AGT eyes commercial bank status by 2018

AGT Microfinance, a Ghanaian-owned company, says it is poised to attain the status of a commercial bank by 2018, a move it said is based on the company’s solid financial position.

The company currently has 14 branches with a total asset base of GH¢16,711,519 as at March 2014, and stated capital of GH¢2,551,787.

The company is targetting a doubling of its branches to spread across the country and better serve its numerous customers and the general public.

“We aim to provide an integrated banking and financial services solution to the underprivileged poor and unbanked in our target societies, through the provision of micro-credit and the inculcation of savings habit among our people,” said Adams Asabutei, Managing Director of AGT.

He said this at the thanksgiving service of the company’s 5th anniversary ceremony, held at the Pentecost International Worship Centre (PIWC) at Sakumono in Accra.

He said the company has for the past several years supported small and medium enterprises to improve their businesses through the provision of micro-credit.

Through its 5th anniversary celebration, the company organised a free-health screening for communities where it operates. It also organised an awards’ night to reward it loyal customers.

According to Mr. Asabutei, the company was able to achieve these successes through the help of God, who gave them the wisdom to run the company throughout its inception.

“To God be the glory for the good works He has done. Had it not been Him, the company would not have gotten this far. We started with many, but not all were able to survive.”

AGT has tailor-made products to meet the needs of it numerous customers: these are AGT Coupon, an investment product whereby a customer decides to put his/her funds into an account that yields attractive returns on yearly basis. This product is designed for investors with a long term focus;

AGT Fixed Deposit is an investment product whereby the customer decides to put his/her funds into an account that yields attractive returns for a fixed period of time;

There is also AGT Kiddies Account, an account designed to enable parents build savings for their wards till the child attains 18 years of age. This product gives your child a head-start in life;

The company also has a savings account specially tailored to encourage clients to set aside a portion of their income while earning interest on their savings.