There are limited bank branches in Ghana, and not all residents have access to a branch of the bank. There is even an argument that most of these banks do not offer the best financial services to their clients. Some people rely on savings and loans companies (S&Ls) for mortgages and personal loans. These companies operate like banks but they make fewer investments and usually provide better rates of interest to their customers. They also typically charge lower fees than banks.
List of Savings And Loans Companies In Ghana
Best Point Savings and Loans
The company is a fully pledged and owned Ghanaian company that was incorporated in 2012 under the Companies Act to provide savings and loans services. The company re-branded shortly after opening in 2013 and was issued with authorization to begin operations.
The company is fully licensed by the Bank of Ghana to offer savings and loans services in relation to the Non-Bank Financial Institution Act of 2008 (Act 774). The mission of the firm is to be the most cost-effective, efficient, and unique in providing cutting-edge financial solutions to micro, small, and medium enterprises, and households.
UniCredit Ghana is licensed under the Bank of Ghana. They have been in operation since 2008 and continue to grow their market share due to their widespread branches throughout the country.
The company offers convenient, reliable and tailor-made solutions from a highly motivated and experienced staff. The firm also boasts of being among the Ghana Club 100, which is recognition of the top 100 companies in Ghana. They also have financial planning, remittance services, cash flow forecasts and stock management.
Abii National Savings and Loans
The company has been operating in Ghana for 7 years, after being licensed under the Non-Bank Financial Institutions Law in 2008. It is fully pledged and authorized to receive deposits and offer loans services to customers and other financial institutions.
The company has teamed up with other banks to offer services, such as clearing and direct foreign transfers. The core values that make up the structure of the firm include integrity, customer focus, accountability, and creativity.
Bond Savings and Loans
The company is a non-bank financial institution that offers a range of savings and loans services under the NBFI law PNDC Law 328. The company began as a finance house in 2007, and after five years it became licensed to offer these services.
The company has the vision to be the first choice of customers when it comes to offering tailored solutions. These solutions will inspire and generate wealth for all stakeholders so they can prosper.
First Ghana Savings and Loans Limited
The company has been in the industry since 1956 when it started off as First Ghana Building Society (FGSL). After years of experience in the finance sector, they had to undergo significant changes to match with the trends of technology and was registered as a limited liability company in 2006.
It previously received a certificate of operation in the form of a license issued by the Bank of Ghana as a non-bank financial institution under the Banking Act, 2004 (Act 673) and Non-Bank Financial Institution Act, 2008 (Act 774). Its mission is to be the first and distinctive institution in financial service creation.
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