GIZ Ghana has presented 10 laptops and accounting software to Ghana Cooperative Susu Collectors Association (GCSCA) to enhance its operations, particularly for reports consolidation and monitoring.
The package, valued at GHS100,000.00, forms part of GIZ Ghana’s Financial Systems Development component of the Programme for Sustainable Economic Development with funding from the German Federal Ministry of Economic Cooperation and Development to build the capacity of players in the microfinance sector.
The items are to be used at the national and regional offices of the Association to facilitate reporting activities to the Bank of Ghana (BOG).
Mr Detlev Jahn, Head of Programme for Sustainable Economic Development, GIZ Ghana, said the company’s strategy for the development of the financial sector was to improve compliance with regulations in the microfinance and insurance sectors.
“The strengthening of regulation, supervision and compliance is expected to reduce the risk of insolvencies or poor performance by microfinance institutions and enhance the stability of the financial sector as a whole,” he said.
He said GIZ Ghana had been supporting the Ghanaian microfinance sector with technical assistance and capacity building since 2011 to help deliver its supervisory role effectively.
“A database and reporting template has been developed to facilitate the compilation of prudential reports of the association members for onward submission to the BOG,” he said.
Mr Jahn urged the Association to make good use of the equipment and look forward to further improvement in the stability of the financial sector.
Dr Philip Opoku-Mensah, Head of Other Financial Institutional Support Department, BOG commended GIZ Ghana for the gesture to address challenges of data reporting especially with Tier Four and augment the association’s digitization agenda.
He appealed to GIZ Ghana to extend the support to other microfinance institutions who needed their assistance for holistic transformation in the sector.
Mr Edmund Benjamin-Addy, General Manager, GCSCA, said the support would increase the association’s output and pledged to put to good use the items for better opportunities in future.