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18.07.2005 Business & Finance

ProCredit gives 54 billion cedis to SMEs


Accra, July 18, GNA - ProCredit Savings and Loans Company, a micro finance institution, has disbursed more than 54 billion cedis in loans since it started operations three years ago to Small Medium and Micro enterprises to expand their businesses.

It has also at the close of June this year mobilised more than 35 billion cedis in deposits.

The Company provides entrepreneurs with easy access to funds to boost their operations.

Its main shareholders are ProCredit Holding of Germany, International Finance Corporation, Dutch Development Financial Cooperation and Doen Foundation of the Netherlands. In a bid to get closer to clients, ProCredit has, as part of an ambitious expansion programme, opened a new 1.2 billion-cedi branch office at Madina to serve the active business community in the area and its environs.

Procredit's Marketing Manager, Mr Martin Gyampoh said the move was part of the Company's strategy to make its "reliable and affordable financial products" at locations closer to the homes and businesses of clients.

He said the Company envisaged establishing branches across the country, adding that a nationwide branch network would cement ProCredit's long-term commitment to provide sustainable and lasting financial services in Ghana.

Besides a new location in Tudu in the heart of Accra, Kumasi would receive the Company's first branch outside the Greater Accra Region. Mr Gyampoh said because of flexible terms of repayment clients had no problems servicing their loans.

He said within the first two weeks of operations, the Madina Branch had opened 300 accounts for new clients and received 300 million cedis in deposits.