Sinapi Aba CEO predicts bright prospects for microfinance industry in 2017

The Chief Executive Officer (CEO) of Sinapi Aba Savings and Loans limited Anthony Gyasi Fosu has expressed optimism about bright prospects of the year 2017 for players in the financial sector.

The microfinance company began its operations some twenty – two years back under the Sinapi Aba Trust as one of the fore-bears of institutions providing both financial and social services to the widely unbanked low income earners in the informal sector.

The company however evolved into a Non-Banking Financial Institution licensed under the Non-Bank Financial Institutions Act 2008 (Act774), in the year 2013 and relaunched under the name Sinapi Aba Savings and Loans (SASL) Limited.

Sharing the company’s aspirations for the year 2017, Mr Gyasi Fosu pointed out that all indications point favourably for all the company’s investment, savings and loan products already rolled out on the market.

“Certainly a few challenges may come up but there are all indications that it is certainly going to be a good year especially for all of us in the financial services sector. A similar thing is also expected for our clients and our business partners also,” Mr Gyasi Fosu assured.

He added, “It is a year that we are dedicating ourselves to serve our customers more to bring the best out of our financial services for them. We have come out with a lot of products that will serve their specific needs. Our customer service has been also sharpened in all our branches to ensure that all our business partners and clients can take advantage of the opportunities that this year brings to the entire Ghanaian economic community.”

SASL so far has an array of industry and sector specific loans including the Sinapi Group Loan, Micro Enterprise Loan, Sinapi Festive Loan, Small and Medium Enterprise Loan, Sinapi Business Asset Loan, Sinapi Agricultural Loan, Micro-school loan, Sinapi Education loan, Micro-housing Loan and Church Loan.

The company has expanded its traditional savings accounts to include the Sinapi Susu Account, Fixed Deposit Account, Flexi (Nkosuo) Savings Account and a special account for parents’ to save for the future of their children.

Aside this, the company under the Sinapi – Aba Trust has a number of social intervention programs jointly funded by the company and its international donors to support deprived communities, rural schools and unemployed youth.

By: Ghana/ K.Heathcote-Fumador