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Over 50 non-bank financial institutions  honoured at GHAMFIN Awards 2023
some award winners in a group picture

Over 50 non-bank financial institutions honoured at GHAMFIN Awards 2023

Over 50 Non-Bank Financial Institutions (NBFIs) from the microfinance, rural banks, micro-credits, susu enterprises and credit unions across the country were honoured for their contributions and accomplishments within their respective sectors last Friday.

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Organised by the Ghana Microfinance Institutions Network (GHAMFIN) in collaboration with the Financial Inclusion Advocacy Centre, the ceremony which took place at the Mensvic Grand Hotel in Accra served as a gathering for industry leaders and professionals within the various bank and non-bank institutions. 

Themed: "Sustaining the Gains of Finance through Innovation and Technology," the event spotlighted the role that NBFIs play in driving economic growth by serving as partners and advocates for small and medium-scale enterprises (SMEs). 

The awards programme, now in its second year, commenced with an opening address by the Board Chairman of GHAMFIN, Mr Bernard Joe Appeah.

In his address, he said: “NBFIs have been instrumental in facilitating access to capital, supporting entrepreneurship, and promoting financial inclusion and so they deserve to be recognised.

Mr Appeah further explained that the nominees underwent a meticulous evaluation process led by an unbiased team of industry experts to ensure fairness and transparency in the selection procedure. 

Various categories were up for grabs, including "Most Gender Focused," "Contributions to Financial Literacy," "Best in

Promoting Financial Inclusion," "Best Disability Product," and "Corporate Governance."
In the "Most Gender Focused" category, the winners included FWF Microfinance Company Limited, Juabeng Rural Bank, and Sinapi Aba Savings and Loans Limited. 

Those recognised for their "Contributions to Financial Literacy" included Fiaseman Rural Bank, Global Impact Foundation FNGO, Advans Savings and Loans Ltd Cedicrest Microfinance Enterprise and the Akuapem Rural Bank.

Notably, the accolades for "Best in Promoting Financial Inclusion" were secured by the Jehovah EL-Shaddai Susu Company, Initiative Development Ghana, West One Microfinance, LetSheGo Savings and Loans PLC among others.

The distinctions for "Corporate Governance" and "Best Disability Product" were won by Eastland Microcredit Enterprise, Bayport Savings and Loans PLC  and Capital Reliance Micro Credit Enterprise, respectively.

A noteworthy highlight of the event was the three awards won by Fiaseman Rural Bank, recognising their achievements in "Contribution to Financial Literacy," "Most Protected Rural Bank," and "Most Profitable Rural Bank for 2022."

 Mr Godfred Frank Opoku, the Chief Executive Officer of Fiaseman Rural Bank exhibiting the three awards his bank won

In an interview, the Chief Executive Officer of the Fiaseman Rural Bank, Mr Godfred Frank Opoku, expressed his gratitude for the recognition and the bank's commitment to excellence while expanding its corporate social responsibilities.

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