FTS Capital Microfinance Limited has been issued with a provisional licence from the Bank of Ghana
The licence, which is in the Tier-II category, was issued to the company on the 23rd of March 2012 and was granted in accordance with the banking Act 2004, Act 673 as amended and within the rules and guidelines.
Speaking to the media in an interview, the Managing Director of the Company Mr. Howard Koduah said out of the over-300 applications from microfinance institutions that applied for the Tier-2 licence from the Bank of Ghana, only a few approvals were issued and FTS CAPITAL is very much happy to be part of the very first few.
He said with this approval of a provisional licence, FTS CAPITAL will accept deposits and grants loans to its customers; adding that the company will roll out new products to cover exporters and importers, and also locally manufactured products like sachet water.
Mr. Koduah expressed profound gratitude to the Bank of Ghana, and pledged on behalf of the Board and Management of the Company to work very hard to meet all the requirements for the final operating licence.