The meetings were hosted by Opportunity International Savings and Loans, which is an implementing partner for Opportunity Global Operations.

The meeting also afforded the Board members and staff a chance to visit clients in Accra and Kumasi and to see first-hand the operations of OISL and what the institution was doing to transform the lives of clients in Ghana. The participants commended OISL for the great work done in touching lives in tremendous ways.

The Management and staff of OISL was excited that Ghana was selected as the destination for their Board meeting and as a kind gesture, held a corporate dinner at Movenpick Ambassador Hotel in their honour. The celebration dinner was graced by high profile personalities from government and the corporate community in Ghana as well as clients of OISL. Among the special guests were Mr. Osei Gyasi, the Head of Banking Supervision Division, Bank of Ghana and his deputy, Mr.  Sampson Akligoh Special Economic Advisor to the Minister of Finance, Mr. Asare Ayesu, representative of the Deputy Minister of Finance, Reverend Dr. Kwabena Darko, former Board Chairman of OISL and Chairman of Darko Farms, Mr. Ebo Hewton, Board Chairman of Sinapi Aba Savings and Loans, Mr. Yaw Gyamfi, Executive Secretary of GHAMFIN and Mr. Tweneboah Kodua Boakye, Executive Secretary of GHASALC among others.

The invited dignitaries shared fraternal messages during the dinner. The Head of Banking Supervision commended OISL for its strong performance leading to a solid balance sheet and sustainable operation over the years and encouraged the institution and its management and Board to keep up with its good standards.

The Chief Executive Officer, Mr. Kwame Owusu-Boateng and the Board Chairman of OISL, Mr. Frazer Hume both acknowledged the honour done them to host the meetings in Ghana. They welcomed the guests to Ghana on behalf of the Board, Management and staff and expressed appreciation for the time the Boards had taken from their busy schedules to visit their valued clients in the field.

The CEO of Opportunity International USA, Mr.  Atul Tandon expressed optimism that by the strides made by OISL in Ghana, the dream of reaching one million clients in Ghana by 2020 was on course.

This was re-echoed by the Chairman of the Boards of Opportunity International USA, Mr. Dave Tolmie. Additionally, the chairman of the Board of Opportunity International UK, Mr. Cliff Hampton and UK CEO, Mr. Edward Fox, expressed their continuous support for the operations of OISL.

The gathering was graced by the Opportunity International Choir which was made up of some staff of the institution from throughout Ghana and cultural troupes who also provided songs and cultural displays.

Opportunity International is a non-profit organisation with a network of 43 partners across the globe consisting of support and implementing partners. Opportunity International – US, UK, Canada, Australia and Germany raise funds to support implementing partners in Africa, Asia, Latin America, and Eastern Europe.

Opportunity International Savings and Loans Limited (OISL), is a leading savings and loans institution in Ghana. OISL is at the forefront of delivering financial services to help transform the lives of clients.

It was licensed by the Bank of Ghana in June 2004 and has a client base of 502,000 as at the end of February 2018. Opportunity International Savings and Loans Limited is an affiliate of Opportunity International Global.

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By: citifmonline.com/Ghana

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According to the Deputy CEO, Mr. Samuel Afful, the aim of observing this day is to increase awareness and understanding of disability issues and offer staff of OISL the opportunity to interact with Persons with Disability (PWDs).

Mr. Afful expressed his admiration for the discipline exhibited by the students and lauded the efforts of the teachers and mentors for their selfless service. He also assured the school that Opportunity International will continue to support persons with disability in diverse ways as has been done over the years.

To mark the day, OISL repainted three blocks of the school and donated food items totaling GHS30, 000 as part of its corporate social responsibility.

The Assistant Headmaster, Mr. Atsu Homadzi on receiving the donation on behalf of the school expressed appreciation to OISL for the show of love and concern for the welfare of the students. He reiterated that, ‘disability is not inability’ as boldly inscribed on the wall of the assembly hall.

Rather, PWDs require empathy but not sympathy such that they should not be pitied but be provided with opportunities to enable them overcome their disabilities and become responsible citizens. Mr. Homadzi appealed to other benevolent organizations for support.

Reverend Afum Baah, the School Chaplain was also full of praise for the prompt response of OISL to his appeal for a facelift of the school building.

Opportunity International Savings and Loans is the only financial institution that has a dedicated product specifically tailored for people with disability. To date over 500 PWDs.

have benefited from the company’s concessional loan dubbed ‘empowerment loan’ across the country. Opportunity International has been in collaboration with the Ghana Federation for Disability Organizations over the past four years supporting them in diverse ways to enjoy meaningful lives.

