The Edge Credit Union opens for business
A new SME financing firm that seeks to provide credit facilities to inhabitants in Greater Accra has been opened at Madina Social Welfare in Accra.
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The Edge Credit Union, a subsidiary of business consulting company, Tarragon Edge, will also provide coaching and mentorship for young women in skills training and other vocations.
At a ceremony in Accra to officially open the facility, the Lead Consultant at Tarragon Edge Ltd, Dr Genevieve Duncan Obuobi, noted that the zeal to provide low interest, accelerate the skill sets acquired by young girls in communities was the key motivation to establish the union.
“The vision to establish an ecosystem that will provide tailor-made support, rigorous coaching and mentorship targeted at women is what has brought forth this union.
About 65 per cent of credit will be offered to women-led businesses including those engaged in trading and vocational activities. We hope to set up in communities, build the capacity of women with innovations to fend for themselves," she noted.
Dr Obuobi added that The Edge Credit Union seeks to serve as the catalyst for women empowerment and development in their communities. She further disclosed that customers can open different accounts in the credit union, including accounts for SMEs, lifestyle accounts - to cater for one's lifestyle choices, kiddie accounts - for children from six months old, EduSave account - to seek higher education, as well as personal loans.
The Managing Director of Tarragon Edge of Derek Hammond said many Ghanaians have brilliant ideas that fail to take off. He said without little financial support, such skills and ideas cannot be realised.
Mr Hammond said the union exists to be the primary driver in accelerating micro/small and medium scale businesses. "We are geared towards making people financially independent. Our aim is to hone skills of young women to establish and grow viable businesses, and improve their lives," he stated.
One-stop
The Director of Marketing of Graphic Communication Group Limited, Mr Franklin Sowa, entreated Ghanaians to patronise the facility and make it their one-stop avenue for financial aid and management.
"I know the brain behind this Credit Union very well, her business acumen and entrepreneurial skills. So, I can assure you that this is the best place where locals in the community can access finance and also save," he stated.
The Regional Manager of the Ghana Co-operative Credit Union, Mr Daniel Kofi noted that credit unions are the backbones of communities in the country. "There are over 495 credit unions in the country, and this is the 136th in Greater Accra. We provide finances for various kinds of businesses,”
Credit unions, apart from the provision of loans to locals in the community, also provide social services such as skills and vocational training to members in the community. He urged Ghanaians to repose confidence in these credit unions to help improve their livelihoods.