Mr Victor Donkor, Eastern Regional Director of Controller and Accountant General's Department, has said a major problem facing most financial institutions was the repayment of loans granted to customers.
In a speech read on his behalf at the inauguration of Unicorm Happy Investment Limited, a micro-finance and investment institution at Begoro, Mr Donkor appealed to customers who would be benefiting from loans granted by the company to do their best to repay promptly.
He said micro financing was something that was being embraced in most developing countries, especially in Africa adding that Ghana as a developing country could not be left out.
Mr Donkor called for efforts to enable the company to succeed at Begoro since it is friendly to low income earners and small to medium scale
businesses.
He said micro financing was the secret behind most developing countries like Malaysia and Singapore, which were able to increase the per capital income of their people.
Mr George Afful, Director of the company, said the company had taken it upon itself to ensure that the average rural folks be motivated to learn the
essence of putting money somewhere for their future and most importantly be self reliant when it comes to finances.