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2021-04-07

[N] As Majority Leader be circumspect with your utterances

2021-03-19

[I] Goldman Sachs staff revolt at ‘98-hour week’
[I] Over half of staff go back to workplace
[I] Health chiefs confirm Oxford-AstraZeneca Covid jab safe to use
[S] Kotoko Signs Second Brazalian Player
[N] It Is A Blatant Lie That I’ve Declared My Prez Ambition-Agric Minister
[S] Accra Mayor to change face of sports in Greater Accra
[S] Ambassador Lutterodt charges GOC prez to tackle Martha Bissah issue
[S] Ben Nunoo-Mensah hits ground running for GOC
[S] Black Stars to Engage Uzbekistan In International Friendly
[N] House of Chiefs calls for collaboration with MMDCEs for development
[N] Baby Harvesting: More suspects picked
[N] Police pledge commitment to bringing Sheikh Maikano’s murderers to book
[B] ARB Apex Bank admitted to Ghana-Sweden Chamber of Commerce
[N] Desist from starting race ahead of time - Obiri Boahen to NPP presidential
[N] Gov’t announces construction of five interchanges in Ashanti
[N] Controversial textbooks: NPP urges NaCCA to enforce rules without fear or favour
[N] Staff working on Tamale interchange call off strike
[N] Newly proposed taxes a huge hindrance to businesses’ recovery
[N] Government can’t take a unilateral decision on salaries for public workers
[N] Ghana records 2 new Covid-19 variants; experts call for immediate action

2021-03-17

[S] First GFA safety and security seminar takes place today
[B] NDPC holds consultation medium term framework for 2022-2025 in Oti
[B] More investments recorded in Western Region despite COVID-19
[N] Ghana records 698 COVID-19 deaths
[N] NDC’s Ofosu Ampofo behaves like a toddler – Allotey Jacobs
[S] Don’t tax sports betting, ban it – Ato Forson to government
[N] Ama Benyiwaa Doe slams Allotey Jacobs; says he has no influence
[N] Approving Akufo-Addo’s ministers ‘regrettable and unfortunate’ – NDC caucus
[S] Don't rush Satellites players, warns GFA coaching boss
[N] Eastern Regional Hospital detains 246 patients for non-settlement of bills
[N] COVID-19 vaccination in Ghana: 1,000 reports received on adverse effects
[N] Ignore reports of rift between local, foreign staff at AfCFTA secretariat – Govt
[N] Remain calm, support our leadership in Parliament – NDC Council of Elders
[N] Ghana hasn’t recorded any case of blood clots from COVID-19 vaccination – FDA
[N] 9-year-old boy burnt to death as stepfather sets house ablaze
[B] Budget cuts for legislature, judiciary won’t be entertained – Speaker
[I] Half of UK managers back mandatory Covid vaccines for office work
[I] Brussels to propose Covid certificate to allow EU-wide travel

2021-03-16

[I] Nick Candy leads £1m drive to oust London mayor Sadiq Khan
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Business

[ 2015-11-30 ]

Savings and Loans Companies urged to embrace mobile money technology
Savings and Loans companies in the country have
been urged to make use of mobile money
technology.

According to Dr Asare Akuffo, Managing Partner,
Mate-Kole and Akuffo, Chartered Accountants and
Management Consultants, it will help reduce their
transaction cost significantly.

He made the call fifth Annual General Meeting of
GHASALC in Accra.

Speaking on the theme: ‘Inclusive Financing:
A Tool to Strengthening the Savings and Loans
Sector in Ghana”, Dr Akuffo advised them to
reengineer to become attractive to the large
population at the base of the economy.

“Your future survival depends on your
ability to achieve economies of scale through the
attraction of loyal customers and this you have to
do actively whilst patiently creating assets of
acceptable quality,” he said.

Dr. Akuffo also challenged the Savings and Loans
companies to request for documentation as only a
limited number of their customers at the base of
the pyramid had formal identity documents, while a
few had formal residential addresses or utility
bills.

“Your Association should work with the
Banking Supervision Department to have acceptable
Know Your Customer requirements that will not
constrain growth of our business,” he
advised.

Also, the Executive Secretary of the association
Eunice Brako Marfo in her report said the
association operated unfavorable business
environment characterised by high inflation and
inadequate power supply.

“This made our net supply for the year to
be reduced by 61 per cent from GH¢ 40,749 in
2013 to GH¢ 15, 922 in 2014, compared to a 26
per cent increase in the previous year’s of
GH¢ 32,269 from that of 2012” she
stated.

Ms. Marfo revealed that GHASALC’s total
income received in the year under the review
increased by 73 per cent representing GH¢ 140,
577 in 2014 from GH¢ 81, 273 in 2013.

However, she said the total operating cost in the
same period increased by 208 per cent from GH¢
40,524 in 2013 to GH¢ 124,655 in 2014.

GHASALC’s boss indicated that
GHASALC’s balance sheet size continued to
improve marginally as the Association’s
assets increased by 12 per cent from GH¢ 99,
898 in 2013 to GH¢ 122, 284 in 2014.

On the way forward, she said the association would
be focusing on improving income generating
activities as a way to be sustainable and be a
stronger mouth piece for our members.

“Key among our objectives next year is to
champion the cause of our members and advocate for
them in every possible way to ensure they are
heard and seen in the limelight as they strive to
improve financial inclusion in Ghana,”

Eunice Brako Marfo also advised Savings and Loans
Companies to set good examples by storing and
submitting data as they strived to improve live
collectively.

For his part, Chairman of GHASALC Dr. Emmanuel
Owusu encouraged members to utilize the mobile
money service.

He believes it will reduce the opening of branches
and cut down operation cost of companies.

Dr. Owusu pledged better improvement systems among
other activities by the secretariat to help
position GHASALC on a high pedestal not only in
Ghana but on the global market.

Source - MyjoyOnline



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