[ 2014-10-01 ]

Ecobank Supports BEIGE Capital With GH¢25m
Ecobank has given a GH¢25 million liquidity
backing to BEIGE Capital, one of the fastest
growing providers of banking services in Ghana.

The financial support is to strengthen the
business relations between the two banks.

BEIGE Capital and Ecobank have enjoyed a symbiotic
relationship, which has seen the two institutions
forge business relations of mutual interest to
their respective customers.

Being the relatively younger firm, BEIGE Capital
has benefited from the strong representation of
Ecobank in Ghana and the sub-region in three
signification streams; Credit Support, Remittances
and Transactional Support.

With an exceptionally good credit standing with
Ecobank, BEIGE Capital has developed and extended
the benefits of such a strategic alliance into the
remittances business.

BEIGE Capital has over the years depended on the
Ecobank's Remittance Platform to enhance its
operations in the banking services.

A year-to-date comparison between 2013 and the
current year indicated a growth rate of 56%
covering transactions in Western Union and
MoneyGram transfers alone.

In key banking transactions where a BEIGE Capital
branch has not been available, clients have
reliably dealt with the BEIGE Capital through
Ecobank branches available at those locations.

Samuel Osew-Kwatia, the Chief Operating Officer
(COO) of BEIGE Capital during the visit to the
corporate office of Ecobank said, 'The primary
segmentation of main stream banks in their
targeting has largely dwelt on corporate,
multi-nationals and large enterprises to the
neglect of small to medium enterprises (SMEs) as
well as micro enterprises making them an
unexplored group popularly referred to as the 'The
Missing Middle'.

He stated that 'as a leading bank with a large
footprint in sub-Saharan Africa, Ecobank's
strategic link with BEIGE Capital has enhanced to
a large extent BEIGE Capital's reach to SMEs and
other micro enterprises.

Mr Osew-Kwatia explained that 'as an organization
it is wise to recognize and associate with strong
partners and establish integrity, which is hugely
significant in building that relationship.'

'It is profitable to work together to achieve
objectives that are mutually beneficial,' he
added.

Source - Daily Guide

... go Back