Women's World Banking, Ghana wins award

Women's World Banking, Ghana, (IWWBG) arguably the most innova¬tive microfinance institution in Ghana has won an award at the recent Women's World Banking Global Network and Capital Markets meeting held in New York from April 27 to May 5.

The meetings are held every two years to promote interaction and learn¬ing among network members. This year's meeting marked the 30th anniversary of the network, which now consists of 29 members from Asia, Africa and America. It also marked the return of WWB Ghana to the global network after being disaffiliated in 2005.

The competition, held on the last day of the conference, was open to all 29 members of the network. However, only the work of nine microfinance institutions (MFls) including WWB Ghana and ASA Bank (the largest MFI in the world with about 16 million c1ients were admitted by JP Morgan to the competition stage. . .
At the competition stage, made up of three groups, WWB Ghana emerged top in Group B to become one of the last three finalists, which included FIE Microfinance Bank in Bolivia (the third largest MFI in latin America.

VVWB Ghana's presentation, which involved a scenario analysis of the company's three-year financial pro¬jections was assessed alongside pre¬sentations of other finalists in terms of relevance of content, scope and depth of analysis, clarity of presentation and reasonability of responses to follow-up questions from the judges and other participants.

At the end, WWB Ghana was declared the 2009 winner of the competition by a panel of judges drawn from the Wall Street journal, Aorgan Stanley and JP Morgan.

WWB Ghana was represented at the event by Mrs Adwoo Annan, deputy Chief Executive Officer and Mr Ernest Mintah, Chief Operations Officer(COO).

During the meetings, the COO made a presentation on the use of vir¬tual banking as an innovative tool for deposit mobilisation during the first session alongside presentations from the CGAP and XAC Bank (Mongolial.)

The WWB Ghana presentation excited most participants who were eager to learn more from the compa¬ny's experience in the deployment of virtual banking products.