Abii National Savings and Loans Company has hinted to Citi Business News that it intends to become a universal bank soon.
Abii National savings and loans company which started with a stated capital of 7 million cedis, when it obtained its license from the bank of Ghana last year, now has a stated capital of 10 million cedis and hopes to hit 15 million cedis by next year.
With a focus on micro businesses Abii National currently has a customer base of about 2,900.
MD of Abii National Godfred Osei Boakye tells Citi Business News his outfit is working to ensure it becomes a bank in two years.
‘We want to become a universal bank, we are working towards that, but this will also be subject to Bank of Ghana’s approval’
It also plans to expand its operations beyond the country, when it becomes a universal bank.
In Ghana it has operations in the Greater Accra Region as well as the Ashanti Region and hopes to open a branch in Takoradi in the Western Region by the end of the year.
The country has over 20 savings and loans companies, Godfred Osei Boakye tells Citi Business News, one of the challenges it faced in the beginning of its operations, was defusing the notion that savings and loans companies are not trust worthy.
Meanwhile the company is expected to by the close of the year commence internet banking.
By: Vivian Kai Mensah/citifmonline.com/Ghana