After almost a decade of being a leading Savings and Loans company in Ghana, the financial institution has progressed to become The BEIGE Bank.
At a brief ceremony to outdoor the bank on Thursday, December 15, 2017, CEO of BEIGE, Mike Nyinaku, said the progression from a savings and loans company to a bank will sustain the wind of change that his blowing in the entrepreneurship space.
“There’s a wind blowing. It’s a wind of change. It’s very contagious and stimulating. This wind is carrying with it a feeling of hope, self-belief and somehow an aura of patriotism. Suddenly people of Ghanaian descent are thinking big and global in spite of the obvious lack of resources.
“Let’s take advantage of this wind and galvanise Ghanaians into action and endeavour. Keeping in mind, however, that many of these entrepreneurial adventures may fail but I believe that if one out of every 10 succeeds, the wheels of prosperity would gradually be turning in our favour, one business at a time,” he said.
He lauded the central bank for facilitating the process to become a bank; customers for their unwavering support and everyone who “in diverse ways supported us – materially, physically, emotionally.”
Mike Nyinaku reiterated BEIGE’s commitment to delivering tailor-made services that best satisfy the needs of the consumer.
He noted that The BEIGE Bank will focus primarily on the over 80% economically active people in the country.
He revealed that these people fall within the SME industry and indicated The BEIGE Bank’s preparedness to deliver quality products and services as they have done since its inception.
“We are a traditional SME financing institution. That’s where we have built out capacity and that’s where can play with our competitive strengths. We do not see ourselves veering into corporate banking at least for the first 5 years of our existence. We will play where we are good at. More than 80% of the economically active population of this country are in the SME space. That is big business” he disclosed.
BEIGE is a financial services firm with business operations in Banking, Pension, Insurance and Investments.
It began operations with one branch in 2008 and now boasts of over 70 branches across the country.
It is also considered to be the largest Savings and Loans company to be given the Universal Banking Licence to operate as a bank in Ghana.