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Emmanuel Amoquandoh (Agona Swedru)
25 August 2013 | Business & Finance

A Non-Governmental financial Organization in Agona Swedru, Sinapi Aba Trust, has changed its operations from a loan giving organization to a micro financial organization

The change in operations has necessitated the organization's name to change from Sinapi Aba Trust to Sinapi Aba Savings and loans.

The change of name as explained by the Chief Programmes Officer (National), Madam Joyce Owusu-Dabo, is that they now have the license from Bank of Ghana (BOG) to operate as a savings and Loans organization.

She said for their thirteen (13) years of existence in Agona Swedru, they had operated solely as a lending organization but they now have the opportunity to mobilize deposit from the public and also give out loans to the public.

She said the license from the Bank of Ghana has provided them with a new dawn of power to provide an all-inclusive financial service to their target group which are; the micro, small and medium entrepreneurs. She then stated that people can now save with them and at the same time obtain loans from them to do their businesses.

Madam Joyce Owusu-Dabo added that they are going to undertake a lot of operational campaigns and media sensitization to create awareness to their clients and the general public to do business with them.

She said, the reason for which they have operated in Agona Swedru for 13 years and would continue to do business with the people of Agona Swedru and its environs is that the location is an ideal place where they are able to identify their target group who are the lower income earners.

Madam Joyce Owusu-Dabo again stated that they have 48 trust organizations nationwide and they are changing all of them into Savings and Loans organizations in a gradual process. She added that the Sinapi Aba Trust in Agona Swedru is the fifth in line to change to Sinapi Aba Savings and Loans.

She entreated their clients both new and old and the general public to do business with them and also hold fast to them as they are promised an unparalleled treatment and a cordial relationship between them and their clients.

In some few minutes just as the unveiling was done, people started to open all sort of accounts and to do business with the financial institution.

Figure 1: The Chief Programmes Officer, Madam Joyce Owusu Dabo removing the cover to unveil the change of name.

Figure 2: The front view of the financial institution, Sinapi Aba Savings and Loans.

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