With over 50 years of experience in responsible financial services, Brac, has launched the Brac Ghana Savings and Loans Ltd, (BGSL) to promote financial inclusion and economic empowerment particularly for women in Ghana’s rural and hard to reach areas. This marks their sixth microfinance institution in Africa.
In his opening address, the CEO of Brac, Mr. Kojo Baffoe-Eghan, stated that the main objective of Brac is to unearth potentials in individuals and communities using the vehicle of microfinance. ‘’ we will be visible in rural communities, and our focus will be on women as catalysts of change’’. He added. “I am grateful for the support of the Bank of Ghana, and we look forward to forging a strong partnership to advance the government’s vision of fostering economic empowerment and financial inclusion”.
Brac Savings and Loans, obtained its full operating license from the Bank of Ghana in August 2023 and serves close to 1000 clients with 99% of them being women.
Bridget Dougherty, Managing Director of BRAC International Microfinance said, “BRAC believes that investing in women is synonymous with investing in the economic and social development of the country. We will not only address the needs of the population previously excluded from access to financial services, we are celebrating the entrepreneurial spirit of Ghanaian women, and supporting them to unlock their potential.” She also thanked various stakeholders for the dedication and commitment shown throughout the journey so far.
Mr Osei Gyasi, Head of Banking supervision at the Bank of Ghana was in full praise for Brac’s dedication to following through and completing all necessary licensing requirements and encouraged all to freely engage and transact business with the company. He ended his speech by declaring Brac Ghana Savings and Loans duely launched.
In attendance were Officials from the Ministry of Finance, GIPC, and Ing. Kenneth Ashigbey, chief servant of the Ghana chamber of Telecommunications.
The event was expertly hosted by Mamavi Owusu-Aboagye of the Multimedia group and the side attraction included poetry from the internationally renowned 11 year old Ghanaian poet, Nakeeyat Dramani.
