The Asantehene, Otumfuo Osei Tutu II, has appealed to the management of BestPoint Savings and Loans to increase the number of branches in the Ashanti region to make capital easily available to his subjects, most of whom are petty traders.
He said the region, which was the hub of individual businesses, could expand further if BestPoint and the people formed a partnership for the mutual benefit of all.
Otumfuo’s appeal was delivered through the Akyeampinhene of Kumasi, Oheneba Aduse Poku, at the official opening of the savings and loans first branch in the region at the Kejetia market.
It brings the number of branches to five, after four in Accra located at New Town, Makola, Abossey Okai and the main branch at Achimota.
Within 10 months in operation, BestPoint has been able to raise Ghc 20 million, of which Ghc5m has been given out as loans to support Ghanaian businesses.
Otumfuo’s apparent endorsement of the non-financial institution stems from the credibility of the owners, Osei Kwame Despite, owner of the Despite Group of Companies, including Peace FM and his friend, Ernest Ofori Sarpong.
The Asantehene urged the savings and loans company to cover the six entry points of Kumasi, to create jobs and promote the growth and expansion of businesses.
There was a rush at the Kejetia branch, as prospective clients scrambled for registration forms to begin saving.
The first 100 clients were rewarded with various prizes, including LG TV sets.
But the Head of Banking Supervision at the Bank of Ghana, Mr Boye Donkor, cautioned BestPoint to be wary of the new clients as some of them might have defaulted in other banks and would want to find solace with it.
Mr Donkor said there was the need for BestPoint to look beyond regional capitals and target district capitals and small villages and provide the right leadership.
The Ashanti regional minister, Dr Samuel Sarpong, cautioned staff to refrain from all manner of illegal and unethical acts, which could negatively affect the image and integrity of the company.
source : graphic.com.gh