- 25 savings and loans companies in Ghana have been left to operate currently.
- This follows a massive clean up by the Bank of Ghana in the sector
- The central bank said the 25 companies are in good standings and are able to meet the obligations of customers.
These 25 savings and loans companies in Ghana are currently in good standing and are operating
The Bank of Ghana on Friday, August 16, 2019, revoked the licenses of 23 savings and loans companies as part of its measures to sanitize the financial sector.
The central bank revealed that these companies were insolvent and could no longer meet the obligations of customers.
It said, “It is the Bank of Ghana’s assessment that these institutions have no reasonable prospects of recovery, and that their continued existence poses severe risks to the stability of the financial system and to the interests of their depositors.”
Meanwhile, the central bank’s action left 25 savings and loans companies in good standing.
These banks are currently in good standing, according to the BoG and are able to meet the obligations of customers.
Here are the Savings and Loans Companies that are currently in good standing, according to the BoG
1. ABii National Savings and Loans Ltd
2. Adehyeman Savings and Loans Company Ltd.
3. Advans Ghana Savings and Loans Ltd.
4. Asa Savings and Loans Company Ltd.
5. Assurance Savings and Loans Ltd.
6. Bond Savings and Loans Ltd.
7. Best Point Savings and Loans Ltd.
8. Bayport Savings and Loans Plc.
9. Direct Savings and Loans Ltd.
10. Equity Savings and Loans Ltd.
11. Golden Link Savings & Loans Ltd.
12. Golden Pride Savings and Loans Ltd.
13. Izwe Savings and Loans Ltd.
14. Jins Savings and Loans Ltd.
15. Letshego Ghana Savings and Loans Plc
16. Multi Credit Savings & Loans Co. Ltd.
17. Opportunity International Savings and Loans Co. Ltd.
18. Pacific Savings & Loans Co. Ltd.
19. Pan-African Savings and Loans Company Ltd.
20. Progress Savings and Loans Ltd.
21. Services Integrity Savings and Loans Ltd.
22. SIC Life Savings and Loans Ltd.
23. Sinapi Aba Savings and Loans Company Ltd.
24. The Seed Funds Savings and Loans Ltd.
25. Utrak Savings and Loans Ltd.
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