Musoni at the 7th GHASALC AGM in Ghana

By June 27, 2017Conferences

Members of the Ghana Association of Savings and Loans Companies (GHASALC) convene once a year during their annual general meeting. Musoni is proud to have sponsored (alongside Software Group and e-Crime Bureau, Ghana) the 7th AGM held in Accra on the 15th of June 2017. This year’s conference brought together representatives from 38 financial institutions, the Head of Banking Supervision from the Central Bank of Ghana, Mr. Raymond Amanfu and the Executive Director of the Ghana Association of Microfinance Institutions (GHAMFIN), Mr. Yaw Gyamfi.

Regulation and alternative delivery channels: The two routes to bridging the financial inclusion gap in Ghana

AGM Theme

The event was officiated by Mr Kojo Ampofo Agyapong, the chairman of GHASALC. In his report, Mr Kojo Ampofo Agyapong noted the completion of the Rural and Agricultural Finance Programme (RAFiP) in 2016. He posited that the future goal of GHASALC members  should be to bridge the financial gap through alternative delivery channels and regulation. The chairman further called on the regulators to take the sector serious as it could influence the ultimate GDP output of a large informal sector.  

Ms. Eunice Marfo, Executive Secretary of GHASALC underscored the progress made in 2016, particularly the improved finances of the association. She further encouraged members to commit to their agenda to having an Apex Bank  in order to curtail the problems facing the sector. 

Speaking on behalf of the Central Bank of Ghana, Mr. Raymond Amanfu assured the participants that the Central Bank of Ghana was currently reviewing the issues raised by the sector including; the reduction of risk weighting for inter-savings and loans placements, and their ability to engage in certain foreign exchange transactions. He further indicated that the Central Bank will soon provide feedback to these issues. With a signed assurance from the Central Bank of Ghana, the members were encouraged to take the next step towards bridging the financial inclusion gap – launching alternative delivery channels. This is where Musoni Services comes in.

Speaking at the event, Mr. Kwame Asare-Yeboah (Musoni’s Country  Manager in Ghana) emphasized that the Musoni System has been built to make it as easy  for organisations to rapidly launch their own services and delivery channels. Musoni already works with organisations who’ve linked custom client on-boarding applications through SMS and tablet apps, integrated external loan appraisal tools, integrated with USSD menus, Salesforce, mobile money applications, custom front-ends and more.

Any organisation in Ghana looking to learn more about how Musoni can help them leverage the latest technology and reduce costs should contact Kwame on +233 231 422 544 or visit www.musonisystem.com/ghana.