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Small scale financial institutions ask to be loyal to their customers
 
Posted on: 09-Sep-2012         Source: GNA
 
 
 
Mr Patrick Somiah Ehomah, a transport owner in the Jomoro District of the Western Region, has urged small scale financial institutions to stop bolting with their clients money since the action could discourage people from saving.

Mr Ehomah said this when he chaired the opening of a branch of the “God Have Mercy Foundation,” a private investment saving and loans company at Half Assini on Friday.

He said, recently, a savings and loan company operating in the Jomoro District bolted with huge sums of money belonging to its clients and had since not been found.

Mr Ahomah said the situation left most of the people in the area bankrupt and therefore urged such companies to be honest with their customers to build their trust in saving with the banks.

The Chief Executive Officer of the Company, Madam Elizabeth Tawiah, said the savings company, to operate in the Central and Western regions, would provide loans for customers who saved with it for three months.

Over 75 people opened accounts with the bank on its first day of operation with between 50 and 100 Ghana cedis.