Public urged to cultivate savings habit

Takoradi, May14, GNA - Mr Martin Yaw Abofra, Manager of the Takoradi Market Circle branch of the Ghana Commercial Bank, on Tuesday urged the public to cultivate the habit of savings to support national development programmes.

He was speaking at a talk-shop organised by the Shama-Ahanta East Metropolitan Area Teachers' Support Scheme (STESS) as part of the 25th Anniversary celebrations of the scheme at Takoradi. It was under the topic: "Micro-Financing-A Relief to Educational Worker".

Mr Abofra said poor saving habit was a contributory factor to the under-development of the country.

He urged the teachers to increase their savings with the scheme and the banks in order to create wealth to meet their needs and support national development.

Mr Abofra said poor response of the banks to their customers in financial distress in the past, resulted in the establishment of micro-finance institutions such as money lenders, credit, loans and welfare unions.

He said it was now easier to obtain micro financing from the banks because of increasing competition