WWBG moves to promote savings culture among children

The Women's World Banking Ghana (WWBG) is helping to promote the savings culture among children with the opening of free bank accounts to new born babies at the Ridge and Adabraka hospitals in Accra.

The GH¢100 each account is to be held in trust for the children by both the bank and parents until the children are old enough to access them.

Per an arrangement, parents of beneficiary children can only make partial withdrawal after six months of being in operation.

The Chief Executive Officer (CEO) of the bank, Madam Charlotte Lilee Baidoo told the Daily Graphic on the sidelines of the presentation of a Rambo 1,000 litre water tank to the A1 Mother and Baby Ward of the Komfo Anokye Teaching Hospital in Kumasi last Monday.

The presentation followed a need assessment by the bank recently on which area it could provide support to the hospital.

The water tank is to serve as a backup to the ward and make water easily accessible to pregnant and nursing mothers.

The bank, affiliated to the Women's World Bank in the USA, has embarked on a similar exercise at the Tema General Hospital and other parts of the country.

Mrs Baidoo said the registration of infants was to cure the lack of savings culture malaise and help them to build on it when they grow.

The bank was established some 32 years ago to empower women and make resources available to them to enhance their businesses, was also given a license to operate a savings and loan outlets.

Mrs Baidoo said plans were afoot to build on its previous successes and make cash available to every individual to grow the economy.

The Head of Department (HOD) for the unit, Dr Gerald Asubonteng, expressed gratitude and promised to put the water tank into good use.