Charles Amonoo, Chief Executive Officer of DA Microfinance cutting the tape to commence business at Asylum Down. With him are some senior staff of the company.
Posted on: www.dailyguideghana.com
By William Yaw Owusu
Wednesday December 14, 2011.
DA Microfinance, popularly called Dwadifo Adamfo, a financial outlet providing products and services particularly for the informal sector, has opened its head office at Asylum Down, Accra as part of efforts to expand its operations.
Established in June 2009 at Kaneshie, Accra, DA Microfinance currently has five branches, including Kasoa and Swedru in the Central region apart from Accra and according to Charles Amonoo, Chief Executive Officer of the company, another branch in Techiman is in the offing.
At a short ceremony to officially open the Asylum Down Branch yesterday, Mr. Amonoo said “through our innovative savings and loans, we now serve close to 20,000 active clients and this is a testimony to delightful and business enhancing nature of our products and services.”
He said about 30 per cent of DA Microfinance clients are borrowers while the rest are saving with them, saying “since we started, we have been at the forefront of pioneering innovation in the microfinance sector through flexible, affordable and timely financial solutions.”
“DA was the first micro-financial institution to introduce ‘Electronic Susu, a system that allows customers to do real-time deposits as well as receive electronic receipts for the transaction. This ensures that customer deposits are protected from fraud.”
Mr. Amonoo said DA Microfinance will in 2012 launch a radio programme that will provide general business advice to the public, stressing that they are planning to expedite their exploratory activities to become the first to microfinance institution with nationwide coverage.
“We are working hard to establish over 30 branches and agencies over the next five years and grow our customer base to over 100,000.”
He said they are working on introducing biometric security features and electronic transaction capability into their operations to make their products more secured.
“We have also conducted studies into mobile banking technologies and other IT driven solutions that will establish DA as the institution of choice for the informal sector.”
Mr. Amonoo said since its inception, the company has been able to raise over GHC 4 million through investment products and added that they have ‘competitive’ loan rates.
He said the company has put in an application for approval by the Bank of Ghana following the release of new guidelines for licencing microfinance institutions.
No comments:
Post a Comment