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REPORT ON THE SURVEY OF WHOLESALE FUNDING FACILITIES WITHIN THE MICROFINANCE SUB-SECTOR
2A: General Information on Wholesale Lenders within the Microfinance Sub-Sector
INSTITUTIONS Postal Address Telephone Physical Business Legal Status Year & Name & Title Contact Person
Contact Location Line Country of of CEO.
Public Institutions Registration
MASLOC PMB 261 021-782527/8 29 3rd Circular Rd, Non Bank By Executive 2004 Mr. Lawrence Phil Cliff Aye- Gatsey
Cantonment, Accra Cantonments. Financial Instrument Prempeh,
Inst. CEO
Social Investment P.O.Box CT 3919 021- 118921-3 Off- Elwark Government 1998 - Louis Asomaning- Bimpong
Fund(SIF) Cantonment, Accra Stadium Road Government Ghana (SME specialist)
CBRDP P.O.Box CT 3742 0244-293324 Off Elwark std. Rd. Government Govt. Agency 1999 Clement -
Cantonment, Accra Cantonment, Ghana Nminibapiel
Accra (Director)
Millennium Development PMB 56, Std. Post 021-666 619 6th Floor Heritage Government Govt. Agency - - Yaw Brantuo
Authority (MIDA) Office. towers, Accra
Private Institutions (Banks)
ARB Apex P.O.Box GP 20321 021-772129, No. 5 9th Road Bank Ltd. Liability 2002, - A.R Iddi- Puyo
Accra-North 771738 Game A. Nasser Ghana (Ass. Manager, Credit)
Avenue
Agric Development P.O.Box 4191 Accra 021-770403/ 37 Ind. Avenue Bank Ltd. by 1965 Mr. Yaw -
762104 Guaranteed Opoku
Atuahene (Ag.
MD)
CAL P.O.Box 14569 021-680061-69/ 23 Independence Bank Ltd. Liability 1990 Robert Bentil
Accra-North 680079 Avenue Accra Ghana (Dir. Retail & Buss. Banking
No. 19, 7th Ridge Ltd. Liability Ghana Sam Ashitey- Abdulai Abdul- Rahman
ECOBANK PMB GPO, Accra, 021-681166/7 Avenue Ridge Bank Comp. Adjei (MD) ( Head SME banking)
West
Fidelity PMB 43 Cant. Accra 021-214490 Ridge Towers, Bank Ltd. Liability 2006 - Mr. Yaw Oteng (Snr.
Ridge, Accra Comp Ghana Manager SME Credit Mgt.)
Intercontinental P.O.Box GP 353 0244-335932 Intercontinental Bank Ltd. Liability 2006 Ghana - Nelson K. Ofori,
Accra. plaza, Starlet 91 (Mgr. MFI Banking)
Road, Accra
Merchant P.O.Box 401 Accra 021-666335-6 44 Kwame Bank Ltd. Liability 1972 Mr. Paul Baar Fred Harding-Amoo
Nkrumah Avenue Ghana Sackey Ag MD Man. Corp.& Int. Banking
Prudential PMB GPO 021-781200-7 8 Nima Avenue, Bank Ltd. Liability 1996 - Mr. Baah (Man. Risk &
Accra Ring Road Central, Ghana Credit )
Accra, Ghana
The Trust Bank P .O. Box 1862 021-240049 68 K. Nkrumah Bank Ltd. Liability 1996 - Chris Akorng, Account
Accra Avenue Accra. Manager, Institutional
Banking
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REPORT ON THE SURVEY OF WHOLESALE FUNDING FACILITIES WITHIN THE MICROFINANCE SUB-SECTOR
International Resident Legal Status Year & Name & Title Contact Person
Institutions Postal Address Telephone Physical Business Country of of CEO.
