Opportunity International Savings’ Woe Deepens

Lawyers of expelled workers of Opportunity International savings and Loans (OISL) have opened a defence for about five workers of the company who were sacked based on the Bank’s own sanctioned deal with a United States (US) Company called Telex Free which went bad in the end and led to the loss of Gh¢1.2 billion.

The sacked workers petitioned the Labour Commission earlier this year for resolution of the matter which appears to be taking forever to reach amicable solution.

The last time the Labour Commission met the stakeholders; the sacked workers and OISL, after the marathon meeting the litigants were given a time frame to sit and settle the matter and if it failed to reach a consensus then the Commission would have no choice than to pass judgement on the matter.

Meanwhile Information gathered reveals that the savings and loans company has sacked about forty workers for non performance. According to sources, operations of the company have dwindled since January this year as customers find more secured savings alternatives.

Besides a major shakeup is expected in the management of the company to strengthen the operations of the company. Our sources at the Parent Company of Opportunity International indicates that some top officials of the company in Ghana will soon be laid off and charged for causing financial loss to the company .

It will be recalled that in February this year the Labour Commission summoned the management of Opportunity International Savings and Loans Company to answer charges over the unlawful dismissal of some workers of the company.

The affected workers include Benjamin Quarm, credit officer, Peter Panyin Anaman, credit officer Solace Twum Barimah, credit officer Linda Asante , Relationship Manager ,Isaac Appiah , Relationship Manager Prince Asamoah , Transformation Officer Anita Tetteh, compliance officer and Yvone Nortey , the Madina Branch Manager of the Opportunity Savings and Loans Limited.

The telex free deal was secured in December 2013, by one Prince Asamoah, a Transformation officer at the time with responsibilities to outsource new projects and customers “This transaction was recommended to the branch manager who accepted and implemented together with the management of the Bank.

The deal has since gone bad resulting in the Loans Company loosing GHC1.2 million and the intelligence gathered indicates that the nine workers are just being sacrificed to make up for the inefficiencies of the administrative heads.