Business News of 2014-03-29

Golden Pride opens new branch at Tudu

Traders at Tudu and other parts of the central business district (CBD) in Accra have been given a new lease of financial hope with the opening of a branch of Golden Pride Savings and Loans Limited at Tudu.

Although Golden Pride is entering a very competitive banking market within the CBD, it has a clear and most assuring message for its potential customers: “Your banking struggles are over”.

The opening of the Tudu-Accra branch brings the number of branches of Golden Pride to four, after two branches in Obuasi and one in Tarkwa, with the corporate aim of supporting the development and growth of small and medium enterprises (SMEs).

Golden Pride is a savings and loans institution committed to providing affordable but sustainable financial services that address the needs of individuals and SMEs.

The financial institution, a subsidiary of the Ghana Mineworkers Union (GMWU), has the view of tapping the potential of SMEs for the economic growth of the country.

In that regard, Golden Pride, according to its Managing Director, Mr Johnson Asamoah Boadi, has developed: “well thought-out and tailor-made products and services that will be easily accessible to the SMEs”.

The product range of the bank includes Sikafutro, Mfitiase account, Premium account, Royal save, Precious kidz, fixed deposit and current account, all with the aim of satisfying the needs of potential customers.

“I have no doubt in my mind that these products will make our customers feel important, valued and very much assured that the solution to their banking needs is now at the threshold of Golden Pride,” Mr Boadi said.

An economist and investment consultant, Mr Kwame Pianim, who was the guest of honour at the official opening of the bank, lauded the leadership of the GMWU for venturing into the banking industry.

He advised the staff of Golden Pride to be flexible in their operation by opening the bank early, around 6 a.m., and closing late at 7 p.m. in order to address the banking needs of traders, majority of whom operate within that period.

Mr Pianim said investment in the financing of SMEs could be very risky but he reckoned that the bank could manage the risk by developing an intimate relationship with the SMEs.

The Board Chairman of Golden Pride and General Secretary of the GMWU, Mr Prince William Ankrah, urged the staff of the bank to take the market by storm and demonstrate what he described as “the vital statistics of Golden Pride” to its customers.

“We are not here to joke; we are here to do business and to create customer intimacy,” he remarked. He cautioned against sexual harassment of the female staff and stealing, adding, “If you steal, we’ll jail you”.

Soon after the opening ceremony, many traders stormed the banking hall, eager to become the first customers to do business with Golden Pride.