Dormaa-Ahenkro: Mr Dominic Adomah Ameyaw, the Dormaa Central Municipal Chief Executive in the Bono Region, has called on the Brong-Ahafo Catholic Cooperative Society for Development (BACCSOD) to enhance the growth of local businesses to facilitate rapid socio-economic development. He acknowledged the significant contributions of BACCSOD in positively impacting business growth and economic advancement.
According to Ghana News Agency, Mr Ameyaw made this appeal during the Annual General Meeting (AGM) of BACCSOD held in Dormaa-Ahenkro. He urged the Board of Directors (BODs) to show empathy towards customers who are unable to repay their loans. The meeting was attended by staff, shareholders, cooperatives, and customers of the society.
Mr Ameyaw also encouraged the BODs to improve the working conditions for the staff and motivate them to perform diligently. Mr Kwame Appiah, the Board Chairman of BACCSOD, assured that the deposits, savings, investments, and funds of customers and shareholders are always secure. He expressed concerns about inflationary pressures, regulatory changes, and economic uncertainties but noted that BACCSOD has remained resilient, responsive, and resourceful.
Despite the challenges, Mr Appiah highlighted a significant increase in the society's total assets and deposits, indicating that customers view BACCSOD as not just a financial institution but a trustworthy partner in their journey towards financial independence. This reflects the confidence that customers have in the society.
In his welcoming address, Mr Emmanuel Adu Agyemang, the Board Secretary of BACCSOD, emphasized that the AGM is a crucial event that allows for the assessment of the society's performance over the past year. It also provides an opportunity to review the stewardship of the Board and Management and make key decisions to shape the society's direction. Despite economic uncertainties and regulatory challenges, BACCSOD continues to stand strong.
Mr Agyemang stated that through prudent management, innovation, and collective effort, the society has achieved positive strides in financial performance, membership growth, and community development impact. BACCSOD remains committed to doing more.
The Reverend Father Raphael Amoako Tawiah, the BACCSOD Diocesan Manager, explained that the idea to establish the society in Dormaa Ahenkro was conceived by the late Reverend Father James Kwadwo Owusu in 1973, with the vision of alleviating poverty. The society, now 47 years old, has 81 offices in the Bono Region and employs more than 400 staff.
