that the initiative is aimed at helping her constituents undertake new businesses or reinvest in their existing businesses.
As part of the scheme, constituents are presented with flexible loan terms to be able to boost their businesses under less pressure.
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Ursula Owusu secures loans for over 1,500 constituents of Ablekuma West
Mrs. Owusu-Ekuful urged the beneficiaries to pay back the loans to enable others to also benefit from the scheme.
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She indicated that she has absorbed half of the interest on the loans taken by all beneficiaries in order to make repayment easier for them.
“I will urge those who think the monies are mine to eschew such thoughts and pay back the loan facility to enable others to benefit, too,” she said at the People’s Forum in the constituency on Sunday.
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Ursula Owusu secures loans for over 1,500 constituents of Ablekuma West
“I wish I had such money to have given out for free. Instead of the company’s initial 5% interest on the loan, I have decided to absorb half, hence the interest will be 2.5% aimed at reducing the difficulty in repaying the loan.”
Mrs. Owusu-Ekuful, who doubles as the Communications Minister, expressed hope that the scheme would be extended to many more constituents in the near future.
Meanwhile, officials from Innovative Microfinance Company also educated the people on how to access the loans.
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Ursula Owusu secures loans for over 1,500 constituents of Ablekuma West
In addition, the constituents were assured of a successful disbursement of the loans to each person on the scheme.