By Muyid Deen Suleman
Kumasi, Oct. 8, GNA – The total assets of the Ashanti Catholic Schools Teachers Co-operative Support Society Limited (ACTCoMSS) grew from Ghc18.7 million in 2020 to Ghc21.0 million in 2021 with a net surplus of Ghc547,434.97.
Mr Peter Sula, Board Chairman of the Society, who disclosed this, said the growth in assets led to an increase in loan portfolio to members from Ghc20,000.00 to Gh30,000.00, depending on affordability.
He was addressing the Sixth Biennial General Meeting of the Society in Kumasi on the theme: “ACTCoMSS, a Dependable Partner for Our Development.”
The meeting was held to discuss the audited financial statement for the year ended 2021.
Mr Sula said the primary consideration was to redefine the direction of the Society vis-a-vis the current socio-economic woes.
He said despite the effects of all the geo-political conflicts around the world, which had impeded the global value chain and caused significant economic difficulties, the ACTCoMSS remained resolute in rendering services to its members.
The Board, he said, had already conducted a comprehensive review of the society’s policies to bring them in line with modern developments in terms of governance and regulations.
He said the Board had maintained and enhanced cooperation of the society with other Teacher Co-operatives in the Ashanti Region and that plans were underway to form an umbrella body to make the various co-operatives vibrant to serve members better.
The meeting, among others, considered and adopted the statement of accounts of the society for the year 2021 together with the reports of the Board, Loans Committee, and the Supervisory Committee.
The meeting also confirmed the minutes of the 2019/2021 Biennial General meeting, adopted the resolution, and presented and approved the 2020/2021 budget statement.
Citations and awards were also given to some members who excelled in their duties over the years.
GNA