Business News of Thursday, 13 March 2014
Express Capital, a wholly owned Ghanaian microfinance institution, has opened its new ultra modern corporate office in Accra.
The company incorporated on 19th June 2012, is licensed by the Bank of Ghana to operate a Tier II microfinance business.
Express capital provide microfinance services to micro, small and medium enterprises (MSMEs), traders and market women, employees and the self-employed.
Speaking at the inauguration, Chief Executive Officer of Express Capital, Ben Adu Owusu, said their vision is to become a dynamic financial services provider, creating and sustaining wealth for its clients.
He noted that customer satisfaction is their hallmark, hence, their commitment to delivering excellent returns for its shareholders.
Mr. Adu Owusu, however, bemoaned the cost of capital, which he says remains a major challenge for most microfinance companies.
This challenge, he disclosed, is mainly attributed to the fact that most banks see them as risky in conducting business with because of their insufficient assets and low level of capitalization.
This, notwithstanding, Ben Adu Owusu said they are committed to upholding high corporate governance standards.
“Our core values are customer satisfaction, uncompromised quality, teamwork and respect for eachother”, he noted.
He is therefore hopeful that Express Capital will become one of the top Microfinance institutions in Ghana by 2015.
On his part, Minister of State at the presidency in charge of Financial and Allied Institutions, Fiifi Kwetey, commended Express Capital for the feat chalked.
He urged them to work assiduously to ensure its mission to become a microfinance company in 2015, becomes a reality.
Fiifi Kwetey urged financial institutions to comply with the rules and regulations of the Bank of Ghana.