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GHASALC hold AGM with a call on members to deepen digitization drive

The Ghana Association of Savings and Loans Companies (GHASALC) has held its 12th Annual General Meeting (AGM) in Accra under the theme “Driving Financial Inclusion through Digitilization: Role of Savings and Loans Companies.” Mr. Kwame Owusu-Boateng, Board Chairman of GHASALC, stated that the association at its AGM last year met to deliberate on the theme

Verification equipment linking Ghana card to customers accounts too expensive – Savings and Loans Association

The Ghana Association of Savings and Loans Companies (GHASLC) has expressed concern about the cost of verification equipment in linking Ghana Card to customers bank accounts. Its Executive Secretary, Tweneboah Kodua Boakye, therefore wants the authorities, particularly the Bank of Ghana to listen to members’ concerns as they work towards full compliance. “A key concern

Savings and Loans sub-sector contributed 35.1% of total assets for Q1 2022 – BoG

Savings and Loans industry critical to Ghanaian economy S&L companies disbursed a total of GH¢3.4 billion in net loans for Q1 2022 Code of Ethics and Professional Conduct key for S&L industry Second Deputy Governor of the Bank of Ghana, Elsie Addo Awadzi, has underscored the importance of the Savings and Loans industry to the

BoG pledges to continue to monitor rapid evolution of risks in digital financial ecosystem

The Bank of Ghana has pledge to continue to monitor the rapid evolution of risks in the digital financial services ecosystem and recalibrate rules and supervisory approaches and tools to help mitigate them. It will also ensure that regulated institutions effectively manage the risks that their businesses and actions or inactions pose to the entire

BoG details why some Savings and Loans institutions failed

Deputy Governor of the Bank of Ghana (BoG), Elsie Awadzi, has said many Savings and Loans Companies that collapsed in 2019 had flouted key regulations before their licences were eventually revoked. According to her, many of these companies were given licences when the requisite due diligence had not been conducted. “Many of these companies were

Savings And Loans Association Welcomes Gh3.56bn Released For Aggrieved Customers

The Ghana Association of Savings and Loans Company is happy with moves by government to make full payments of the funds owed customers of defunct Microfinance companies, 23 Savings and Loans firms and Finance Houses. According to the group, this has come at an opportune time where the relief they have been seeking as a

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

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