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Ms. Hannah Tetteh, Minister of Trade and Industry, on Thursday said government would use micro finance as a key strategy in reducing poverty and achieving the country's Millennium Development Goals. "Micro finance has emerged as a leading and effective strategy for poverty alleviation with the potential of transforming the lives of the vulnerable in society. Government is committed to improve the environment for micro finance institutions to succeed," she said. Ms Tetteh made the observation in a speech read on her behalf by Mr. Francis Kusi, Coordinator of Micro, Small and Medium, Enterprises Project, at the inauguration of Avenor Branch of Adehyeman Savings and Loans Company in Accra. She noted that micro finance had improved the quality of life of micro entrepreneurs in least developed countries by stabilizing the cash flow of their economic activities and provided security for their enterprises. "This allows them to manage spending better, which often generates savings and provides better standards of living for their families and dependants in terms of housing, nutrition, health and education," Ms Tetteh said. She said under the Micro, Small and Medium Enterprises Project, five banks had benefited from the Line of Credit facility, Partial Credit Guarantee programmes as well as technical assistance. "The Ghana Micro Finance Institutions Network established to train its members in development and use of best practices in delivery of micro finance services is also benefiting from this project," she said. Ms. Tetteh said that micro small loans credit has also been instituted by the government to help MSME gain assistance in the form of small loans with interest rate of 10 per cent. She called on the management of Adehyeman Savings and Loans Company to render quality services to its customers since an access to banking and increased security would promote a sense of entrepreneurship and increase their self esteem in society. "The initial small loan can eventually re-integrate these entrepreneurs into formal networks of the economy and foster the structural and sustainable development of local communities," Ms. Tetteh said. Mr. Phillip Cobbinah, Assistant Director, Banking Supervision Division at the Bank of Ghana, said most of the financial institutions relied on information provided by customers but sometimes such information was not available leading to constraints and the customers being eventually denied credit. "Another issue confronting financial institutions is the unreliable address system which makes it difficult to trace the location of customers," he said. Mr. Cobbinah advised customers to be transparent and honest when dealing with financial institutions in order to resolve these defects. Mrs. Sarah Sadava, Chief Executive Officer of Adehyeman Savings and Loans Company, said management had planned to expand its loan portfolios, improve delivery channels, increase client options and enhance its security and control measures next year. The company was incorporated in July 2004 and focuses on micro finance activities through the mobilisation of savings from the retail public and provision of credit, largely to households, micro and small businesses.