Pan-African Savings and Loans seeks dominance over sector

EB-Accion Savings and Loans Company Limited has rebranded to Pan-African Savings and Loans with a pledge to introduce innovative products and services that will dominate the microfinance business in the country.

The company is confident that its new status and brand will complement efforts aimed at ensuring that the company becomes a model in microfinance banking on the continent and Ghana in particular.

The decision to rebrand was informed by the company’s vision of becoming “the leader in the microfinance sector in Africa”, the Managing Director, Ms Emelia Atta-Fynn, told the Daily Graphic in Accra.

“This is part of measures being undertaken to strategically position ourselves to become a market leader on the continent,” she added.

The company is a collaborative initiative of Ecobank Ghana, Ecobank Transnational Incorporated (ETI), ACCION Investments and the International Finance Corporation (IFC), the private sector support arm of the World Bank Group.

Its main objective is to provide financial support to low-income earners as well as help rope in the unbanked population into the formal financial system.

After years of operation, Ms Atta-Fynn said the company had achieved that objective and was now yearning for more challenges.

“Pan-African Savings and Loans will continue to make savings and access to finance much more relevant to the unbanked, low-income earners, micro, small and medium businesses, facilitating the creation of wealth and employment for our target market using credit and savings in a more convenient manner,” she said.