By Toma IMIRHE
Barclays Bank Ghana, the country’s biggest bank, has held its 2008 Barclays Microbanking Awards in Accra. The awards, which was the second in an annual series instituted last year as part of the bank’s 90th anniversary celebrations commemorate its partnership with microfinance customers, particularly with “susu” collectors, the Credit Union Associations and the Church Organizations who together comprise the bulk of this business activity.
Barclays Bank launched its microbanking product three years ago and it has proved to be an outstanding success. Already, Barclays is now working with 732 “susu” collectors and has extended loans to them to the tune of GH¢1.5 million to assist them in providing financial solutions for their clients.
On the average “susu” collectors access about GH¢3,000 from Barclays, but in some cases, as much as GH¢6,000. The bank has also been able to mobilize deposits to the tune of GH¢12.1 million from its micro banking partners.
Barclays growing experience with its microbanking customers is being leveraged to accelerate the growth of both its loan and deposit portfolios.
“We have grown our microbanking portfolio substantially since last year’s award,” enthuses Margaret Mwanakatwe, outgoing Managing Director of Barclays Bank Ghana.
“Apart from the “susu” collectors who were our first partners we are now working with credit union associations and some church organisations to enhance access to finance and to further expand our financial inclusion agenda.”
Fundamental to that agenda is the bank’s support of its microbanking customers with a financial literacy programme which focuses on awareness creation on issues of finance and records keeping, introduction to banking products and services and capacity building through seminars and other training programmes.
At this year’s awards, Barclays decided to cover credit union associations as well as church organizations. For the “susu” collectors the award categories included the best in the areas of client growth, deposit growth and susu development. There was also awards for the susu personality of the year and susu female personality of the year.
There are two award categories for church organizations – the best in deposit growth and week-end cash collection. There was also one for credit union associations.
Barclays Bank Ghana, the country’s biggest bank, has held its 2008 Barclays Microbanking Awards in Accra. The awards, which was the second in an annual series instituted last year as part of the bank’s 90th anniversary celebrations commemorate its partnership with microfinance customers, particularly with “susu” collectors, the Credit Union Associations and the Church Organizations who together comprise the bulk of this business activity.
Barclays Bank launched its microbanking product three years ago and it has proved to be an outstanding success. Already, Barclays is now working with 732 “susu” collectors and has extended loans to them to the tune of GH¢1.5 million to assist them in providing financial solutions for their clients.
On the average “susu” collectors access about GH¢3,000 from Barclays, but in some cases, as much as GH¢6,000. The bank has also been able to mobilize deposits to the tune of GH¢12.1 million from its micro banking partners.
Barclays growing experience with its microbanking customers is being leveraged to accelerate the growth of both its loan and deposit portfolios.
“We have grown our microbanking portfolio substantially since last year’s award,” enthuses Margaret Mwanakatwe, outgoing Managing Director of Barclays Bank Ghana.
“Apart from the “susu” collectors who were our first partners we are now working with credit union associations and some church organisations to enhance access to finance and to further expand our financial inclusion agenda.”
Fundamental to that agenda is the bank’s support of its microbanking customers with a financial literacy programme which focuses on awareness creation on issues of finance and records keeping, introduction to banking products and services and capacity building through seminars and other training programmes.
At this year’s awards, Barclays decided to cover credit union associations as well as church organizations. For the “susu” collectors the award categories included the best in the areas of client growth, deposit growth and susu development. There was also awards for the susu personality of the year and susu female personality of the year.
There are two award categories for church organizations – the best in deposit growth and week-end cash collection. There was also one for credit union associations.
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