BY: Kwadwo Ofosu Baffoe | ignewss — Techiman, Ghana
The Chief Executive Officer (CEO) of Abosomakotere Cooperative Credit Union, Mr. Prosper Afobu, has urged Ghanaians to develop a strong culture of saving and investing locally as a means of achieving financial security and promoting national economic growth.
Speaking in an interview with ASTA News, Mr. Afobu stressed that prudent financial management is essential for both individuals and businesses. He encouraged the public to cultivate the habit of saving regularly to improve their financial stability and prepare for future opportunities and unforeseen circumstances.
According to him, savings do not only provide financial security but also create opportunities for investment, entrepreneurship, and wealth creation.
Mr. Afobu further encouraged Ghanaians to invest in local businesses and productive sectors of the economy instead of travelling abroad in search of greener pastures.
He noted that increased local investment would stimulate economic growth, create employment opportunities, and contribute significantly to national development.
Touching on developments within the credit union sector, Mr. Afobu disclosed that the Bank of Ghana is considering assuming the regulatory oversight of large credit unions with assets exceeding GH¢60 million.
He explained that the proposed move is intended to strengthen regulatory supervision, improve corporate governance and provide greater protection for members’ funds.
According to him, enhanced regulation would increase transparency and accountability within the sector while boosting public confidence in credit unions as safe and reliable financial institutions.
Mr. Afobu expressed optimism that the planned reforms would contribute to a stronger and more resilient financial system capable of supporting Ghana’s economic development.
He therefore urged individuals, businesses, and institutions to prioritise saving and investing in Ghana, emphasising that building wealth begins with disciplined financial habits and confidence in local financial institutions.
SOURCE: www.ignewss.com