Contact Location Line Registration
Oiko Credit P. O. Box 6290 021-244750 - Development - - - Muriel Edusei
Accra-North Financing
Institution
UNDP P. O. Box 1423 021-776420 Trinity House Development International - - Mr. Ansong Denkyi
Accra–North Ringway Estate, Institution Organization
Osu
IFC P. O. Box CT 2638, 021-513156 / Hse#1 Central International - 1956 - Ms. Bridgette Amaoku
Cantonments-Accra 513157 Link Street, South Financial
Legon Institution
SPEED Ghana Box CT 5268, 021-778834 / 5th Circular Road NGO - - - -
Cantonments - 772866 Extension, Labone
Accra
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REPORT ON THE SURVEY OF WHOLESALE FUNDING FACILITIES WITHIN THE MICROFINANCE SUB-SECTOR
2B: Funding Requirements for MFIs
FUNDING CRITERIA
INSTITUTION
Government Legal Status Required Min. Duration No. of Active Average Loan Min Loan Portfolio Min Savings Percentage Other Criteria
of Operation Clients Size Volume Deposits of Women
MASLOC Must be recommended by Must be recommended by Must be Must be Must be Must be - Must be
GHAMFIN or CUA GHAMFIN or CUA recommended by recommended by recommended by recommended by recommended
GHAMFIN or CUA GHAMFIN or CUA GHAMFIN or CUA GHAMFIN or CUA by GHAMFIN
or CUA
Social Investment Must be recommended by Must be recommended by Must be Must be Must be Must be - Must be
Fund(SIF) GHAMFIN or CUA GHAMFIN or CUA recommended by recommended by recommended by recommended by recommended
GHAMFIN or CUA GHAMFIN or CUA GHAMFIN or CUA GHAMFIN or CUA by GHAMFIN
or CUA
CBRDP Must be registered as At least 2 years > 25 - - Maintain a savings - Apply
FNGO/CUA account commercial
interest rate
Millennium Development
Authority (MIDA)
Bank
ARB Apex Limited liability company - - - - - - -
Agric Development Limited liability company 5years Min. 500 - - 10% 65% -
CAL Legally incorporated 6 months N/A N/A N/A N/A N/A N/A
ECOBANK Limited liability company 6M-1 year N/A N/A N/A N/A N/A N/A
Fidelity Limited liability company 6M – 1yr N/A N/A N/A N/A N/A N/A
Intercontinental Legally incorporated 1yr – 2 yrs >50 1,000 N/A N/A 80% N/A
Merchant Legally incorporated 1year >10 12,000 N/A N/A N/A N/A
Prudential Legally incorporated 6 months N/A N/A N/A N/A N/A N/A
International Resident
Institutions
The Trust Bank Limited Liability Company 6 months N/A 100,000 N/A N/A N/A N/A
Oikocredit Legally incorporated Start ups with potential to N/A N/A N/A N/A 50+ N/A
grow but generally 2 yrs.
UNDP Legally Registered 3years N/A N/A N/A N/A N/A N/A
IFC Legally Registered N/A N/A N/A N/A Member of
CUA
SPEED Ghana
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REPORT ON THE SURVEY OF WHOLESALE FUNDING FACILITIES WITHIN THE MICROFINANCE SUB-SECTOR
MFI ADMINISTRATION & MANAGEMENT
INSTITUTION
Government Operating policy MFI LTS Reports & Fin. & Acc Reports & Audit report Internal Compreh Annual Other
manuals required Required Indicators required sys.(AFS) indicators required auditor ensive operation sources
form MFI LTS Required from FAS required Business al plan of funds
required Plan Required required
Required
Depend on Must be Must be Must be Must be No No Yes Yes Yes
MASLOC recommendations recommended recommended by recommended by recommended
from the apex body by GHAMFIN GHAMFIN or CUA GHAMFIN or CUA by GHAMFIN
or CUA or CUA
Social Depend on Must be Must be Must be Must be Yes Past 2 years Yes Yes -
Investment recommendations recommended recommended by recommended by recommended
Fund(SIF) from the apex body by GHAMFIN GHAMFIN or CUA GHAMFIN or CUA by GHAMFIN
or CUA or CUA
CBRDP Credit policy Depend on Depend on Depend on Depend on Yes, not more No Yes Yes Yes
MIS ARB Apex ARB Apex ARB Apex GHAMFIN/CUA than 4 month
Finance & accounting GHAMFIN/CUA GHAMFIN/CUA/ GHAMFIN/CUA/ /ARB Apex after end of
policy / /CUA financial aid
Operating policy year
HR Policy
Millennium
Development
Authority (MIDA)
Bank
ARB Apex Credit policy - - Ability to Not indicated Yes, 2 years Yes - Yes Yes
MIS policy generate reports
Fin& Acct Policy
Operational policy
HR policy
Agric Credit policy Ability to Ageing schedule of Ability to Yet to Yes, past 3 Yes + Yes Yes Yes
