Multi credit savings and Loans Ltd, 24 others in good standings to operate – BoG

 

The Bank of Ghana (BoG) in its recent report says Multi Credit among other 24 Savings and Loans companies and 11 finance houses are currently in good standing and would, therefore, remain operational in the country.

The BoG some few days ago revoked the licences of twenty-three (23) insolvent savings and loans companies and finance house companies in the
country which resulted in a suspended panic among clients saving in the various savings and loans in the country.

 

Executive Secretary of the Ghana Association of Savings and Loans companies, Tweneboah Kodua Boakye
Executive Secretary of the Ghana Association of Savings and Loans companies, Tweneboah Kodua Boakye

 

The Bank of Ghana subsequently released the remaining savings and Loans which are currently in good standings with all the requisite documents permitting their operational status in Ghana.

According to a statement from BoG, “The revocation of the licences of these institutions has become necessary because they are insolvent even after a reasonable period within which the Bank of Ghana has engaged with them in the hope that they would be recapitalized by their shareholders to return them to solvency.”

Speaking to the Managing Director Of the Multi Credit Savings and Loans Ltd, Mr Stephen Boateng popularly known as Kessben indicated that, Multi Credit has been in existing for over twenty years been the oldest in the country with a hard earned reputation. It is also the only one among the current saving and loans authorised by the bank of Ghana that has the largest number of branches in all the sixteen regions of Ghana.
Management of Multi credit are therefore working assiduously to serve customers with the best financial products and services and pledged their commitment to continue upholding their diligence and integrity in the area arena of savings and loans.

Mr Kwabena Kesse

 

Mr Kwabena Kesse (Kessben) is a famous business mogul who hails from the Ashanti region and is also noted for outstanding portfolio of businesses like a Travel and Tour Agency, Forex Bureau, Kessben Estate and Housing, Kessben Driving School, Kessben Shipping, Forwarding and Trading Ltd, Fosua Hotel and Kessben Resort Centre, Kessben University college, Kessben FM / TV, Multi Insurance company Ltd just to name a few.

Full List of licensed Savings and Loans companies as at August 16

Multi Credit Savings & Loans Co. Ltd
ABii National Savings and Loans Ltd
Adehyeman Savings and Loans Company Ltd.
Advans Ghana Savings and Loans Ltd.
Asa Savings and Loans Company Ltd.
Assurance Savings and Loans Ltd.
Bond Savings and Loans Ltd.
Best Point Savings and Loans Ltd.
Bayport Savings and Loans Plc.
Direct Savings and Loans Ltd.
Equity Savings and Loans Ltd.
Golden Link Savings & Loans Ltd.
Golden Pride Savings and Loans Ltd.
Izwe Savings and Loans Ltd.
Jins Savings and Loans Ltd.
Letshego Ghana Savings and Loans Plc
Opportunity International Savings and Loans Co. Ltd.
Pacific Savings & Loans Co. Ltd.
Pan-African Savings and Loans Company Ltd.
Progress Savings and Loans Ltd.
Services Integrity Savings and Loans Ltd.
SIC Life Savings and Loans Ltd.
Sinapi Aba Savings and Loans Company Ltd.
The Seed Funds Savings and Loans Ltd.
Utrak Savings and Loans Ltd