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Savings and Loans companies record highest loan disbursement in the Credit Market

At the 10th Annual General Meeting of the Ghana Association of savings and Loans Companies (GHASALC) , held virtually due to the pandemic, the Executive Director Tweneboah Kodua Boakye was excited about the association’s highest disbursement number of loans in the whole credit space. He said, “It is heartwarming to note that our sector disburses

Ghana’s financial intermediaries to receive $250m World Bank support

The country is set to receive a total of $250 million to advance the Ghana Development Finance Project, the World Bank Group has revealed. This will involve wholesale financing to financial intermediaries such as savings and loans companies to on lend to Micro, Small and Medium Enterprises (MSME). It is, therefore, working with the Finance

GHASALC extends more support in COVID-19 fight

The Ghana Association of Savings and Loans Companies (GHASALC) has presented a cheque for GH¢50,000 to the National COVID-19 Trust Fund, after a similar gesture was made to the Ga East Hospital treatment Centre two weeks ago. The cheque was presented to the Trust Fund by the National Board Chairman, Kwaku Duah Berchie, on behalf

Ghana Assoc. of Savings & Loans supports Ga East Municipal Hospital COVID-19 Treatment centre

The Ghana Association of Savings and Loans Companies (GHASALC), has donated assorted items valued at 50,000 cedis to the National COVID-19 Treatment Centre at Ga East Municipal Hospital at Kwabenya in the Greater Accra Region. The Executive Secretary of the Association, Tweneboah Kodua Boakye, said the donation, which includes medical essentials such as Omron i11

Allow our members to disburse ¢600m stimulus package – GHASALC urges government

The Ghana Association of Savings and Loans Companies (GHASALC) urges the government to allow its members to disburse the ¢600m stimulus package announced by President Akufo-Addo earlier this month. Speaking to JoyBusiness, Executive Secretary of the Association, Tweneboah Kodua said the right channel through which monies of such nature can reach the targeted groups is

Majority of S&L customers yet to receive locked-up funds

Majority of customers of the several defunct savings and loans companies have not received their deposits almost six months after the Bank of Ghana revoked their licences. According to the Executive Secretary to the Ghana Association of Savings and Loans Companies (GHASALC), Tweneboah Kodua Boakye, the Receiver had done very little in communicating to the

Receiver steps up efforts to expedite Action on Customer Claims

The Receiver of the 347 Micro-finance Companies and the 23 Savings & Loans and Finance Houses whose licenses were revoked by the Bank of Ghana on 31 May 2019 and 16 August 2019 respectively, has informed the general public and affected depositors about efforts being made to expedite action on their claims and speed up

Trust us, we’re stronger and better now – Microfinance companies to Ghanaians

Microfinance companies are assuring Ghanaians of a more robust industry after the major clean-up of the industry by the Bank of Ghana. They want Ghanaians to trust and continue to do business with them as they have learned from past mistakes and have put in place measures to ensure the safety of customers’ funds. The

GHASALC cautions against capping payment of claims after latest cleanup

The Ghana Association of Savings & Loans Companies (GHASALC) has cautioned the Receiver of the collapsed Savings and Loans companies and Finance Houses against capping the claim payments to affected depositors. Tweneboah Koduah, the GHASALC Executive Secretary, said placing a cap could present further problems. “I don’t think the regulator will want to use the

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