By: Nana Yaw Reuben Jr.
Suhum, (Eastern Region) July 2026– Cocoa farmers have been advised to adopt the culture of savings during the peak harvest season to cushion themselves against hardships and reduce excessive borrowing during lean periods.
SafeBond Cooperative Credit Union believes that the growing reliance on loans in the off-season often traps farmers in crippling debt, threatening the stability of farming households.
The credit union also aims to helping farmers and communities at the grass root level save their earnings with them so they could make good us of it in future.
Speaking at the Asetenapa Cooperative Cocoa Farming and Marketing Union Limited 7th Annual General Meeting, held under the theme “Securing the Future of Cocoa through Sustainability and Partnership,” Communications and Marketing Lead for SafeBond Cooperative Credit Union Nana Yaw Kesseh Reuben warned against reckless spending, stressing that prudent financial management is key to breaking the cycle of debt.
He emphasised that with savings businesses in general would have financial stability and thereby withstand uncertainties and shocks, saying that the union had excellent products for farmers and value chain actors urging farmers to transact business with the union.
“Savings remain crucial for achieving long term financial goals like owning a house”, he stated that: “it isn’t just about setting aside money, but building a safety net for unexpected expenses and securing your financial future”
Mr. Kesseh noted that findings from a recent survey revealed that over 60 percent of Ghanaians had less than their one month worth of living expenses saved”, calling on farmers to learn the culture of savings.
He said that with financial discipline everybody could save and advised farmers and community folks to set clear goals in automating their savings.
“We are urging you farmers to come and save with SafeBond as we are the only financial organization to sustain your lives” he added.
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