Atwima Nwabiagya North MP Frank Yeboah Rolls Out GH¢1,000 Interest-Free Loan Scheme for Market Women
Hon. Frank Yeboah, the Member of Parliament for Atwima Nwabiagya North, has taken a major step to support economic development at the grassroots level with the launch of a new loan scheme called “Adwadifuo Anidaso” (Hope for Traders).
The initiative, which began at the Atwima Koforidua Market Square, saw twenty market women receive GH¢1,000 each as start-up or boost capital for their businesses. In total, GH¢20,000 was disbursed under the first phase of the program.
Speaking at the event, Hon. Frank Yeboah explained that the “Adwadifuo Anidaso” is a non-profit loan initiative aimed at supporting market men and women in the constituency to expand their trading activities without the burden of interest.
“This is a revolving interest-free loan. Each woman will pay GH¢50 per week, which adds up to GH¢200 a month. Once the first group pays back, another group will benefit. This cycle will continue so that many others will also get support,” the MP stated.
Hon. Yeboah revealed that the program will be rolled out in batches to cover all markets in the constituency. He advised the first group of beneficiaries to take their repayments seriously to allow the fund to grow and benefit others.
“I urge you all to use this money wisely for the purpose for which it was given. Don’t spend it on unproductive things. Grow your businesses and be committed to paying back so others can also get the opportunity,” he emphasized.
The MP also assured market traders who didn’t benefit from the first phase that more disbursements would follow, and everyone would eventually be included.
“Do not be discouraged if you were not part of the first twenty. This is a long-term plan. Your turn will surely come,” he promised.
The beneficiaries could not hide their excitement and gratitude. Some expressed how the loan would help them restock their goods and meet customer demands.
“We thank Hon. Frank Yeboah for remembering us. This money will help us a lot, and we promise to repay it so others can also benefit,” one market woman said joyfully.
The Adwadifuo Anidaso initiative is seen as a strategic intervention to enhance local trade and reduce poverty by supporting the backbone of the local economy – market women.
