The Newmont Ahafo Development Foundation (NADeF) has given GHS 845,000 to four businesses in Ntotroso. These businesses are in poultry, plumbing, general goods trading, wood processing, and running a provision store. The funding aims to grow local companies and reduce joblessness. This is part of NADeF's plan to help the economy in areas where Newmont operates.
These companies will pay back the money within two years. They will pay a five percent interest each year. NADeF has now given more than GHS 3.85 million to 38 different businesses since 2018. The foundation supports communities by investing in education, health, and jobs. Newmont Ghana Gold Limited provides money to NADeF. This includes one dollar for every ounce of gold produced. It also includes one percent of the mine's profit before taxes.
Elizabeth Opoku-Darko, the Executive Secretary of NADeF, spoke at a small event. She said NADeF is supporting businesses in poultry and wood processing for the first time. She urged the recipients to use the money wisely. They must also pay back the loans on time. This allows others to get help too. Nana Asante Gyambibi, representing the Paramount Chief of Ntotroso, also stressed responsible use of funds. He mentioned it shows NADeF's commitment to improving lives.
One recipient, Akosua Gyamfuah, runs a provision store. She said the money will help her buy more goods. This will allow her to serve more customers. She explained that she has not had enough money to buy enough stock. This has stopped her business from growing before. The support from NADeF will help her meet customer demands more effectively.
This funding is part of NADeF's larger goal. It aims to boost the economy where Newmont Ghana Gold Limited operates. By supporting small businesses, NADeF helps create jobs and improve living standards. The loan terms are designed to be manageable for small enterprises. The low interest rate makes borrowing affordable. Repayment ensures the fund's sustainability for future applicants.