The Seventh Day Adventist (SDA) Church yesterday inaugurated its AdventistHeritage Co-operative Fund Limited (AHCoF) as a Co-operative Society in Accra.
The fund also launched its Unstructured Supplementary Service Data (USSD) Code to enhance its activities.
A co-operative society is a voluntary association of individuals who come together with the intention to work together to promote their economic interests.
Presenting the certificate of registration and its accompanying bye laws to the Fund, the Acting Registrar, Co-operative Societies, Kwabena Yeboah Apraku, indicated that co-operative societies were mostly set up due to the high rate of unemployment and low productivity.
“Co-operative societies are pulling resources together for their betterment and to ease financial burdens,” he added.
Mr Apraku noted that the Department of Co-operatives in the short term assisted independent associations serving as co-operative societies to among others create enabling environment and develop human resources.
Reiterating that the department was passionate about job creation and youth employment, he underscored that it ensured that these societies operated as long term entities.
“To remain relevant and succeed, the society must unlock capacities of staff, pay attention to governance issues, build loyalty and attention,” Mr Apraku said.
“Members of co-operatives have the responsibility to try to attend meetings regularly, pay shares and contribute accordingly,” he added.
Mr Marcus Musah Danganah, Treasurer, West Africa Division (WAD), Nigeria, urged AHCoF to maintain high ethical and professional standard, adding that “let us use this to also preach the gospel and I have the confidence that it will succeed”.
Board Chair of the Fund, Pastor Dr Kwame Annor Boahen, pledged the fund’s resolve to stand by the bye laws and work effectively and efficiently in pursuit of the fund’s goals.
Chief Executive Officer (CEO), AHCoF, Mrs Elizabeth Kusi-Ansah, said the fund, aimed at eradicating poverty and enhancing the living standard of members, currently had 8,226 members.
She said the fund would continue topreserve its values for future generations and follow it’s tried and tested pathways to overcome challenges which may arise.
“We will also continue to build vibrant faith in this society to ensure that both members and customers benefit at all times,” she added.
Launching the Code, Dr Chris Annan-Nunoo, a member of the Fund’s board,said the code was to allow for a faster two-way communication and interaction between the fund and customers.
BY ABIGAIL ARTHUR