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Women
appeals to be given opportunity to renegotiate loans
Kwamoso (E/R), March 18, Ghanadot/GNA - Small scale traders at
Kwamoso who defaulted in the payment of women micro-credit loans
from the Akuapem Rural Bank on Wednesday appealed to the bank to
give them the opportunity to renegotiate the repayment schedule.
They pleaded with the bank officials to stop threatening them
with police arrest because it is frightening and make them
abandon their homes, husbands and children when they hear that
the bank officials are visiting the community.
Speaking to the Ghana News Agency, Mrs Mary Yirenkyi, one of the
defaulters, said she borrowed GH C300 from the Women
Micro-credit Loans scheme of the bank and was expected to pay
back a total of GHc400 within 16 weeks.
She said the repayment was done weekly and so she used her loan
to purchase kerosene and firewood in large volumes, which she
sold and was paying back the loans weekly.
However, at the end of the sales, she realized that she had lost
part of the capital.
Mrs Yirenkyi said she was expected to finish paying back her
loan with the interest in January this year but was able to pay
only GHC 330.
A senior official of the bank who agreed to talk on condition of
anonymity said the field officers of the bank who were in charge
of the facility had not reported to the bank that they were
having difficulties in the repayment of the facility.
He said the bank was therefore not aware that defaulters were
being harassed with the police.
The official declined to have any discussion on the interest
rate of the facility under the Women Micro-Credit Scheme of the
bank because bank rules do not allow officials of the bank to
discuss that with journalists under any circumstances.
GNA
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