Banks Must Promote Education - Dr Nikoi

Gomoa Dawurampong (Central Region), 10, Oct. A former Governor of Bank of Ghana, Dr Amon Nikoi, has called on commercial banks to initiate programmes to promote education in the country. Dr Nikoi said education has become so expensive that without the support of financial institutions it will be difficult for many parents, especially those in the rural areas to send their children to higher institutions. He was addressing the 12th annual general meeting of Akyempim Community Bank at Gomoa Dawurampong in the Central Region. Dr Nikoi commended the Akyempim bank for instituting an education loan scheme to assist parents who need help to send their children to school. He appealed to parents in the area to take advantage of the loan to send their children, especially girls, to senior secondary schools and beyond. The chairman of the board of directors of the bank, Mr E.F. Anno, said the bank made a net profit of 10.4 million cedis in 1996 as compared to 9.1 million cedis in 1995. Mr Anno said the bank granted loans and advances worth 275.4 million cedis to 515 customers last year out of which 59.6 million cedis went to 251 students to further their education. He said 13 girls were provided with sewing machines, hair dryers and carpentry tools, and two boys were assisted to learn welding. The vice-chairman of the board, Col K.K. Nyame (Rtd), advised parents not to allow children below the age of 18 to represent them at the bank's general meetings. Eight people and three organisations were awards for being good customers.