Awutu Senya District Assembly has declared its intention to establish a private company known as Awutu Senya Investment Holding Company (ASIHC) to generate revenue for the district.
Members of the assembly approved the formation of the company following the recommendations by its executive committee which was tasked to deliberate on the matter.
The company would deal with all key investments and other economic ventures that have the potential of generating revenue for the assembly to allow it to concentrate on its core mandate.
Consequently, the assembly has endorsed the executive committee’s proposal to transfer of the company assets of Awutu-Bawjiase Market, the Rural Technology Facility Investment at Awutu-Beraku, and the proposed housing project to be established at Awutu-Beraku.
The ASIHC has Mr Sampson Abbey-Armah, the District Chief Executive, as the chairman of the board of directors who would assist management in its operations.
Addressing the third session of the assembly, Mr Abbey-Armah, said the executive committee’s recommendations were based on Section 33 of the Local Government Act, Act 462, which enjoins assemblies to undertake commercial activities with other sister districts.
Mr Abbey-Armah pledged the board’s preparedness to ensure credible performance for the maximum success of the company.
Mr Joseph Anderson, the Presiding Member of the Assembly, praised members for giving their blessing to the establishment of the company and appealed to them to support it to attain its objectives.
Earlier, the assembly, to help reduce the huge expenditure incurred on funerals in the area, unanimously endorsed the Funeral By-laws prepared by the key stakeholders in the Senya Beraku Traditional Area.