Sekondi NDC PC shocks traders with interest-free loans.

Sekondi NDC PC shocks traders with interest-free loans.

The National Democratic Congress (NDC) parliamentary candidate for Sekondi Constituency, Lawyer Blay Nyameke Armah, has sent shocks down the spine of many traders following his decision to offer them interest-free loans.

He started piloting his ambitious program of establishing women’s banking project in Sekondi.

A promise, he believes, he can keep, and therefore has Kickstarted an offer of interest-free loans to about 400 women made up of traders in and around the Sekondi Central Market.

Each trader, who applied for financial assistance through the scheme, received an interest-free loan ranging from GHS3,000 to GHS7,000 to be paid within five months.

Speaking to journalists at the handing over of the second batch of the interest-free loan packages, the NDC parliamentary candidate for Sekondi, Lawyer Blay Nyameke Armah said women remain crucial in any family and the support was to give them some foundation in their business development.

Lawyer Nyameke Armah Blay noted
“If you need to build a project, then you need a good foundation. Realising that the economy of Sekondi is basically fish trading, we decided to ensure a good foundation, which is enabling the market women to have a very good capital base. So that when NDC comes to power, and we are able to renovate or redevelop the Sekondi Market, the people in Sekondi Market would already have a very stable capital to enhance our economic activities.”

“This will also empower the women because, women play pivotal role in their homes,” he stated.

Lawyer Blay Armah explained that the soft loan offered by his office for the development of trading activities by the women, shows the commitment of the NDC towards the welfare and well-being of women.

He said the promise to create a Women’s Bank by the party will manifest upon assumption of office.

“Their commitment to pay back the interest-free loans is what has encouraged me and the NDC to continue this scheme. One of the policies of our flagbearer, John Mahama is to establish Women’s Bank. We want our flagbearer to know that we in Sekondi have already started this women’s banking. The end product is for the NDC to help establish a Sekondi Community Women’s Bank to benefit every woman that is trading in Sekondi and as well as expand it to include the men,” he stressed
According to the aspiring MP, he is motivated by the traders’ hard work and truthfulness in repaying the loans given to them earlier to make the scheme rotational

“Regarding the repayment in the first batch of soft loans, it was very fantastic, and I couldn’t believe it. This is because, we all thought that we were going to have to chase them to repay the loans. But, by the time the collectors get to them, they would have them deposited with the group leaders and so the collectors just pick the money up to the Bank.”

“In the first batch of loans we gave them, which is still ongoing, each beneficiary received GH2,000 and when you finish repaying, and you’re coming for your second loan after assessment, we increase it to GH3,000 and subsequently GHS5,000 and GH7,000,” he underscored.

Sophia Nketsia, one of the beneficiary traders at Sekondi said the aspiring MP and parliamentary candidate of the NDC will secure their mandate on December 7th following the help being offered to trader.

She stressed that Mr. Blay’s interest-free loan had saved the women traders from high-interest rates and delays in securing mainstream Bank loans.

“I suffered so much when I tried to secure a bank loan some time ago. In addition to the high-interest rate, I had to queue for three weeks before I was registered for the loan. However, Lawyer Blay’s interest-free loan is also stress-free. Immediately you complete your form, and then you receive your money.

“We thank God for his life and the support, because we have seen several parliamentary candidates in Sekondi before, but he is unique and surprising. I call on all those benefiting from the loan to reciprocate by voting for him to come and do more for us women traders.”

Lawyer Blay has hinted that the Sekondi NDC has initiated moved to implement another programme which will soon loan out money to help commercial drivers fuel their vehicles and work to pay later.

“We want to support all sectors of our local economy to improve Sekondi ” he said.

By: Zambaga Rufai Saminu | | Ghana

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