Best Point Savings and Loans to increase support for Small and Medium Enterprises (SMEs) in 2022

Managing Director for Best Point Savings and Loans, Dr. Fred Safo-Kantanka has disclosed that his outfit has put measures in place to support Small and Medium Enterprises (SMEs) to boost their growth.

He said this is part of their target for 2022 because the role of SMEs in ensuring the industrialization the country envisioned cannot be underestimated.

“Next year we are focusing on SMEs. We want to support the SMEs, those in the market, the ‘Kayayo’ and the petty trader. We will allocate cash for the SMEs. The support will come in the form of allocation of cash, about 50percent of our portfolio we go in support of them. They say industrialization is the engine for economic growth, but have we thought about Small and Medium Enterprises? If we don’t pay attention to them, the global outlook will not be achieved,” he said.

He disclosed this at the company’s maiden carols night programme. “Today marks a special event in the history of Best Point Savings and Loans Ltd. Today, we are witnessing this maiden event of festival of nine lessons and carols. Through this event, we want to show appreciation to God for his showers of blessings on us throughout the year. Indeed, He has been good to us,” he noted.

Speaking about how the company has fared in 2021 he said with determination, hard work and support from management and staff, they were able to bridge all gabs and as of November the company has exceeded its profit target for the year.

He cited the institution’s digital banking service launched in September this year dubbed ‘Wo Phone Nie, Wo Sika Nie’ which seek to provide an all-inclusive virtual banking experience adding that it has chalked a lot of success, in that they anticipated 4,000 customers but as at December, 14,000 customers have subscribed to the service.

This, he said, is an encouragement to move from their comfort zone to develop products which will improve the lives of customers, for that matter it will introduce the ‘Wo Phone Nie, Wo Sika Nie’ mobile app in 2022.

“Our loan disbursements, deposits and profitability have increased tremendously, due to the re- organization, re-tooling and constantly encouraging staff to move out of their comfort zones and chart a path that will position Best Point on the road to success,” he noted adding that his outfit is poised to strategically position itself to achieve greater success in 2022 and that their budget for next year is ambitious,” he noted.

For his part, the Board Chairman of Best Point, Isaac Emmil Osei-Bonsu urged staff to improve the standard of achievement attained in 2021, pledging the board’s willingness to provide any assistance necessary to meet demands and company’s target for 2022.

“The board is very optimistic of the coming year. We are poised to give you all the needed support to be efficient and be able to achieve your targets. We are more than ready to provide whatever meaningful assistance you might require to make you comfortable in undertaking your tasks,” he said.