The Newmont Ahafo Development Foundation (NADeF) has disbursed GH¢845,000 to four businesses at Ntotroso in the Ahafo Region as part of efforts to stimulate entrepreneurship, support business expansion and reduce unemployment within its operational communities.
The funding, provided as start-up and business expansion capital, will support enterprises operating in poultry, plumbing and general goods trading, wood processing and joinery, as well as provision store operations.
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Beneficiaries are expected to repay the facility within two years at an annual interest rate of five percent.
Speaking at a brief ceremony to present cheques to the beneficiaries at Ntotroso, the Executive Secretary of NADeF, Elizabeth Opoku-Darko, said the intervention forms part of the foundation’s broader strategy to strengthen local enterprise development and improve livelihoods in mining communities.
She noted that it was the first time the foundation was extending support to businesses in sectors such as poultry, plumbing and wood processing. According to her, NADeF has disbursed a cumulative GH¢3,855,897.50 to support 38 businesses within its operational areas since 2018.
She urged the beneficiaries to invest the funds prudently and repay the loans on schedule to enable more businesses to benefit from the programme. “Beneficiaries should ensure that the funds are channelled directly into their businesses and repaid on time so others can also access the support,” she said.
NADeF was established through a partnership between Newmont Corporation and its host communities to promote sustainable socio-economic development in the Ahafo area.
The foundation is funded through annual contributions from Newmont Ghana Gold Limited, comprising one dollar for every ounce of gold produced and one percent of the mine’s net pre-tax annual profit.
Over the years, the foundation has financed projects in education, health, infrastructure, youth empowerment and economic development across Newmont’s operational communities.
Representing the Paramount Chief of Ntotroso, Nana Asante Gyambibi urged beneficiaries to utilise the funds responsibly to ensure the sustainability of their businesses and create opportunities for others to benefit from similar interventions.
He described the support as a significant relief to residents and a demonstration of NADeF’s continued commitment to improving livelihoods in the area.
One of the beneficiaries, Akosua Gyamfuah, a provision store operator, said the financial support would enable her to expand her business and increase stock levels. She explained that inadequate capital had previously limited her ability to purchase more goods to meet customer demand.
