Dalex Finance and Leasing Company Limited, a non-banking financial institution is poised to launch a new convenience, innovative, savings and investment scheme today.
The yet to be launched product has been described by industry watchers as the next big thing in promoting financial inclusion in Ghana by the use of mobile phone.
The event, which is scheduled to come off today at exactly 5pm at Alisa Hotel in Accra is dubbed “Safe Wise Investment for Tomorrow” (SWIFT).
SWIFT is a contributory investment scheme that allows everyone despite their earnings to deposit any amount starting from GH¢1.00 to GH¢20,000.00 at their own convenience with mobile phone number of respective clients will serve as as investment account number.
Money under this scheme can also be deposited as frequently as may be desired, whether daily, weekly, monthly, or on ad hoc basis.
Business Operations Manager at Dalex Finance, Mr Joe Jackson, in an interview disclosed that SWIFT contributions could be made through over 20,000 points including mobile money agents, post offices, and bank branches in addition to the unlimited convenience of mobile wallet.
“It is the next big thing and first ever in Ghana that is about to hit the financial market. This is all about giving people access to financial system in a way that is convenient and we are going to do that by the use of the mobile phone and also emulating what has been done elsewhere like Kenya and Rwanda by getting a lot more people included in the financial system,” he said.
Describing the company’s yet to be launched SWIFT innovation as a huge step towards financial inclusion in Ghana, Mr Jackson however mentioned, “We want to give clients fantastic incentives to their savings by giving better returns than the 5% and 8% that the banks are currently paying. We actually want to pay 15% interest, rolled over, compound it in 30 days cycle and that should give people real reasons to contribute to the scheme and save money with us”.
According to the 2014 Financial Inclusion Data/Global Findex Database, Mr Jackson said Ghana lagged behind other African countries in the area of financial inclusion.
He added that only 34.61 per cent of adults 15 years and above in Ghana have bank accounts, while in other African countries financial inclusion was higher, citing South Africa, which has 68.76 per cent of its adult population having accounts as an example.
In addition, Mr Jackson mentioned that the scheme also offers a sound and safe institution governed by clear regulation and industry performance standards as well as financial sustainability, to ensure continuity and certainty of investment, and competitive returns on investments which cannot be found at any bank in the country.
He gave an assurance that his company guarantees total security to their clients’ investment as Dalex Finance is not only number 16 on Ghana Club 100 but also a large and well-established financial institution regulated by the Bank of Ghana.
Ahead of the launch management expectations are very high among the public as investors, entrepreneurs, businesses, women’s group, and individuals are determine to sign onto the scheme to enjoy higher returns on their savings.
The launch will bring together hundreds of industry players including former Finance Minister Prof. Kwesi Botchwey as the Guest of Honor, Nana Oye Lithur, Minister of Gender Children and Social Protection and the Chief Executive of Business and Financial Times (B&FT) as the chairperson.
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