Development MIS policy generate advances generate the determine years leverage and
Operational policy monthly & necessary parameters exposure to
Fin& Acct Policy quarterly reports other risks
HR policy reports
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REPORT ON THE SURVEY OF WHOLESALE FUNDING FACILITIES WITHIN THE MICROFINANCE SUB-SECTOR
Bank Operating policy MFI LTS Reports & Fin. & Acc Reports & Audit report Internal Compreh Annual Other
manuals required Required Indicators required sys.(AFS) indicators required auditor ensive operation sources
form MFI LTS Required from FAS required Business al plan of funds
required Plan Required required
Required
CAL Credit policy Standardized Non performance Standard Quarterly and Yes, 3 years Yes + market Yes Yes Yes
MIS policy system of Loan report accounting annual risk,
Operational policy tracking loans Provisions report system financial operational
Fin& Acct Policy reports risks.
HR policy
ECOBANK Credit policy Efficient Quarterly, & annual Ability to Quarterly and Yes, 3 years Yes + Portfolio
Operational policy system to portfolio reports generate annual Quantity ,
generate required report financial provisions for
reports. on schedule statements bad debt
report
Fidelity Credit policy Ability to Quarterly, & annual Ability to Quarterly and Yes, 3 years Yes, + bad Yes Yes Yes
MIS policy generate portfolio reports generate annual debts, PAR
Operational policy required required report financial
HR policy reports, on time statements
report
Intercontinental Operational policy Efficient Minutes at meeting, Not really N/a No Credit risk, Yes Yes Yes
Fin& Acct Policy recovery Strength & size of needed interest risk
system in business
place
Credit policy Ability to Standard Quarterly and Yes. 2 yrs No Yes Yes Yes
Merchant Fin& Acct Policy generate Not determined yet. accounting annual
Operational policy required system financial
HR policy reports statements
Prudential Credit policy Efficient Portfolio performance Not specific Quarterly Yes ,past 3 Yes + Yes Yes Yes
MIS policy system with balance and years management
Operational policy ability to income and
Fin& Acct Policy generate statements governance
HR policy reports structure
The Trust Bank Credit policy System be Portfolio Performance Technologically Overdue Yes, 3 yrs Yes + staff yes yes yes
HR Policy able to (PA to NPA Ratio) oriented accounts, with requisite
generate Performing skills and
reports accounts. experience
Budgets.
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REPORT ON THE SURVEY OF WHOLESALE FUNDING FACILITIES WITHIN THE MICROFINANCE SUB-SECTOR
International Operating policy MFI LTS Reports & Fin. & Acc Reports & Audit report Internal Compreh Annual Other
Organizations manuals required Required Indicators required sys.(AFS) indicators required auditor ensive operation sources
and Direct form MFI LTS Required from FAS required Business al plan of funds
Development required Plan Required required
Partners Group Required
Oiko Credit Credit policy Efficient Management Reports System must Financial Yes + 3 yrs Depend on the yes yes yes
MIS policy system. (Quarterly, half generate timely Management before loan. size of
Operational policy yearly, annually) and periodic institution +
Fin& Acct Policy reports governance,
HR policy marketing,
UNDP
IFC
SPEED Ghana
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REPORT ON THE SURVEY OF WHOLESALE FUNDING FACILITIES WITHIN THE MICROFINANCE SUB-SECTOR
2 C: Performance Analyses of MFIs – Parameters Use
INSTITUTION BALANCE SHEET ANALYSIS PROFITABILITY
PORTFOLIO ANALYSIS
Return On Equity
Loan Loss Ratio
Debt To Equity
(Due >30 Days
Operating Cost
Operating Self
Current Ratio
Financial Self
Port. At Risk
(Due >1day)
Port. At Risk
Government
Quick Ratio
Benchmark
Benchmark
Benchmark
Benchmark
Benchmark
Benchmark
Benchmark
Benchmark
Sufficiency
Sufficiency
Return On
Loan Loss
Adequacy
Reserve
Capital
Assets
Ratio
Ratio
MASLOC Recommendation from GHAMFIN/CUA/ARB Apex/ASSFIN Recommendation from GHAMFIN/CUA/ARB Apex/ASSFIN Recommendation from GHAMFIN/CUA/
ARB Apex/ASSFIN.
