BEIGE Capital positions itself

In the past couple of years, the Bank of Ghana has undertaken several measures to strengthen the financial industry and enable players to participate in the emerging sectors of the economy.

Some of these measures include the increase in the minimum capital requirement, licencing of the microfinance industry amongst others.

There has been a varied response to these measures. The increase in the minimum capital requirement, for instance, is considered by some local bank executives to be disadvantageous to local banks and giving foreigners greater control and influence.

As part of efforts to also participate in a bigger way, BEIGE Capital -- a savings and loans company -- has begun positioning itself strategically.  

Two of the company’s senior managers, Dawda Hafisdeen, Head of Region for Ashanti, and Jonathan Sam, a Branch Chief Executive, went on a study tour of Kenya, the economic powerhouse of East Africa and home of Micro Finance excellence in Africa.

This tour was to study the success-story of some of the leading banks in Kenya so BEIGE Capital could benchmark itself with best international practice. BEIGE Capital is getting ready to go national by 2014 and continue to make significant contributions to the fast-growing financial sector.

The tour afforded the team an opportunity to have a practical feel of the banking industry in Kenya, and to also learn aspects that can help improve our operations and service delivery.

The team also learnt strategies used by these leading banks that make them very successful among the 43 banks in Kenya.

It also shared experiences with senior management of these banks on product development and innovation.

At BEIGE Capital, human capital is considered the most important asset. As a result, such study tours also form a part of the executive development programme of BEIGE Academy, the Learning and Development arm of The BEIGE Group.

 In a related development, the progressive strides the company is making was once again recognised when the Company won the Young Professional Role Model Award -- Organisation Category awards by Young Professionals Youth Coalition Initiative -- and Mike Nyinaku, the CEO of the company, was also awarded the Financial Services Excellence and Youth Personality (Male Category) Awards at the recently held National Youth Achievers Awards.

BEIGE Capital started operations in 2008 and currently has branches located in Accra, Tema, Kasoa, New Abirem and Kumasi. It is a subsidiary of The BEIGE Group, a Ghanaian-owned investment firm with interests in finance, hospitality, real-estate, logistics and mining.

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