REPAY LOANS ON TIME TO KEEP US IN BUSINESS (PAGE 18)

A Board Member of the First National Loans Company (FNLC), Mr Nicholas Akunor, has advised borrowers to ensure that they repay their loans on time to keep financial institutions in business.
At an awards ceremony during which some loyal customers of the company were honoured, Mr Akunor said the key role played by the country’s financial sector in its economic growth called for sustained efforts to inculcate the habit of savings among the people.
He said the FNLC, which had branches in Accra, Techiman, Elmina, Tarkwa, Obuasi and eight other towns in the country, hoped to open more branches in Wa, Bolgatanga, Cape Coast and Koforidua.
Mr Akunor advised financial institutions to meet the expected impact of the global recession and explained that most Ghanaians who were working outside the country might be affected with the recession and therefore might return home.
He said such people would need to be assisted by local financial institutions to enable them to set up businesses and contribute their quota to the development of the local sector.
The Tema Branch Manager of the FNLC, Mr Sammy Quarshie, recounted the challenges facing the institution and said they included the negative attitude of defaulting customers, stressing that those who were able to repay their short and long-term loans affected the company’s operations positively.
He commended the award winners for their loyalty and urged them to continue to repay their loans to enable the company to meet the needs of others who needed the loans to build their businesses.
A representative of the award winners, Madam Faustina Mensah, expressed appreciation to the company and pledged that they would continue to be loyal customers of the company and commended the company for its relaxed and realistic relationship with customers.