Women’s World Banking targets 5,000 agents nationwide- Ready to start agency banking

BY: Maclean Kwofi
Madam Charlotte Lily Baidoo, CEO, WWBG
Madam Charlotte Lily Baidoo, CEO, WWBG

Women’s World Banking Ghana (WWBG) is targeting to register about 5,000 agents to operate under its agency banking which is expected to be rolled out before the end of March this year.

This is part of measures the company is deploying to help drive financial inclusion and grow its operations to become one of the top financial institutions in the country.   

The Chief Executive Officer (CEO) of the WWBG, Ms Charlotte Lily Baidoo, told the Daily Graphic last Monday in an interview that the WWBG had already adopted a cutting-edge technology software to support its product and service offerings.

Technology, she said, would help the financial institution to engage about 5,000 agents across the country to ensure that more people, especially the unbanked, get access to financial services.

According to her, the WWBG’s agency banking model was an innovative strategy to promote financial inclusion by ensuring that anyone who was bankable acquired a full bank account.

“We intend to use the agency banking to deepen our footprints in the country by registering about 5,000 agents who will include mobile money agents, supermarkets and retail shops within the localities,” she said.

Ms Baidoo mentioned that the mobile banking service of the WWBG was in full operation and was geared towards providing tailor-made solutions to serve customers better.

“Our mobile banking service is accessible for even clients who do not use sophisticated mobile phones and so, going forward, we intend to enhance our services,” she indicated.

Ready for new minimum capital

She noted that the WWBG was eagerly awaiting the announcement of the new minimum capital requirement for the companies operating in the savings and loans sector.

“We are also eagerly waiting on the Bank of Ghana (BoG) to announce the minimum capital requirement for the savings and loans companies in the country,” she stated.

Ms Baidoo observed that even if the central bank increased the minimum capital, the company’s shareholders were ready to inject fresh capital to strengthen the base of the financial institution.

“We will not sit down for any institution to acquire us, instead we will acquire others. And I want my clients to know that we have the financial muscle to meet the new minimum capital anytime it is announced.”