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Business News of Sunday, 5 May 2013

Source: GNA

GPSL ready to assist small businesses

Golden Pride Savings and Loans (GPSL) limited has entered Ghana’s financial sector to set free small businesses from the quagmire of access to credit through the delivery of quality and efficient financial intermediation.

Johnson Boadi Asamoah, Managing Director of GPSL at the opening of the Obuasi Central branch of the GPSL at Obuasi, said: “Although there has been some increase in real credit in the last few years, small and medium scale enterprises still have some difficulty accessing credit.”

This, according to him, is where he said the GPSL comes in to be a key player in the delivery of quality and efficient financial intermediation offering banking solutions at the door steps of cherished customers. “Our products have been customized to meet the different segments of clientele in the market, from the chief executive officer to his/her business, businessmen and women, traders, artisans employees, individuals and children. Our prices are unmatched against the backdrops of sound financial footing,” Mr Asamoah said.

He said available data in Ghana indicates that 90% of companies registered are micro, small and medium enterprises, and though this target group has been identified as the catalyst for the economic growth, they still face many challenges including access to credit.

He, however, added: “…a major barrier to rapid development of the SME sector is not a shortage of both debt and equity financing but rather a limitation on the part of SMEs to embrace modern business concepts and culture.”

He said GPSL would help to strengthen SME activities to facilitate its vibrant economic activity in Ghana.

“The path of progress of Golden Pride will be guided by an innate urge to reach the peak of our performance and just like the proverbial sycamore tree, give financial roost to you, our valued customers through the delivery of bespoke products and services,” Mr Asamoah said.

The GPSL, owned by the Ghana Mine Workers Union’s (GMWU) investment unit, will open other branches in Tarkwa, Kumasi, Accra, Sunyani and Techiman before the year ends.

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