Part of the annual general meeting (AGM) of First Ghana Savings and Loans Ltd (FGSL) was conducted in Twi in a rare twist of events when one of the shareholders said she could not follow the discussions in the English language.
“I have a son in the university who usually asks me what was discussed at the AGM but I am not able to say anything to him because I don’t understand the discussions in the language used,” Madam Comfort Ama Agyapong Asiamah, a shareholder from Koforidua in the Eastern Region said.
This declaration forced the Chairman of the Board of Directors,
This included the discussions before the motion to fix directors’ remuneration, which had not been revised for three years, was put to vote.
The chairman’s clarity of explanations and enduring efforts to carry everybody along led to a deeper discussion of the issues and diverse contributions in Twi, including two counter motions from the floor, one of which Madam Asiamah seconded.
While the directors proposed a cap of 50
When the motions were finally put to a vote, the directors’ remuneration was approved to increase by not more than 30
While the shareholders
According to the chairman of the six-member board, the company recorded a net loss of GH¢300,000 in 2017 compared to the GH¢290,000 loss posted in 2016.
The operating income of First Ghana Savings and Loans declined by four
The company, however, managed to tame its operating expenses, reducing it by 3.5
Although customer deposits grew by 17
The main constraint to the company’s performance was the manual operations it was still engaged.
“The strategy focuses on technology
He said the high
Medium term plans
The Managing Director of the company,
He said FGSL would continue to refurbish its offices to make them attractive and comfortable for banking operations, as well as improve customer satisfaction, adding that “we are going to increase our visibility considerably through our community service and marketing.” — GB