Social Recommendation from GHAMFIN/CUA/ASSFIN Recommendation from GHAMFIN/CUA/ARB Apex//ASSFIN Recommendation from GHAMFIN/CUA/
Investment ARB Apex//ASSFIN
Fund(SIF)
CBRDP No - Yes <10% Yes - Yes - No - No - No - Yes No No No No No
Millennium
Development
Authority (MIDA)
Banks
ARB Apex No - No - No - No - Yes - Yes - Yes - Yes - No Yes Yes Yes Yes
Agric No Not No Not Yet Yes Not Yes Not Yes Not Yes Not Yes Not Yes Not No No Yes Yes Yes
Development Yet Yet Yet Yet Yet Yet Yet
CAL Yes - Yes - Yes Max Yes - Yes - Yes Yes Yes Yes Yes Yes Yes Yes
30%
ECOBANK Yes - Yes - Yes Max Yes Max No - Yes Min. Yes Min. Yes Min. Yes No Yes( Yes No
15% 5% 1.0% 0.4% 15% Min. (Min.
35% 5%)
Fidelity Yes 3% Yes - Yes 15% Yes 5% No - Yes - Yes - Yes - No Yes Yes Yes Yes
Max Max
Intercontinental Yes 3% Yes 2% No - No - Yes 10% No - No - Yes - No No Yes Yes No
Merchant No - No - Yes - No - Yes - Yes - Yes - No - No No Yes No Yes
Prudential Yes - Yes - Yes - Yes - Yes 10% Yes 3% Yes - Yes - N/A No Yes Yes No
The Trust Fund Yes Yes Yes 5% - - Yes - Yes 1.2% Yes 1.1% Yes - Yes Yes Yes Yes Yes
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IFC
UNDP
and Direct
Oiko Credit
Development
International
SPEED Ghana
Organizations
Partners Group
Port. At
Yes
Risk (Due
>1day)
MBB
Benchmark
Port. At
Risk (Due
Yes
>30 Days
MBB
Benchmark
Loan Loss
Yes
Ratio
-
Benchmark
Loan Loss
Yes
Reserve
-
Benchmark
Debt To
Equity
Yes
Ratio
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Benchmark
Good
Current
Yes
Ratio
Benchmark
1%
Quick Ratio
Yes
-
Benchmark
Capital
Yes
Adequacy
Benchmark
BoG
Operating
REPORT ON THE SURVEY OF WHOLESALE FUNDING FACILITIES WITHIN THE MICROFINANCE SUB-SECTOR
Yes
Self
Sufficiency
Financial
Yes
Self
Sufficiency
Return On
Yes
Equity
Return On
Yes
Assets
Operating
Yes
Cost Ratio
REPORT ON THE SURVEY OF WHOLESALE FUNDING FACILITIES WITHIN THE MICROFINANCE SUB-SECTOR
2D: Vision, Mission & Operations of the Wholesale Lenders within the Microfinance Sub-Sector
INSTITUTION VISION, MISSION & OPERATIONS
Government Vision Mission Objectives
MASLOC To serve as microfinance apex body and eventually To undertake necessary reforms and development To undertake sound and judicious administration
become a microfinance bank to serve the measures that will strengthen microfinance operation as on fiduciary bass of government and development
microfinance sub sector. an effective and vale strategy for poverty reduction. partners fund for micro and small scale credit
programmes.
