The CUA Capital Investment Limited (CCiL) was unveiled at the 20th Educational & Biennial Conference of the Ghana Co-Operative Credit Unions Association (CUA) on April 25, 2018. The CCiL which was initially proposed during the 18th Biennial conference in 2014 and tabled in the resolutions during the 19th biennial conference in 2016 was officially launched to start operations.
CCiL will offer the services of investment banking, fund management and corporate advisory services.
The investment has been created primarily to manage the assets of the credit unions across the country and attend to the issues that arise out of investing with investment firms; especially at a time most investment limited seem to be hitting the rock. Mr. George Ombado, CEO, ACCOSCA in addressing them buttressed on the fact that, the growth of the CCiL is very dependent on the credit unions and their support. He said: “CUA Capital will never grow if you are not supporting it”. He further stressed on the fact that, all credit unions should come together to support the CCiL by channelling their investments to CCiL.
Addressing a concern raised by one of the members on what mandate CUA has as a Co-operative Society to set up a limited liability institution, the Board Chairman explained that they have met all the necessary requirements of Securities Exchange Commission (SEC) to qualify them to establish and operate an investment limited. Board members were introduced to the members.
Background
The Ghana Co-Operative Credit Unions Association (CUA) held its 20th Educational & Biennial Conference at its main training center, CUtrac in Kasoa. The theme of the conference was “Five Decades of Sustainable Credit Union Development: CU New Image, New Direction”. The conference which saw delegates and participants from the various Credit Unions across the country commenced on 24th April with a keynote address from Oscar Braimah, the Acting Registrar of Co-operatives, in the stead of the Minister for Employment and Labour Relations, Hon. Ignatius Baffour Awuah. The conference was climaxed on 27th April with an Awards night.
In attendance were George Ombado (CEO, ACCOSCA), Mrs. Elsie Addo Awadzi (Deputy Governor, Bank of Ghana). She was represented by Mr. Amoah Awuah, a senior Officer at the Bank of Ghana. Barbucar Jeng (CEO NACCUG), Dr. Manuella Von Goeller of SBFIC and of course the CEO of CUA, Nana Kwasi Agyepong; among other notable personalities.
The conference was chaired by Dr. Charles Anane, CUA Board Chairman.
Attendees were taken through series of discussions, plenaries and other sessions, and the 2016/2017 financial report in its entirety. They were also updated on advancements and innovations made during the period under review and the next financial year. Delegates and participants also debated on new developments that need to be considered.
The CUA Capital Investment Limited, the Credit Union Credit Union investment wheel, the CUA database and the CUA NET, were a few of the many innovations brought on board.

Esther Nkrumah Amoah
Microfinance Watch