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ASA Savings and Loans Limited has presented cheques totalling GH¢50,000 to 50 students from basic school to the tertiary level in the Eastern Region.
Each of the pupils and students had GH¢1,000.
The amount is to cushion the parents and guardians of the beneficiaries to enable them to pursue their education.
Presenting the cheques to the beneficiaries at separate locations at Asamankese and Koforidua respectively, the Corporate Social Responsibility (CSR) and Sustainability Manager of ASA Savings and Loans Limited, Richard Nartey, said the gesture formed part of the company's CSR initiative.
He explained that after the parents and guardians of the pupils and students had their transactions with the company, they utilised most of the amount on the education of their children and wards.
To bail the customers out of their predicaments, Mr Nartey said that the company had to offer the money free of charge to enable them to provide good education for the pupils and students.
Mr Nartey said the company set up a committee to analyse the situation and came up with a suggestion that the customers should be assisted with some money “free of charge” to meet the educational expenses of their wards and children.
"We have realised that after giving the customers loans, they used most of the money on their children's education.
"The company, therefore, decided to give out the GH¢50,000 which has already been shared among the 50 beneficiaries,” Mr Nartey stated.
For his part, the Deputy Director in charge of Finance and Administration at the New Juaben Municipal Assembly, Rev. Lawrence Gyimah, said the package had been a big relief to the beneficiaries.
With that financial support, he indicated that the children would grow to be assets not only to their families but to society as a whole.
Two of the beneficiary students, Elvis Kwapong from the Koforidua Technical University (KTU) and Rhoda Osabutey from the SDA College of Education said the money would go a long way to assist them in their education.
