The Manager of the Winneba-based ILO Edwumapa Co-operative Credit Union, Kingsley Arko-Sam, has advised graduates of Vocational and Technical institutions to cultivate strong savings habit to win the trust and confidence of financial institutions. Mr Arko-Sam was speaking at a graduation ceremony organized by the leaders of the Winneba Branch of the Ghana Hairdressers and Beauticians Association (GHABA) at which 38 trained hairdressers and beauticians passed out.
He said many young entrepreneurs in the country need financial assistance from credit unions and banking institutions to promote their businesses but lack the desire and driving force to save with such institutions. Mr Arko-Sam said the best way self-employed people can promote their businesses is to adopt or cultivate the habit of regular savings, adding that at least at the end of each day’s business they should be able to save not less than GH˘5.
He has therefore urged the young graduates to embrace the credit union concept to enable them to obtain financial support to promote their businesses. Mr Arko-Sam explained that the ILO Credit Union is part of the World Bank’s Poverty Reduction Strategy.