Social Investment Fund Serves as the major channel for resource transfer to To contribute significantly to reducing rural and urban To work in partnership with the poor, Local
(SIF) the poor through targeted investment and integrates poverty in Ghana. We provide targeted assistance to Government Structures, Donors and NGOs for
them into the growth agenda of Ghana. poor/deprived communities in Ghana in partnership with sustainable Community Based Development
CBOs, Local Government, Civil Society and Donors using
a gender-sensitive, flexible, participatory, demand driven
and sustainable process
CBRDP To alleviate rural poverty and to improve upon the To reduce poverty and enhance quality of life for the Build and strengthen the capacity of local govt.
income levels of the productive poor. beneficiary rural communities. institutions at the national, regional and district
levels. Transfer technical and financial resources
for development.
Millennium Development - - -
Authority (MIDA)
Private Institutions
ARB Apex To promote development of the rural economy by To provide banking and non-banking support services to Provide banking and non-banking faculties to
the provision for cost effective information and rural and community banks with the am to improving rural and community bank.
communication and technology based banking their operational efficiency.
services through rural/community bank MFIs.
Agric Development Bank To become the largest most prudently managed To provide specialized intermediation and related services Provision of credit facilities for the development
profit oriented agric. Development and in Ghana. with the objective of promoting a sustained and and modernization of agric. And allied industries.
diversified agric and rural development as a foundation The identification and promotion of agric
for the countries overall development enterprises n Ghana
CAL Bank To be a leading bank known for product innovation
and high quality services.
Aims at employing automation and current technology to
provide the expeditious delivery of quality banking and
-
corporate advisory services using, motivated, goal
oriented and innovative personnel with a view to move to
the 'Top 3' position in the Banking industry in terms of
profitability, efficiency and credit quality, while
performing our duties as a good corporate citizen.
Ecobank Bank To be perceived by our customers as providing
convenient, accessible and reliable banking products
To become a world class African banking group.
-
and services
Fidelity Bank Fidelity Bank’s vision is to become a world-class
financial institution that provides superior returns for
To be amongst the top five banks in Ghana by December
2010, based on all key performance indicators and
-
all stakeholders. anchored on three key pillars - our people, our service
and processes, and return to stakeholders
Intercontinental Bank To be the number one financial services institution n
Ghana with strong regional presence.
To help create and preserve wealth.
-
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REPORT ON THE SURVEY OF WHOLESALE FUNDING FACILITIES WITHIN THE MICROFINANCE SUB-SECTOR
INSTITUTION VISION, MISSION & OPERATIONS
Merchant Is to be the leading most influential and best
performing financial services provider in Ghana by
- -
2010 and one of the leading banks in west Africa by
2015
Prudential
- To provide domestic and international banking services
with a strategic focus on project financing and export
-
development.
PBL is committed to play a positive and an innovative role
in the financial intermediation process and, to offer the
best and the most remunerative banking services to the
business community.
The Trust Bank
- The Trust Bank is highly dedicated to serving and -
assisting its customers, with domestic and foreign-
related activities, in their roles as exporters,
importers, manufacturers, intermediaries, investors
or private individuals. By means of its close working
relationship with its principal foreign and local
shareholders/partners, the bank provides a bridge
between Europe and Ghana.
International Resident
Institutions
Oiko Credit To become a highly respected and leading provider To promote global justice by challenging people, churches
of opportunities for socially responsible investments and others to share their resources through socially
and credit for development. responsible investments and by empowering
disadvantaged people with credit.
UNDP Focuses in helping countries build and share solutions to
the challenges of:
• Democratic Governance
• Poverty Reduction
• Crisis Prevention and Recovery
• Energy and Environment
• HIV/AIDS
IFC IFC promotes sustainable private sector investment in
developing countries, helping to reduce poverty and
improve people’s lives.
SPEED Ghana Facilitates the development of the financial markets and
business services for micro, small and medium
enterprises (MSMEs), which in turn is expected to
contribute to their increased competitiveness.
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