GHASALC is an association of all Savings and Loans Companies registered under the laws of Ghana and also licensed by Bank of Ghana. It was registered and also obtained a certificate to commence business in the year 2008 as a company limited by guarantee and not having any share capital and also shall be a non-profit making institution.Savings and Loans Companies being a little different from other actors in the Micro-finance sector felt that there was the need for specific issues to be addressed on a different platform. This concern could only become a reality if they come together to have a louder voice in the dialogue with other stakeholders in the financial sector in Ghana.
Strategic Vision
To be the ultimate reference for MSME financial intermediation through delivering sustainable stakeholder value.
Strategic Mission
To empower Savings and Loans Companies to become the preferred MSME financial intermediaries through the delivery of exceptional value for all stakeholders.
Core Values
- Integrity
- Innovation
- Consumer Focused
- Community
- Sustainability
Objectives
The primary objective of GHASALC is to initiate and support initiatives that address the challenges faced by its members in promoting and financing low-income and microentrepreneurs and to assist members in developing suitable products for their clients.
As an Association, our objectives and functions are:
To establish a common platform to ensure a sound business environment for effective and efficient Members' operations.
To establish constructive and collaborative relationships that are mutually beneficial to members.
- To serve as a lobbying and advocacy group on behalf of Member Companies and the Savings and Loans Industry.
- To promote networking and information sharing amongst Members.
- To promote international best practices among members of the industry.
- To promote the association and the Savings and Loans sector to the public.
- To develop and establish local and international links with other financial associations, institutions, and Apex bodies.
- To collate and develop industry-specific databases beneficial to the operations of Members.
- To organize seminars, forums, workshops, trainings, and conferences to share best practices in the industry and build members' capacities.
- To conduct research and systematic evaluation of issues that may affect the Members of the industry and publish findings in appropriate media.
- To encourage the enhancement of financial integration between Ghana's economy's formal and informal sectors.
- To collaborate with Government and Regulators to formulate and implement industry- friendly policies.
- To ensure that Members abide by the Association's Code of Conduct and Practice.
- To collaborate with The Bank of Ghana and relevant authorities on policy, regulation, and supervision issues that may affect the industry.
- To place the services of the Association at the disposal of the Bank of Ghana (BoG) and other organizations both inside and outside Ghana in pursuance of matters relevant to Member Companies' operations.
- To do all such things as are incidental or conducive to attaining the Association's vision, mission, and objects.