Savings and loans company sets ambitious target

TUC PIXGolden Pride Savings and Loans has set an ambitious medium-target to become the market leader in the sector.

“Our motivation is to be with the best, that is, the market leaders and possibly beat the competition on permanent basis to ultimately become the preferred banking partner. With the introduction of e-banking services, our presence and operational visibility is firmed up,” Mr. Prince William Ankrah, Board Chairman of the company has said.

Speaking at the launch of the company’s e-banking services in Accra he said “We are undaunted by the challenges of the current markets. Golden Pride Savings & Loans Limited is not totally satisfied with getting better than we were yesterday or the year before. We want to be the best in the market.”

The company has partnered HFC Bank Ghana Limited to use their platform to roll-out our Automated Teller Machine (ATM) service.

Mr. Ankrah, who is also the General Secretary of the Ghana Mineworkers’ Union said the company chose not to focus on early profit making agenda but rather invest in technology since that put, it ahead of its peers.

“Interestingly, it has coincided with our ultimate aim of making a good return on our investments. With our six branches, and still counting, I can publicly state that Gold Pride Savings & Loans Limited has now entered the route to profitability and the sky will obviously be our limit,” he said.

Mr. Johnson Boadi Asamoah said the new financial environment was about differentiating financial products and services that provide increased choices, control, security and accessibility.

The ability of financial institutions to deliver products and services in the most efficient and effective manner he said would be key to determining performance and relevance.

In this area, he said, Ghana had not been behind in embracing the rapidly evolving technologies and in taking initiatives to enhance the delivery channels.

“It is to this effect that our company has launched its electronic products to join the many financial institutions which have already rolled-out some e-products. Our bouquet comprises Automatic Teller Machines (ATMs), SMS Alerts, MTN and Airtel Mobile Money Transfers amongst others,” he said.

Mr. Asamoah said, banking institutions need to innovate to reach potentially new markets and consumers.

He said while the use of cash and cheques would continue to be important, more consumers were realising the convenience and flexibility of electronic banking in meeting their daily banking needs.

“It is significant to note that as at December 2014, we had mobilised a total of GH¢58 million as deposit. This is unprecedented in the financial industry and indicates that Golden Pride Savings and loans is synonymous to excellence, and performing above the call of duty is our hall-mark,” he said.

By David Adadevoh

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