More efforts are being made to gather ideal funds in the informal sector into the banking space.
SIC Life has introduced an innovative Mini Banking outlet dubbed ‘Sika Fie’ to provide convenient banking for players in Ghana’s informal sector.
The Company has trained Mobile Bankers to assist in convenient collection of funds.
Head of Inclusive and Personal Banking, Vincent King Arthur, tells Starr Business the move is part of a larger plan to migrate SIC Life Savings and Loan into a bank. According to him, the plan will still keep the SMEs as their core clients.
“We are working out very fast to ensure that we get there but we will not leave the micro sector. We will really have them at our finger tips.”
About 40 customized kiosks will be sited at selected places for prospective customers to make transactions.
Once a transaction is made, a notification is sent to the customer through a text message guaranteeing the safety of the money.
“We are the only government savings and loans company that is bringing out this product and anything to do with government, we have to be careful… Before we get to the client, we put in the best security system so you don’t go through challenges like the normal susu collectors.
“Our staff are well trained for this product. And with technology, I will say we are the first to do kiosk banking so we’ve put in efforts to ensure that everything gets to the head office,” Mr. King-Arthur, added.
Member of Parliament for Ofoase-Ayirebi constituency and deputy Information Minister, Kojo Oppong-Nkrumah who was the keynote speaker at the event lauded the firm for the innovative move.
He added that the initiative is part of government’s efforts at promoting made in Ghana.
“Even the kiosk we see is manufactured right here in Ghana, the software used to receive and transmit messages to the call banking application and then unto our phones was designed in Ghana. It shows the ingenuity of Ghanaian enterprise,” he noted.
