Kumasi, Nov. 3, GNA- The Ashanti Region Co-operative Transport Union made a net profit of 3.091 million cedis from October 1999 to December 2002.

The audited accounts of the Union showed that it earned revenue of 20.5 million cedis while its expenditure stood at 17.4 million cedis. Presenting the accounts of the Union at its first general meeting in Kumasi at the weekend, Mr Stephen Ayebeng Adjei of the Department of Co-operatives said the Union had 1.3 million cedis as its share capital. He expressed regret at the low capital base of the Union and advised the member-societies to increase their shares to put the Union on a sound financial footing.

Mr George Grant Agyapong, the Ashanti Regional Co-operative Officer, said people have the erroneous impression that the Co-operative sector is a place to amass wealth, particularly in the transport sector. He asked them to discard that notion that there is now stiff competition in every sector of the economy and must back up if they do not want to be left behind.

Mr Agyapong told them that the co-operative transport sector, if well organised and managed like a business venture, could become very successful to rub shoulders with the big transport companies.

Superintendent Augustine Gyenning, Ashanti Regional Head of the Motor Traffic and Transport Unit (MTTU) of the Ghana Police Service, spoke about the high spate of road accidents in Ashanti Region and said from January to September, 305 deaths were recorded in road accidents in the region.

He blamed this on indiscipline and the formation of numerous transport associations in the region.