Opportunity International opens branch in Tamale

Multiple Award winning Savings and Loans Company, Opportunity International, has extended its reach to cater for customers in the Northern Region by opening a new permanent branch at Tamale.

The new branch which is a step to fulfilling the company’s promise to extend its services to the Northern Part of Ghana adds up to the already existing 45 branch network of the financial institution. The branch will also create employment for qualified personnel to add up to the existing 782 dedicated workforce of Opportunity International.

Speaking at the opening ceremony of the branch, Mr. Kwame Owusu-Boateng, CEO of Opportunity International Savings and Loans Limited re-emphasized on the Company’s commitment to support Small and Medium Scale enterprises which are integral part of the Ghanaian economy.

“The focus of our business has been on sectors of the economy that is dominated by small and medium sized enterprises that are mostly in need of very small loan amounts for injection into their businesses. Evidence from our transformational impact has shown that our loans have had significant impact on the lives, families and communities of our clients”. From such small beginnings we are able to grow our clients and support them right through the process to the top, where they become significant players in their industry and communities.

Honourable Abdul Hanan Gundadow, Municipal Chief Executive for Tamale, commended Opportunity International for being a dependable partner to Small and Medium Scale Enterprises. “I greatly commend you in choosing to serve this segment of micro and small scale entrepreneurs who rarely keep records of account, have no collateral for loans and whose business needs are minute”.

He entreated Opportunity International to serve the Tamale community and help transform the lives of market women in the metropolis. “As you enter the Tamale market, we expect that you will serve our community with your life changing products and services so that we shall transform the lives of our market women and other micro clients”.

Regional Manager of Bank of Ghana, Mr. J.T Kudah used the branch opening as an opportunity to advice customers to pay back when they borrow from financial institutions.

This, he said, will enable the institutions render the best of support to businesses in the Ghanaian locality. “I wish to caution customers that whenever they borrow they must pay back the amount with interest.

"This is because funds lent out come mainly from accumulated deposits from other customers, which are repayable on demand. Failure to repay credit facilities prevents other customers from accessing funds to support viable economic initiatives while limiting the viability of the institutions’ operations”.

Mr. Kudah also cautioned the public to be mindful of unauthorized financial institutions acting in the name of microfinance and investment. “The general public is advised to be mindful of such emerging illegitimate institutions and should demand of them their operating license issued by the Bank of Ghana”.

With the introduction of a range of electronic products and services including funds transfer, airtime top-up, and balance enquiry, Opportunity International has increased its loan portfolio to GHS88.4 million with total deposit clients of over 425,000 as at June 2015. The company has deposit balances of GHS85.5 million.

Voted “Non-Bank Financial Institution of the Year, 2013” by the Chartered Institute of Marketing, Ghana, Management of Opportunity International Savings and Loans Limited envisions to reach out to 1 million clients by 2020.