UniCredit Ghana Sets Pace

UniCredit Ghana Limited is a non-bank financial institution which has been in operation since 1995. The company, formerly Kantamanto Savings and Loans Co. Limited, changed its name in June 2007 after the ownership of the company changed in April 2005.

The company is headquartered at Tarzan House, Kantamanto-Accra and currently has a network of five branches located at Kantamanto, Kaneshie, Apenkwa, Ashaiman and Dome.

The primary focus of uniCredit is to provide financial services that are specifically tailored to the needs of personal customers and micro, small and medium scale enterprises.

According to Stephen Ameyaw, Managing Director of uniCredit Ghana, its core objectives include the provision of financial services through innovative deposit mobilization and credit delivery strategies; the development and offer of attractive products to suit the varied needs of customers both in the formal and informal sectors of the Ghanaian economy.

It also intends to reach out to a large number of clients in its target market, help small savers and borrowers improve on the quality of their life through wealth creation and provide business advisory services to micro, small and medium scale entrepreneurs through training and counseling.

Mr. Ameyaw holds a BSc. degree from the University of Cape Coast, MSc. (Economics) Degree from the University of Ghana, Legon, and a Diploma in Economics of Banking from Finafrica, Italy. He resigned his position as Assistant Director at the Bank of Ghana after 30 years.

“Our primary focus is to provide financial services that are specifically tailored to the needs of personal customers, micro, small and medium scale enterprises. We do this by being the most efficient and effective Savings and Loans Company operating in the microfinance market,” the MD noted.

Products:

In the credit category, the company has ‘Dwetire’ loans, designed for Small and Medium-scale Enterprises (SMEs) who require facilities in excess of GH¢20,000 for working capital or fixed asset purposes. The client is able to operate an account for a minimum of three months to qualify for the facility while clients with active account operations and substantial turnovers may be offered concessionary interest rates. The period for the loan repayment is between 1 and 12 months and benefits to the customer include quick access to loan, flexible loan terms and free business advisory services.

Boafo ye na’ is another loan facility designed for SMEs and importers who need short term facilities to clear imported goods. It is a loan package for existing clients who are into importing and the loan tenure is between 1 and 3 months. Benefits include quick access to loan, flexible loan terms, free business advisory services and concessionary interest rates.

Adanfo pa’ trade loans is a facility carefully designed for micro clients who are already into trading (i.e. buying and selling) and wish to acquire more stocks. It requires the client to operate an account for a minimum of three months to qualify for the facility and the loan amount is between GH¢100 and GH¢20,000 while the repayment is between 3 and 12 months.

On debit products, the company has the children’s account (U-kid account) that is opened with the parent as a trustee. The child gets full control over the account when they turn 18, it comes with competitive interest earned on balances over GH¢100, any amount could be used to start and there is no minimum balance required. Benefits to the child include building a substantial bulk deposit, using the savings as collateral for a loan, providing insurance cover for them for a minimum balance over GH¢100.00 and helping the child to develop a savings habit. Requirements include the child’s birth certificate and a passport size photograph as well a recognized identity card of any of the parent or guardian.

U-check current account is another product targeted at the general public, particularly traders, workers and groups. To subscribe to this product, customers require an identity card and an initial deposit of GH¢10 to open account. They will also be offered real-time transactions in all our branches, i.e. account holders can transact their business in any of our branches irrespective of the branch of domicile of the account and customized cheque books and the convenience of third party withdrawals, among others.

Benefits: No commission on turnover (COT), account holders could get a loan for their business needs (easy access to loans) and earn competitive interest on balance over GH¢10,000.

 

 

 

 

 

 

 

 

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