Question 1

What is Adehyeman Savings and Loans?

Accepted Answer

Adehyeman Savings and Loans is a wholly-owned Ghanaian non-bank financial institution (NBFI) that specializes in deposit mobilization and credit services. Licensed by the Bank of Ghana as a Tier 1 savings and loans company, Adehyeman serves individuals, groups, and small to medium-sized enterprises (SMEs) across multiple regions in Ghana.

The institution focuses on financial inclusion, particularly targeting market traders, microenterprises, and SME businesses. With branches in major commercial centers, Adehyeman has evolved from its original microfinance focus to become a comprehensive savings and loans provider offering modern banking services including digital payments through the GhanaPay platform.

Question 2

When was Adehyeman Savings and Loans founded?

Accepted Answer

Adehyeman Savings and Loans was founded in 2004 and commenced operations in January 2005. The company obtained its certificate of incorporation under the Companies Code 1963 (Act 179) on July 27, 2004, and received its certificate to commence business on November 25, 2004.

The Bank of Ghana issued the institution's operating license on January 11, 2005, under the Non-Bank Financial Institutions Law (PNDCL 328). Adehyeman opened its first branch in Makola, Accra, in November 2005, initially focusing on market women and offering traditional "susu" savings services.

In 2008, the company underwent a strategic transformation, moving away from the susu model to implement modern credit assessment procedures and expand its services to include SME lending and a broader range of financial products.

Question 3

Where is Adehyeman Savings and Loans headquartered?

Accepted Answer

Adehyeman Savings and Loans is headquartered in Kokomlemle, Accra, Ghana. The head office is located at House No. C1/7, Faanofa Street (also referenced as Nsawam Road), near Avenor Traffic Light.

The institution maintains its corporate address at P.O. Box GP 13249, Accra, Ghana, from where it coordinates operations across its branch network throughout the country.

Question 4

Where does Adehyeman Savings and Loans operate?

Accepted Answer

Adehyeman Savings and Loans operates across four regions in Ghana: Greater Accra, Ashanti, Central, and Eastern regions. The institution has established a multi-branch network in strategic commercial areas to serve its target markets.

In the Greater Accra Region, Adehyeman maintains branches in Makola, Dome, Avenor, Ofankor, and Kwashieman. The Ashanti Region is served through branches in Kejetia (Kumasi) and Atonsu (Kumasi).

Additionally, the company operates in Agona Swedru in the Central Region. The institution strategically positions its branches near markets and commercial centers to provide convenient access to traders and SME businesses.

Question 5

What services does Adehyeman Savings and Loans offer?

Accepted Answer

Adehyeman Savings and Loans offers a comprehensive range of deposit and lending products designed for individuals, microenterprises, and SMEs.

Deposit Products include Savings Accounts (Royal Max), Current Accounts (Royal Flex), and Fixed Deposit Accounts (Royal Plus) with competitive interest rates. All savings accounts are interest-bearing with flexible withdrawal terms.

Loan Products encompass Public Sector Salary Loans, Private Sector Salary Loans, Business/SME Loans, EduFinance Loans for education expenses, Agricultural Loans for farmers and aggregators, Micro Loans (up to GH₵5,000), and Warehouse Receipt Financing in partnership with the Ghana Commodity Exchange.

Digital Services include ATM cards compatible with all GH Link ATMs nationwide, mobile banking services, the GhanaPay mobile money platform (accessible via app or USSD code *707#), online loan applications, and local and foreign remittance services. All branches are equipped with ATM machines for customer convenience.

Question 6

What makes Adehyeman Savings and Loans unique?

Accepted Answer

Adehyeman distinguishes itself through several unique characteristics that reflect its commitment to financial inclusion and agricultural development.

The institution's name "Adehyeman" is an Akan word meaning "Royalty," embodied in the company's tagline "With us, You are a Royal." This customer-centric philosophy emphasizes treating every client with dignity and respect regardless of their economic status.

Adehyeman is a member of the UN Global Compact, demonstrating its commitment to sustainable and responsible business practices. The institution pioneered innovative agricultural financing through its Warehouse Receipt Financing Scheme in partnership with Ghana Commodity Exchange, allowing farmers to use stored commodities as collateral for loans.

The company maintained operational stability during Ghana's 2018-2019 financial sector cleanup, which saw 23 savings and loans companies liquidated, establishing its reputation for sound governance and financial management.

Question 7

What type of financial institution is Adehyeman Savings and Loans?

Accepted Answer

Adehyeman Savings and Loans is classified as a Tier 1 Savings and Loans Company under Ghana's financial regulatory framework. This classification places it among the larger non-bank financial institutions with a minimum capital requirement of GH₵15 million.

As a savings and loans company, Adehyeman is a deposit-taking institution supervised by the Banking Supervision Department of the Bank of Ghana under the Banks and Specialised Deposit-Taking Institutions Act, 2016 (Act 930) and the Non-Bank Financial Institutions Act, 2008 (Act 774). This regulatory status gives the institution the legal mandate to accept deposits and provide credit facilities, similar to banks but with certain limitations such as the inability to operate foreign currency accounts.

Savings and loans companies in Ghana serve as crucial intermediaries in the financial inclusion agenda, bridging the gap between traditional banking and microfinance by serving individuals and SMEs who may have limited access to universal banking services.

Question 8

How does Adehyeman Savings and Loans support agricultural development?

Accepted Answer

Adehyeman Savings and Loans has established itself as a leader in agricultural finance through innovative partnerships and specialized loan products.

The institution partnered with the Ghana Commodity Exchange to implement a Warehouse Receipt Financing Scheme, allowing farmers and aggregators to use stored agricultural commodities as collateral for loans. This arrangement enables smallholder farmers to store their produce in certified warehouses, secure credit based on warehouse receipts, and repay loans after selling their farm produce.

This initiative received technical assistance through the Financial Institution Resilience and Strengthening (FIRST+) project funded by the Mastercard Foundation and implemented by CapitalPlus Exchange. The partnership provides farmers with much-needed access to capital during critical farming periods when traditional banking channels may be unavailable to them, addressing a significant gap in Ghana's agricultural value chain financing.

Adehyeman Savings and Loans

in Ghana 🇬🇭

Crypto-Friendliness

All done!

About Adehyeman Savings and Loans in Ghana