Atebubu: The Atebubu branch of the Brong-Ahafo Catholic Cooperative Society for Development Limited (BACCSOD) in the Bono East Region has announced the provision of financial support to 114 farmer and trader groups to enhance their economic activities. These beneficiaries are located across 19 communities, including New Konkrompe, Jato Zongo, Abour, Akokoa, Famfour, Sabidi, Kumfia, Fakwasi, Kokofu, and Garadima, among other farming communities.
According to Ghana News Agency, Mrs. Alice Kupour, the General Manager of the Atebubu branch of the BACCSOD, shared this development during the Ninth Annual General Meeting held in Atebubu. She encouraged customers to utilize the Mobile App and USSD Codes, highlighting that these tools allow for convenient banking transactions such as withdrawals and deposits from home. Mrs. Kupour also urged members to increase their shares to access credit facilities.
The branch reported notable achievements in member deposits, loans, investments, and net surplus for the 2023 to 2024 financial year, with a comparative increase in assets from 2020 to 2024. Mrs. Kupour praised the management and staff for their dedication and hard work and urged them to continue contributing to the growth and development of BACCSOD.
In addition, the branch provided financial assistance totaling GH29,900 to individuals and organizations. An amount of GHC121,387.52, representing 15 percent of their net surplus, has been proposed for dividend payments for the 2024 financial year. However, Mrs. Kupour noted challenges such as capitalization and bad loan recovery, which are limiting the branch’s ability to expand and undertake capital projects.
Despite these challenges, the Atebubu BACCSOD plans to enhance the capacity of staff, board, and committee members, improve internal controls to minimize risk, and implement an effective loan recovery program.
Mr. Mathew Alignoi, the Atebubu branch Manager, expressed gratitude to the shareholders and customers for their loyalty and encouraged local residents to conduct business with the institution. He also advised mobile bankers to maintain commitment and transparency in their operations.
In an interview, Mr. Emmanuel Gyan, the Secretary of the Board of Directors of the Atebubu branch, commended the institution’s excellent customer care and service, which has bolstered trust among customers and shareholders. He urged people in farming communities to adopt a saving culture and engage in business with BACCSOD.