The Ghana National Association of Teachers, has launched a Vehicle Loan Scheme in Kumasi under which members who contribute to the Teachers Fund could arrange to own their personal vehicles at relatively reduced prices. GNAT is currently negotiating with government for a tax rebate on the targeted vehicles so as to make them affordable for more teachers to benefit from the Scheme. In an address, the President of GNAT, Joseph Adjei, stressed the resolve of the Association to continue to initiate programmes and projects that would better the well-being of its members.
He disclosed that currently, the GNAT Teachers Trust Fund which is 10 years old now comes second only to the SSNIT in terms of membership and contributions nationwide. Mr. Adeji assured that the GNAT Vehicle Loans Scheme is among numerous programmes being developed to ensure better retirement benefits for its members. It has also been providing financial support to alleviate the economic difficulties of some members.
The Chairman of the GNAT Teachers Trust Fund, Ofori Agyei, explained that interested members can receive an amount of loan ranging from one thousand Ghana cedis to 10 thousand Ghana cedis to buy any selected vehicles of their choice and re-pay within a maximum of seven years. He said the targetted beneficiaries are mostly members in the top ranks who should be in a position to pay off the loan before the compulsory retirement age. According to Mr. Agyei an arrangement would also be made to enable those who cannot afford brand new cars to acquire imported second hand ones.
He disclosed that GNAT has already sold out 51 such vehicles to interested members. In an address read for him, the Ashanti Regional Minister, Emmanuel Owusu-Ansah commended GNAT for its ingenuity towards the members’ welfare.
