GODCCOS Tepa - Society Reports Impressive Performance In 2023 Financial Year

Asempa Dawuro

Jul 19, 2024 - 14:17

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GODCCOS Tepa - Society Reports Impressive Performance In 2023 Financial Year

Dignitaries after the AGM

By Adu Gyamfi Odopa

(Odopa2@gmail.com)

The Goaso Diocesan Catholic Co - operative Society (GODCCOS) - Tepa Society, has reported a net surplus of GH¢280,873.73 in the 2023 financial year compared to GH¢113,464.49 in the previous year.

It also recorded a total income of GH¢686,606.08 during the period under review as against GH¢378,833.47 in 2022.

The financial institution in addition realised a total expenditure of GH¢405,732.36 in 2023 and GH¢265,367.98 in the previous year.

GODCOS - Tepa Society further indicated a total assets of GH¢4,309,315.50 during the 2023 financial year to GH¢2,662,870.11in 2022.

In a presentation of an audited report and financial statement for the period ended 31st December, 2023 at the 2nd Annual General Meeting (AGM), GODCCOS - Tepa Society recorded a total shareholders fund of GH¢544,216.17 in 2023 and GH¢256,692.45 in 2022.

At the AGM held on June 28, 2023 at Tepa, the capital of the Ahafo Ano North Municipality, it was announced that GODCOSS - Tepa Society posted a total members savings of GH¢3,745,396.78 in 2023 and GH¢2,394,209.07 in 2022.

Mr Joseph Kofi Adumuah, the General Manager (GM) of GODCCOS, in his remarks urged members, officials and board members to be ambassadors and propagators of the good news of the co - operative society in order to bring more members onboard.

The GM assured that funds deposited at GODCCOS is in secured hands, prudently invested and will continue to grow noting that our interest rate is the most cheapest in the market.

He stressed that the financial institution since its establishment at Tepa, has supported individuals, institutions, Small and Medium Enterprises (SMEs) with easily accessible and small interest loans to expand their capacities.

"seek early process for loan acquisition to ensure smooth operation and disbursement. Don't wait until a very short time to your financial needs before visiting the society" Mr Adumuah stated.

The GM commended the Union Board Chairman, Msgr Anthony Boahen Kyereme, Diocesan Bishop, Most Rev Peter Kwaku Atuahene and other stakeholders for their contribution to the growth and sustainability of the society.

He expressed gratitude to the commitment exhibited by shareholders of Tepa and other societies in the advancement of the financial institution saying "together we can make GODCOSS great and strong".

The Ahafo Regional Director, Department of Co - operatives, Osahene Amankwah, implored that if all the 364 members of Tepa - society increase their shares and pay loans in time, the financial institution will continue to be great and strong.

He advocated for routine education and trainings for identifiable groups including market women, artisans, churches among other organizations in order to acquaint themselves with the operations of the co - operative society.

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