Public Agenda NewsPaperPublic Agenda NewsPaper
  • General News
  • Politics
  • Business
  • Health
  • Development Agenda
  • World News
  • Features & Opinions
  • Election watch
  • Editorial
Font ResizerAa
Public Agenda NewsPaperPublic Agenda NewsPaper
Font ResizerAa
  • General News
  • Politics
  • Business
  • Health
  • Development Agenda
  • World News
  • Features & Opinions
  • Election watch
  • Editorial
Search
  • General News
  • Politics
  • Business
  • Health
  • Development Agenda
  • World News
  • Features & Opinions
  • Election watch
  • Editorial
Follow US
Breaking NewsGeneral News

Leadership of Tumu Cooperative Union Endorses Warehouse Receipt System

Latifa Carlos
Last updated: February 14, 2020 6:20 am
Latifa Carlos
Share
3 Min Read
SHARE

The management of the Tumu Community Cooperative Union (TCCU) has expressed its readiness to embrace the Warehouse Receipt System Project (WRS). The leadership of the Union observed that the WRS presents real opportunities for the association to enhance the financial status of its members thereby improving their livelihoods.

At a training session organized at Tumu in the Upper West Region by the WRS Project of the International Finance Corporation (IFC) of the World Bank Group, the leadership of the Tumu Community Cooperative Union acknowledged that the WRS interventions will help them to control the default rate of loans granted to members by the Union.

The Board Chairman for the TCCU, Mr. Kodimah Issifu explained that members of the Union would no longer have the opportunity to divert their produce since the commodities would be stored in separate and secured warehouses. “This Warehouse Receipt System brings us an opportunity to expand our membership base and operations whiles helping us to reduce the loan default rate of because members can no longer divert their produce”, he emphasized.

Madam Aisha Batong Hor, the General Manger of the TCCU, on her part indicated that there are many opportunities with the WRS intervention that would be used to develop various products to serve the needs and aspirations of the union members. “We have already identified many products and services that could be developed to enhance the agribusinesses of our members as we also grow the Union’s agribusiness portfolio. 

The IFC Ghana WRS Project is being implemented in nine regions of the country with financial support from the Switzerland’s State Secretariat for Economic Affairs (SECO). It is a technical assistance and advisory services project aimed at setting up a well-functioning regulated WRS that is expected to facilitate an increased access to credit to farmers and the supply chain, linkage to structured markets and reduce post-harvest storage loses. This intervention focuses on supporting a well-functioning WRS as a necessary pre-condition for the successful operations of the Ghana Commodity Exchange (GCX). The project addresses WRS on a policy and regulatory level, system level, including technical advisory, training, capacity building and awareness raising for various stakeholders in the public and private sector.

IFC—a sister organization of the World Bank and member of the World Bank Group—is the largest global development institution focused on the private sector in emerging markets. IFC also works with more than 2,000 businesses worldwide, using our capital, expertise, and influence to create markets and opportunities in the toughest areas of the world. In fiscal year 2018, we delivered more than US$23 billion in long-term financing for developing countries. For more information, visit www.ifc.org.

By Publicagendagh.com

Share This Article
Facebook Whatsapp Whatsapp Email Copy Link Print

Latest News

Ablekuma North: EC to rerun Parliamentary Election in 19 Polling Stations
July 2, 2025
Mid-Year budget to clarify road contractor payments – Ampem Nyarko
July 2, 2025
 ISODEC Urges Citizens to Engage More in Local Governance Processes 
July 2, 2025
Mfantseman Youth Trained to Strengthen Local Governance Participation 
July 2, 2025
Government Reaffirms Commitment to Investment-Friendly Environment to Attract Development Financing
July 1, 2025
New UN report charts path out of debt crisis threatening global development
June 30, 2025
World Bank backs Ghana $360m to strengthen macroeconomic stability
June 30, 2025

You Might Also Like

Breaking NewsElection watchtop stories

GJA holds national and regional elections today

June 30, 2025
Breaking NewsBusinesstop stories

PURC announces 2.45% increase in Electricity tariffs from July 1

June 26, 2025
Breaking NewsBusinesstop stories

Iran cannot unilaterally shut Strait of Hormuz – NPA boss

June 23, 2025
Breaking NewsBusinesstop stories

Israel-Iran war: Fuel prices likely to rise in July – COPEC

June 23, 2025

About Us

Public Agenda is fou­nded and owned by Pu­blic Agenda Communic­ations.

Public Agenda was founded as a public interest Me­dia entity. Its Visi­on is to contribute to building a well-i­nformed society where accurate informati­on dissemination is the cornerstone of a democratic, just and equitable society.

Its mission is to inform, guide and bui­ld responsible citiz­enship and accountab­le decision making and strive for excell­ence in the media in­dustry. Public Agenda Communications is managed by a Board of Directors.

Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?