Opportunity International Opens Tamale Branch

Opportunity International has extended its reach to customers in the Northern region by opening a new branch in Tamale.

This brings to 45 the number branches in the country.

The opening of the branch would also create employment for qualified personnel to add up to the existing 782 dedicated personnel of Opportunity International.

Speaking at the opening ceremony of the branch, Kwame Owusu-Boateng, Chief Executive Officer (CEO) of Opportunity International Savings and Loans Limited, re-echoed the company's commitment to supporting SMEs which are integral part of the Ghanaian economy.

'The focus of our business has been on sectors of the economy that is dominated by Small and Medium-sized Enterprises that are mostly in need of very small loans for injection into their businesses.'

Abdul Hanan Gundadow, Municipal Chief Executive for Tamale, commended Opportunity International for effectively helping Small and Medium-scale Enterprises (SMEs).

'I greatly commend you in choosing to serve this segment of micro and small-scale entrepreneurs who rarely keep records of account, have no collateral for loans and whose business needs are minute.'

He entreated Opportunity International to offer quality services to residents of Tamale and help transform the lives of market women in the metropolis.

Regional Manager of Bank of Ghana (BoG), J.T Kudah, advised customers to repay loans when they borrow from financial institutions.

'I wish to caution customers that whenever they borrow they must pay back the amount with interest. This is because funds lent out come mainly from accumulated deposits from other customers, which are repayable on demand. Failure to repay credit facilities prevents other customers from accessing funds to support viable economic initiatives while limiting the viability of the institutions' operations'.

With the introduction of a range of electronic products and services, including funds transfer, airtime top-up, and balance enquiry, Opportunity International has increased its loan portfolio to GH¢88.4 million with total deposit clients of over 425,000 as at June 2015.

The company has deposit balance of GH¢85.5 million.

Voted 'Non-Bank Financial Institution of the Year, 2013' by the Chartered Institute of Marketing, Ghana, management of Opportunity International Savings and Loans Limited intends to serve 1 million clients by 2020.