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Bayport, CFC Savings & Loans Reach Merger

By Daily Guide
Business & Finance Merger
OCT 17, 2017 LISTEN
Merger

Bayport Savings and Loans and CFC Savings and Loans have finally merged, BUSINESS GUIDE has gathered.

The paper learnt that the merger is expected to help both entities reduce operational costs.

The merger is expected to result in a bigger and better firm that will operate under the same brand name Bayport.

According to reports, the Managing Director of Bayport Savings and Loans, Kofi Adu-Mensah will share the full details of the merger and the attainment of a Savings and Loans licence with the media at a press conference to be organized by Bayport Savings and Loans on October 31, 2017 at the African Regent Hotel in Accra.

Bayport, a South African finance institution, is a non-bank financial institution (NBFIs) with speciality in the disbursement of micro and payroll loans.

The company, which has been in existence since 2003, has presence in 10 regions of Ghana.

On the other hand, CFC holds a savings and loans licence that allows it to extend credit to customers in its two branches nationwide.

By Melvin Tarlue

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