BEIGE Capital opens branch on Spintex Rd
The management of BEIGE Capital Savings and Loans Ltd says a lot of opportunities exist in the micro and small-scale businesses market and it will continue to design products to meet their needs.
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The Deputy Managing Director of the company, Mr Charles Odonkor, said the company would continue to reshape its approach to service delivery to fill the gaps and manage shortfalls in the industry in order to serve both the banked and the unbanked.
“Our position as the leading provider of services to the informal sector by size and volume of transactions has not made us relent in our efforts to provide the best services,” Mr Odonkor said this last Wednesday when the savings and loans company opened a branch on the Spintex Road.
The branch, which would offer the full range of services by the bank, comes in a plush setting and ambience, with a cosy lounge for customer relaxation, befitting what BEIGE describes as a ‘Premium Plus’ branch.
Currently in its eighth year of operations, the deputy managing director said, the company had a deposit-led approach to banking which had been successful and would contribute to the central bank’s efforts to promote financial inclusion in the country.
Going forward, it is the vision of the company to capture up to 80 per cent of the country’s economically active population who are involved in the informal sector, by which Mr Odonkor said would “encourage banking in the sector and rebuild the trust of this population in Ghana’s banking industry”.
He also pledged the commitment of BEIGE Capital to providing the best possible service in electronic banking to serve as a one-stop shop for quality banking services for customers.
The Head of Banking Supervision of the Bank of Ghana, Mr Raymond Amanfu, advised the company to not compromise on internal controls, especially on Know Your Customer (KYC) policy and said it was a continuous process which they should perform to better know and understand the nature and business of their clients.
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Mr Amanfu also called on BEIGE Capital to have a robust information technology system and train its staff on IT security and cybercrime detection and prevention.
He also said the Bank of Ghana wanted the savings and loans company to remain liquid at all times, hence “the need to continue to adhere to effective liquidity management”, and added: “Management must identify quickly any gaps that are likely to create liquidity challenges as you deploy your deposits and stand ready with alternative liquidity strategy to address such gaps.”