First African Savings enters agreement with Ghana Commercial Bank

Clients of First African Savings and Loans Limited (FASL), a money transfer organization, will now be able to send remittances to their dependents in Ghana faster through a partnership it has with the Ghana Commercial Bank Ltd (GCB).

Under the partnership FASL will take advantage of GCB’s nationwide spread of 157 branches and an efficient network to channel remittances from clients in Europe and North America to their beneficiaries in Ghana.

Speaking at a meeting of officials of the two institutions, Mr. Samuel Sarpong, Deputy Managing Director in charge of Operations, GCB, expressed his excitement at having FASL on board and pledged the commitment of the Bank to ensure the best in customer service.

He said the Bank was studying the whole delivery process in the money transfer business and considering the payment of remittances directly into the account of customers so they could access them through the Bank’s 110 ATMs.

Mr. Sarpong said he was happy with the trend of business which took off on August 24, adding, it was very impressive.

Mrs. Gifty Affenyi-Dadzie, Managing Director of FASL, described the partnership as ‘historic’, saying that it had been born out of the passion to grow indigenous brands. “While the GCB is acknowledged as the first indigenous Ghanaian bank, FASL is the first indigenous money transfer organization.”

She expressed the hope that the collaboration would be handled in the mutual interest of the two institutions, riding on the principles of integrity and transparency.

Mrs. Affenyi-Dadzie highlighted GCB’s unparalleled reach in terms of country-wide coverage and its tested and proven technological capacity that enhanced customer satisfaction through speed.

“We believe that our two indigenous companies could utilize this partnership to prove that through expertise and hard won integrity, we can achieve international recognition and excellence,” she added.

Mr. Kofi Boateng Gyasi, Head of GCB Global Money Transfers, said the collaboration would afford FASL a wider reach locally while foreign exchange inflows to GCB would increase.

“They come in to give GCB additional geographical spread and a consequent increase in volumes and values,” he added.

The major patrons of FASL are from Belgium and Italy with their benefactors being in the Brong-Ahafo Region, especially, residents of Berekum, Dormaa Ahenkro and Techiman.

Source: GNA

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