The University of Environment and Sustainable Development (UESD), Somanya, Local Chapter of the Tertiary Education Workers’ Union (TEWU-GH) has launched an Asset Acquisition Scheme to improve members’ welfare and make essential assets more accessible through structured financing arrangements.
The scheme covers a broad range of assets, including motorbikes, cargo and passenger tricycles, vehicles, laptops and other information and communication technology equipment, household appliances, solar and inverter systems, building materials, land and housing-related opportunities.
It aims to ease the financial burden of acquiring valuable assets and was officially launched by the Dean of the School of Natural and Environmental Sciences (SNES), Prof. Shine Francis Gbedemah. The launch, held at the Auditorium, Multipurpose Building. brought together University Management representatives, Union executives and members, financial partners and suppliers.
The Chairman of the TEWU-GH UESD Local Chapter, Mr. Ishmael Nana Kodjo Mills, explained that the scheme is designed to ease the financial burden on workers by providing more accessible financing options for acquiring essential assets.
He expressed optimism that the initiative would leverage collective purchasing power, strategic partnerships and structured repayment arrangements to provide eligible employees with more accessible opportunities to own assets that could improve their livelihoods, productivity and financial security.
Mr. Mills noted that although participation is limited to TEWU-GH members, the initiative is intended to create opportunities for eligible employees across the University’s recognised staff unions. He commended the Union’s executives and members, University Management and partners for their commitment and support in bringing the initiative to fruition. He assured members that the scheme would be administered in accordance with the principles of fairness, transparency, accountability and responsible management.
The union chairman acknowledged the support of GCB Bank PLC’s Somanya Branch as a prospective financing partner and AK Brothers Enterprise as a supplier under the initiative.
In his remarks, Prof. Gbedemah described the launch as the beginning of a new phase in members’ welfare and commended the union for introducing an initiative aimed at improving workers’ living conditions, observing that staff members who contribute to the effective running of the University often face difficulties acquiring valuable assets from their monthly earnings. He encouraged eligible employees to take advantage of the opportunity to acquire productive assets that could enhance their mobility, professional development and household welfare.
He also emphasised the need for fairness in selecting beneficiaries, transparency in the application process and accountability in managing the scheme. He urged members to remain united and support the initiative to ensure its sustainability and benefit to both current and future employees.
A representative of GCB Bank PLC’s Somanya Branch, Mrs. Sandra Lovely Owusu, highlighted the importance of financial discipline and informed borrowing to ensure that members derive lasting benefits from the initiative. She advised staff to understand their financial commitments, interest rates, and repayment obligations before taking loans, cautioning that unnecessary borrowing and existing debts could limit their ability to access financing for more important needs. Mrs. Owusu further encouraged employees to begin planning for retirement early in their careers and to seek professional guidance on managing their finances.
Representing the supplier, AK Brothers Enterprise, Mr. Jeffery Agbodo commended the Union’s leadership and members for their commitment to securing an arrangement to serve their interests.