Adopt technology for financial inclusion, GHASALC charges savings and loans companies

Oct 31, 2016

Embracing technology will assist to drive financial inclusion

Ghana Association of Savings and Loans Companies (GHASALC) through their
Chairman, Kofi Agyapong, has called on savings and loans companies to make use of technology in driving financial inclusion. Speaking at the annual general meeting of the association, Agyapong said "It is in the wake of technology that has pushed us to believe that digital financing is indeed here to drive financial inclusion to a whole new level. Savings and loans companies therefore do not want to be exempted from this new technology." Addressing members on "Digital Financing: The new dawn in banking towards unlimited opportunities for Savings and Loans", Agyapong
expressed strong optimism that collaboration between savings and loans companies on digital financing with ameliorate financial inclusion. GHASALC's operation has increased remarkably
over the years with total assets doubling from GH¢112,282 in 2014 to GH¢225,032 in 2015 while total income jumped from GH¢140,577 in 2014 to 285,502 in 2015, resulting in a net surplus of GH¢90,265 respectively.