Governor of the Central Bank of Ghana, Dr. Ernest Addison
Opportunity International Savings and Loans Ltd. (OISL) is one of the reputable savings and loans Institutions in the country. It was licensed by the Bank of Ghana in June 2004 to operate as a savings and loans company.
The company operates in ten (10) out of the sixteen (16) regions in Ghana, with Thirty-five (35) branches and three (3) agencies, providing innovative financial and non-financial products and services to bring clients at the base of the pyramid into the mainstream financial services, thereby advancing financial inclusion.
The Institution on Friday, 7th June 2024, climaxed its 20th anniversary celebrations with an anniversary dinner at the Labadi Beach Hotel in Accra. The anniversary dinner highlighted OISL's journey and accomplishments over the years, reflecting its growth and commitment to providing excellent financial and non-financial services across the country.
The event was graced by a diverse group of personalities and dignitaries from across the financial landscape. This included its shareholders (Opportunity Transformation Investments Inc. – OTI, KDB Fintech Ltd. and Opportunity Microfinance Ltd. –OMIL), traditional rulers, various Governmental Ministries, Departments and Agencies, past and present Board members, partner organizations and Banks, the media, past and present management and staff, and some esteemed clients of the institution.
The Governor of the Central Bank of Ghana, Dr.Ernest Addison was the special guest of honour for the event. Other dignitaries for the night were His Royal Majesty Dr. Nii Ayi-Bonte II, (Gbese Mantse), Nii Abossey Okai III (Chief of Abossey Okai who represented the GA Mantse, His Royal Majesty, King Tackie Teiko Tsuru II), Rev. Dr. Kwabena Darko (the first Board Chairman of OISL), Mr. Katey Assem (immediate past Board Chairman of OISL), Ms. Alberta Quarcoopome (current Board Chairperson of OISL) Mr. Kwame Owusu-Boateng (the Chief Executive Officer of OISL) and a host of guest from its partner institutions in Uganda, UK and USA.
In his address as the Special Guest of Honor for the evening, Dr. Ernest Addison urged savings and loans companies to enhance their corporate governance practices to facilitate operational expansion.
He assured the industry of the Central Bank’s commitment to its advisory role to ensure all financial institutions adhere to the regulatory requirements and guidelines to foster trust and confidence in the sector.
He asserted that strong risk management, compliance with prudential rules, and proper internal audit functions remain crucial to ensure that regulated financial institutions operate soundly, safely, ethically, and within regulatory and legal boundaries.
Dr. Addison also encouraged savings and loans companies to collaborate with Banks and Telecommunication companies to embrace emerging technologies. Additionally, he assured institutions in the financial sector that the Central Bank will continue to engage with sector players to address the challenges they face.
Mr. Katey Assem, the Immediate past Board Chairman of OISL in his address welcomed guests to the institution's 20th Anniversary celebration, saying “We have stood the test of time, surviving and standing tall as one of the leading Savings and Loans companies in Ghana.”
He attributed the institution's success to its commitment to sound Corporate Governance and Risk Management standards, accountability, transparency, and ethical conduct at every level.
He acknowledged the contributions of past and present board members, staff, and clients. Mr. Katey Assem used the occasion to introduce the new Chairperson of the Board of Directors of OISL, Ms. Alberta Quarcoopome, and expressed optimism for the institution's future success during her tenure as the Chairperson of the Board.
Mr. Kwame Owusu-Boateng, Chief Executive Officer of Opportunity International Savings and Loans Ltd., reiterated in his address the company’s commitment to compliance with all regulatory frameworks and standards.
He emphasized that the institution has made significant progress over the years from just three branches in 2004 to thirty-five (35) branches and three (3) agencies serving over 668,000 clients with focus on key and impacting sectors such as Education, Agriculture, and the Services sector. In addition to the loans that are advanced to clients in these sectors, the institution also provides tailor-made non-financial services to create the right impact on its clients.
He highlighted OISL's achievements over the years, including 45 industry awards since 2018, innovative products such as the Empowerment Loan which is a special product for the physically challenged, and pioneering Micro-Insurance in partnership with Micro Ensure (now Turaco Ghana Limited).
He reaffirmed the institution's commitment to its core values, leveraging technology for sustainable growth and expanding its operations to the remaining six regions in Ghana where the institution does not have physical outlets. “We will continue to push boundaries, break barriers, and make a lasting impact on the communities we serve,” Mr. Kwame Owusu-Boateng added.
Pioneering staff who had served the Institution for the past 20 years were honoured. The ceremony celebrated OISL’s impact on the lives of individuals and communities in Ghana, reaffirming its commitment to its core values of commitment, humility, respect, integrity, stewardship, and transformation.
OISL is a subsidiary of Opportunity International, a global organization with its Head Office in Chicago, USA. The Institution delivers services and programs to clients in thirty (30) countries across the globe, serving over twenty (20) million customers with Micro Banking, Micro Insurance, Agriculture, Education Finance, and Innovative Non-Financial Services