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Source: Opportunity International

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“We see banks interest and lending rates coming down which are good indications because businesses and individuals can now borrow at a cheaper cost. These will also enable small and medium sized enterprises which form the bulk of businesses in the formal and informal sectors to borrow at a lower rate, produce more goods and services and be able to repay their loans.”

Mr. Owusu – Boateng said this at a media briefing after the Annual General Meeting of Oikocredit, a cooperative investment firm.

According to the Central Bank’s latest monthly Annual Percentage Rates (APR) and Average Interest (AI) report, the average interest banks charge on loans and advances has seen a three-time consecutive drop. The industry average for loans and advances, as at the end of March, dropped to 26.7 percent from February’s rate of 26.9 percent, which in itself was a drop of 0.9 percent from month- end January 2017.

In response to this trend, Opportunity International, being a customer centric institution has reduced its interest on all SME loans by 6% per annum to reflect the current trend of the falling interest rate. It is envisaged that as the market rates continue to drop, the institution will continue to pass this benefit back to its cherished customers through reduced interest rates.

Mr. Owusu-Boateng further stated that “with good rates Opportunity will be able to reach out to more people with same resources. There will be high repayment rates for the banks to get more liquidity. The reverse is harmful as non-payment of loans results in high non-performing loans (NPLs).”

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Source: Opportunity International

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A total of sixty (60) private schools from which the pupils were selected from have benefited from this program. The beneficiaries were selected from schools whose proprietors are School Improvement Loans clients of Opportunity International.

Student beneficiaries:

•  are in their final 2 years of primary or secondary education
• come from families who have  difficulties in paying school fees
• are exceptionally talented or intelligent
• were highly recommended by their teachers to receive financial support

The selection criteria for beneficiaries was a transparent process involving the school proprietors and teachers. They identified the top 3 pupils with high performances yet struggled to pay their fees.

Some of the qualified school representatives converged at the Highgate Hotel in Accra for the presentation of the cheques for their students during a workshop programme on ‘School Leadership Professional Development’. The CEO of Opportunity International, Mr. Kwame Owusu-Boateng praised the proprietors for their contribution to education in Ghana.  He encouraged them to take advantage of the products and services available under the education finance programme at Opportunity International to expand their school infrastructure.  The representatives subsequently expressed their appreciation to Opportunity International for their innovative products that continue to meet the needs of parents as well as the schools.

This scholarship is funded by The MasterCard Foundation as part of its Africa Growth and Innovations Initiative project.

Opportunity International Savings and Loans is a leading Non-Bank Financial Institution, licensed by Bank of Ghana with a focus on formal transformational Banking in the Micro Finance space. It currently serves a total of 485,000 depositors across Ghana and it is a subsidiary of Opportunity International, which has 47 partners in 24 countries across the globe.

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Source: Opportunity International Savings and Loans

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The financial institution has recorded deposit balances of GHS124.7 Million as compared to GHS136, 000 in 2004. The figures were disclosed as management held a ceremony to re-open the Berekum branch of the company.

The branch serves a client base of 6,556 as of February 2016. It has disbursed a total of GHS8, 752,862 loans since inception and has accumulated a total of GHS 1,657,363 in client savings at the Berekum branch.

Speaking at the ceremony, Deputy CEO of Opportunity International, Mr. Samuel Afful labeled the records as impressive from a Savings and Loans Company in a reactive economy.

“We are very impressed with the records this company has realized 13 years on after its establishment in Ghana. Opportunity International started with an initial capital of a little over GHc2 million. As of December 2004, our clients totaled 9,400 with a gross loan portfolio of GHS956, 000 and total deposits of GHS136, 000. These figures have grown enormously. As at December 2016, loan portfolio had grown to GHS93.8 Million (8,838% growth from 2004), deposit balances of GHS124.7 Million (94,756% rise) and total deposit clients of 472,329 (4,959% growth).”

Mr. Afful noted that the improvement in the institution’s records brings to bare that they are on the right track to achieving their 2020 target of acquiring 1 million customers and thus help break the poverty cycles through the provision of products and services that are tailored to the needs of our clients.

The institution’s branch network has increased from 3 in 2004 to 44 in 2017 spread across the length and breadth of the country.

Opportunity International Savings and Loans is a leading Savings and Loans company in Ghana which is at the forefront of delivering transformational services to help transform the lives of clients it serves.

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Credit: Opportunity International

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