Opportunity International Ghana, a non-bank financial institution, that serves micro and small entrepreneurs with loans, deposits and other financial services, has launched a new brand and targets one million customers by the year 2020.
Mr. Kwame Owusu-Boateng, Chief Executive Officer (CEO), Opportunity International Ghana, explained that the new brand brought the global mission of his outfit to life.
He highlighted the renewed commitment of the company to create bolder and more innovative ways to help clients work their way out of poverty, strengthen their families and change the world.
Mr. Owusu-Boateng said the new brand marked an important milestone in the history of the company which had chalked a lot of successes during the 10 years of its existence.
“We should be proud to have claimed our rightful position. More importantly, we have done so on the back of the strong values of commitment, humility, respect, integrity and stewardship,” he stressed.
He cited the introduction of a Mobile Van or “Banking on Wheels” service in Ghana in 2010, Biometric Identification System (BIDS) for clients and micro, insurance to cover loans as areas where the company was the trailblazer.
“We were the only institution in Ghana to create a loan product for the physically disabled fraternity in 2013, and the First Savings and Loans Company to provide a core product for private schools to help in school infrastructure development in 2008,” he added.
From small beginnings, he said the business had seen significant growth and marked improvement in all indicators, adding that as of the end of 2010, the company’s loan portfolio stood at GH¢24.7million, deposit balances GH¢22.3million, total loan clients 41,470 and total deposit clients 183,053.
“Barely four years later, our loan portfolio has increased to GHS 90.5 million (266 per cent growth from 2010), deposit balances GHS 75 million (236 per cent rise), total loan clients are now 78,059 (88 per cent growth) and total deposit clients are currently392, 642 (114 per cent growth). We have also increased our branch network from three in 2004 to 40 outlets all spread across the length and breadth of the country,” he added.
Mr Harry Turner, the Global Chief Operation Officer (COO), Opportunity Ghana, said he was very proud of Opportunity Savings and Loans in Ghana, adding that “even though the journey has not been easy, I must say it has been a tremendous journey”.
The Global COO said he believed the company’s commitment to clients and their transformation had contributed to its 10-year success story in Ghana.
By Michael D. Abayateye