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Business News of Sunday, 20 January 2013

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1st National signs loan deal with Goodwell

First National Savings and Loans (FNSL) Company, one of fastest growing financial institutions in the country, has signed a convertible $2-million loan agreement with Netherland-based Goodwell Micro Development Company.

The loan facility will allow FNSL to expand credit facilities and other forms of services which it offers to its customers and the unbanked in the country.

Speaking at the signing ceremony yesterday in Accra, the Chief Executive Officer (CEO) of FNSL, Mr. Patrick Annumel, said the loan facility will help his company attain its target of reaching out to over 1 million customers by 2014.

He went on to add that the facility will also strengthen the relationship between his outfit and Goodwell Micro Development Company.

He thanked the facilitators, JCS Investments Limited, for aiding such a partnership. A partner at Goodwell, Els Boerhof who was present at the ceremony, explained that her company’s willingness to partner FNSL stems from their shared vision to make banking available to the average man on the street.

For her part, the CEO of JCL Investment, Patricia Sarfo, was optimistic that the deal will help the two institutions promote rural investment in the country.

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