Some 100 women entrepreneurs in the Obuasi municipality have been provided with interest free loans by the Appianin-Bonsec fun club, a social group based in Obuasi.
The total amount GHS100,000.00 (One hundred thousand Ghana Cedis), which was presented at a short but colourful ceremony in Obuasi by the group as part of its empowerment program was to support businesses of the women.
Conceived in May 2022, the club is an initiative by two businessmen; Joseph Bonsu (Bonsec) and Kofi Appianin Ennin who came together to form the social group in an attempt to find solutions to the worrying unemployment situation in the town.
According to the Club’s President Kofi Appianin Ennin each beneficiary will get Gh1000 which will be expected to be paid in 5 months’ time.
He said “As a group, we understand the challenges our women go through and judging from their role in the home, we decided to provide them with this interest free loans to cushion them”.
This disbursement comes on the heels of a recent loan disbursements by the club to some 50 women in the Obuasi who were able to pay off within the stipulated period. This according to Mr. Ennin motivated them to come out with the second tranche.
The President of the club talked about the benefits of women empowerment. He said women’s role in the family cannot be discounted hence it was important to resource them to be able to dependent and contribute significantly to the home.
He charged residents of Obuasi to beat down on their expectations about AngloGold Ashanti. He said there was the need to focus on diversify the economy of Obuasi through other means other than focusing on the Obuasi mine.
The beneficiaries were full of praises for the leaders of the club for prioritizing their wellbeing and survival.
Martha Frimpong, a resident of Binsere and a member of the club said the loan will go a long way to support their businesses. She said the payback conditions were flexible enough to make them pay back and concentrate on making profits.
Victoria Owusu of Kunka on her part bemoaned the overreliance on AngloGold Ashanti. She said the only way to diversify the economy of Obuasi to empower residents economically and that’s what the Appianin- Bonsec is seeking to do.