General News of Thursday, 1 April 1999

Source: --

Shares are not guarantees for loans - manager

Nyankuamasi Ahenkro (Central Region) 1st April '99

The manager of Nyankumasi Ahenkro Rural Bank, Mr Samuel D.Kwao, has emphasised that buying shares in financial institutions does guarantee automatic access to loans. For a shareholder to qualify for loans, he or she must operate an account with the bank, Mr Kwao explained to newsmen at Nyankumasi Ahenkro. The manager urged shareholders to refrain from seeking undue favours, because they embarrass managers and directors. He advised farmers who sell their cocoa to buying agents for fiscal cash to stop the practice, because it disqualifies them from enjoying bonuses paid by government to cocoa farmers and prevent their children from enjoying COCOBOD Scholarships. Mr Kwao urged farmers to save part of their money in their accounts with the banks to enable them get assistance when the need arises.