Kumasi, April 25, GNA – The Ashanti Regional branch of the Civil Servants Association Savings and Loans Scheme mobilized GH¢1,147,320 as at 31st December 2007.
The figure represents an increase of 266.9% of the 2006 figure that stood at GH¢312,694.
MR. Henry Gyimah, chairman of the scheme, who was speaking at the Annual General Meeting of the scheme in Kumasi on Friday, said an interest of 5.9% was being paid on members’ contribution.
Mr. Gyimah said members’ premium contributions that were deducted at source at the Controller and Accountant General Department had also been increased from GH¢4.00 to GH¢6.00.
Loans amounting to GH¢1,079,072 had been granted to members and that management had decided to increase the interest on loans from 7% to 10%. Mr. Joe Issachar, Head of Civil Service, said government was addressing constraints faced by civil servants and is setting up programmes to build capacities of the civil service.
Source: GhanaWeb
