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    Importers, Exporters Association calls for sympathy for Labianca following corruption claims

    Our cars to sell for cheaper soon- locally assembled automobile companies

    BoG Deputy Governor chairs advisory board of UG’s College of Humanities

    Ghana’s inflation rate rises again; hits 31.7% in July 2022

    Fitch downgrades Ghana’s credit rating from B- to CCC

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    Farmerline begins ‘Support a Farmer’ initiative to provide fertilizer to farmers

    Ghana likely to secure US$3 billion from IMF for economic support

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    Importers, Exporters Association calls for sympathy for Labianca following corruption claims

    BoG Deputy Governor chairs advisory board of UG’s College of Humanities

    GEXIM CEO is one of Ghana’s 100 most influential business leaders

    Zenith Bank Ghana wins premium quality West African banking brand of the year 2021

    GIPC and GSE sign MoU to attract more investment into Ghana

    Appolonia City unveils its first commercial building; Adumuah Place

    Dr. Ampabeng advocates consolidation of road taxes into fiscal policy

    WAPCo commits to cleaner and reliable energy

    Government eyeing GH¢750m with new E-VAT policy

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    We’re ready to re-engage gov’t on acquisition of Vodafone shares – Telecel

    New deadline for SIM re-registration too short – MoMo agents association

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    Vodafone agrees sell stake in Ghana’s business to Telecel

    Telecoms Chamber and IIPGH advocate sustained coding education

    IIPGH to enter coding education partnership with Telecoms Chamber

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    African countries that could follow Sri Lanka into economic chaos

    Africa’s internet economy to cross $180 billion by 2025: Report

    Regional economic cooperation needed to enhance Africa’s competitiveness – Bawumia

    Ivory Coast is set to receive $26.1 billion worth of development finance from 4 lenders, the EU and France

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Banking population to increase to 75% by 2020-Finance Ministry

bycitibusinessnews
May 1, 2017
in Banking And Finance, Government, Local Economy, Top Stories
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The Ministry of Finance has set a target to increase the country’s banked population from 58% to 75 % by the year 2020.

In line with the target, the ministry will in June this year launch a National Financial Inclusion Strategy targeted at financial literacy, a key tool for financial inclusion.

According to the ministry, most people shy away from investing their monies in banks largely due to inadequate information.

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Speaking to Citi Business News on the matter, the Deputy Minister of Finance, Abena Osei Asare expressed optimism that the National Financial Inclusion Strategy will help people in the unbanked population gainconfidence to make investments with financial institutions.

“We are going to launch this program in June and it’s going to break down all financial barriers.  Most of the time people avoid banking because of their low financial literacy,” she reiterated.

“We are going to increase their capacity such that they can find out which bank, microfinance institution or savings and loans institution will best serve their interest as well as things they should look out for when making investments,” she added.

Mrs. Asare made these comments at the sidelines of the launch of Equity Savings and Loans Limited.

The institution which was formerly known as Brace Capital was officially launched into the Savings and Loans industry.

The company is a wholly indigenous full-fledged Savings and Loans Company and is one of the strongest and fastest growing financial institution in the country.

Mr. Isaac Arthur, Chief Operating Officer (COO), Equity Savings and Loans, said the company is ready to offer tailor-made products to its teeming and prospective clientele base.

According to him, Equity Savings and Loans wishes to become a universal bank with the preferred choice of financial services in the country by individuals, large and small and medium enterprises.

Mr. Arthur said the company is also committed to rendering services to individuals that need loans to start their businesses.

“Furthermore, the company will reach out to micro-customers who need funding to grow their businesses,” he explained.

Other unique products offered by the company include Equity Kiddie Account, Equity Susu Account, Equity Platinum Account Equity Reward Account and Equity Bonus Plan, among others.

–

By: Anita Arthur/citibusinessnews.com/Ghana

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