The Agribusiness Olam International has secured an innovative new type of corporate loan that links pricing to the borrower’s progress towards its digital transformation. The US$350m three-year revolving credit facility is a digital loan (D-loan), a form of positive incentive loan (PIL), which rewards borrowers that achieve pre-arranged targets by cutting their borrowing costs. Olam’s
The Umuchinemere Pro-credit Micro Finance Bank Enugu (UPMFB) disbursed a total of N1.1billion as loans to its customers Economy in 2018. The credit facilities where to micro small and medium scale enterprises, as well as to farmers and low income workers within its operational area that included 10 of the 17 local government areas in
Non-performing loans (NPLs) in the banking sector hit GH¢8.74 billion in June this year, according a report by the Bank of Ghana. The report showed that since the last time the figures were released in April 2018, it has gone up by some GH¢11 million since June. The central bank’s report also indicated that the
The latest Ghana Commercial Bank (GCB Bank) group 2017 financials showed the profit declined from ¢318 million for 2016 to ¢234 million Ghana which is a significant decline in profits for last year. Reasons GCB’s financials were not accompanied by notes, however, a careful look at the financials one can attribute it to a significant
The total stock of loans that banks fear may go bad have reached close to GH8 billion as at June this year, the latest Bank of Ghana Banking (BoG) sector report said. The report which tracked the performances of banks from June 2016 to June 2017 showed the latest numbers translate into a Non-Performing Loan
Managing Director of The Royal Bank, Osei Asafo-Adjei, has added his voice to calls that the Central Bank should not force all banks to attain the same level of capitalisation, saying it could lead to excess capital for some banks, which they could lend to sectors they have no expertise in. When that happens, he
ASA savings and Loans Limited has organized free medical screening and treatment for its clients in the Inchaban community in the Shama District of the Western Region particularly in diabetes, hypertension, and malaria The exercise according to the Regional Manager of ASA Savings and Loans Limited Mr. Haiula Hasan, this forms part of the company’s
Guinness Nigeria Plc has revealed its plans for N39, 700,688,598 rights issue which opened on, Monday, July 24, saying it will be utilised to help repay outstanding loan obligations, and improve the operational and financial flexibility. Guinness Nigeria officials were at the Nigerian Stock Exchange to present a detailed breakdown of the offer of 684.5
Express Capital, having acquired a savings and loans license from the Bank of Ghana and has rebranded as Direct Savings and Loans Limited as it seeks to create and sustain wealth for customers while returning excellent results for shareholders and business partners. As a leading player in financing micro, small and medium enterprises (MSMEs) in
