Womens World Banking Make Profit

Accra,(Greater Accra) 24 Oct. The Women's World Banking Ghana Savings and Loans Company Limited (WWBG), made a profit of 6.3 million cedis last year as against a loss of 23.7 million cedis in 1995. This was announced by Mrs Eleanor Arthur, Chairperson of the Board of Directors of the company at its annual general meeting in Accra today. She said savings mobilisation of the company rose from 755.4 million cedis in 1995 to 1.3 billion cedis last year reflecting an increase of 43 per cent. Mrs Arthur said 1,071 loans amounting to 968.7 million cedis were disbursed last year as compared with the previous year's figure of 507 loans totalling 245 million cedis, while a repayment rate of 85 per cent was achieved last year. "This was slightly below our minimum target of 95 per cent and every effort is being made to improve upon the performance", she added. Mrs Arthur said her company would continue to give support to micro and small-scale entrepreneurs, particularly women, by raising their living standard through business training, network opportunities and provision of savings and credit facilities and productive resources for sustainable development. She added that it is the vision of the company to open branches in all the 10 regional capitals by the year 2002 which will lead to a fully-fledged bank to inculcate the culture of savings in the company's clients.