Ursula Owusu absorbs 50% interest on loans for her constituents


The Member of Parliament for Ablekuma West, Ursula Owusu-Erkul, has met a section of her constituents to respond to queries on a loan facility she instituted last year.

According to the legislator, over 1500 people have benefited from the facility aimed at helping them to undertake new businesses or reinvest in their existing businesses, among others.

She said “the loan scheme forms part of my initiative to help the constituents expand and establish their businesses through very flexible loan terms.”

She has therefore admonished the people to pay back the loan facility to enable others to benefit from the scheme.

Instead of the company’s initial 5% interest on the loan, the MP and Communications Minister decided to absorb half hence a 2.5% interest aimed at reducing the difficulty in repaying the loan.

“I am optimistic that, the number of recipients would increase in a short period, depending on how quickly the beneficiaries pay the loans back,” she said.

Officials from the Innovative Microfinance Company educated the people on how to access the loans and assured us of a successful disbursement of the fourth batch.

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