After a decade of being a leading Savings and Loans company among financial institutions in Ghana, Beige has succeeded in obtaining a licence to operate as a bank.
BEIGE Capital Savings and Loans has now been upgraded to a bank status and is The BEIGE Bank. Mike Nyinaku, CEO of BEIGE, emphasised that the transition to a bank has been smooth sailing and all operations as The BEIGE Bank will commence in the fourth quarter of the year. He stated that the branding is currently being done in all branches it has across the country.
The CEO urged customers and patrons of BEIGE to accommodate the inconvenience they may face as a result of the rebranding as it will be short-lived. “The name of the institution will change, there might be variations with our colours, all the concepts have been done, now we have to go out and express our concepts in all of our offices. That calls for painting of offices, changing of paraphernalia that bears the name savings and loans, even remodelling some of our offices to suit the new standards, that’s going to take a while. We are a business that operates with more than 70 outlets” he explained
Mike Nyinaku repeated BEIGE’s commitment to delivering tailor made services that best satisfies the needs of the consumer. In that line, he noted that The BEIGE Bank will focus primarily on the over 80% economically active people in the country. He revealed that these people fall within the SME industry and indicated The BEIGE Bank’s preparedness to deliver quality products and services as they have done since its inception.
“We are a traditional SME financing institution. That’s where we have built out capacity and that’s where can play with our competitive strengths. We do not see ourselves veering into corporate banking at least for the first 5 years of our existence. We will play where we are good at. More than 80% of the economically active population of this country are in the SME space. That is big business” he disclosed.
BEIGE is a financial services firm with business operations in Banking, Pension, Insurance and Investments. It begun operations with one branch in 2008 and now boasts of over 70 branches across the country. It is also considered to be the largest Savings and Loans company to be given the Universal Banking Licence to operate as a bank in Ghana.