Member of Parliament for Sekondi, Blay Armah Nyameke, has disbursed about GH¢4.5 million in interest-free loans to approximately 2,300 petty traders as part of an economic empowerment programme in the constituency.
The initiative, which targets small-scale traders in the informal sector, is designed to ease access to capital without the burden of commercial interest rates. At an event on May 4, 2026, about 120 traders from the Assamasudo electoral area received cheques ranging between GH¢2,000 and GH¢3,000.
According to the MP, the programme was developed after consultations and a needs assessment that identified lack of affordable credit as a major constraint to business growth in the area. He explained that many start-ups struggle to survive under high interest rates and tight repayment conditions, making interest-free support a more sustainable option.
Mr Nyameke said the intervention cuts across political lines, adding that beneficiaries were selected without political bias and include members from different political affiliations.
Beneficiaries described the scheme as timely, especially as many traders face financial pressure linked to business and household demands. Some expressed hope that the programme would continue and expand to reach more people.
The loan scheme operates through a structured repayment system, where beneficiaries are grouped into clusters with assigned leaders to ensure compliance. Repayments are collected weekly, with traders encouraged to save about GH¢20 daily to meet a GH¢100 weekly target, aimed at sustaining the revolving fund and supporting more beneficiaries over time.
