Opportunity International Savings and Loans Ltd (OISL) has launched an initiative to grant loans to young entrepreneurs in small and medium enterprises (SMEs) to help them gain access to financial services and sustain their businesses.
The financial institution’s start-up loan product combines financial services with free financial and non-financial advisory services and business skills training to support clients in achieving their entrepreneurial goals.
Speaking at the workshop, Mr. Kwame Owusu-Boateng, Chief Executive Officer, OISL, highlighted the firm’s commitment to advancing financial inclusion and empowering young entrepreneurs through the Youth Start-Up Loans.
He said the initiative would support economic growth, reduce poverty, and promote “a stable society.”
“Opportunity International Savings and Loans Ltd aims not only to provide just financial support to youth-led businesses but also a complete package of support”. “It includes mentorship and capacity-building to ensure young entrepreneurs acquire the needed knowledge, skills, and guidance that will help them navigate the complexities of starting and growing a successful business,” he stated.
Opportunity International Savings and Loans Ltd was one of nine financial institutions selected to participate in GIZ’s PFS capacity building for Banking & Microfinance Institutions on the MSME product development project.
Mr Owusu-Boateng thanked GIZ for their support through the GIZ PFS Programme, implemented by GOPA AFC/CDC Consult.
The collaboration, he noted, would ensure delivery of maximum benefits to young entrepreneurs within the community.
Dr. Christian Jahn, the programme Manager for the PFS programme at GIZ, said OISL’s Youth Start-Up initiative aligned with GIZ’s mission to enhance employment opportunities for MSMEs to contribute to the growth of the Ghanaian economy.
Mr. Binyam Ayele, GOPA AFC Consultant, speaking on behalf of Dr. Oliver Schmidt, Senior Project Manager at GOPA AFC, noted that the institution’s financial product was designed to meet the high demand for financial services, particularly, among apprentices and graduates of vocational programmes.
Participants were sensitized on topics such as loan acquisition processes, financial literacy, and savings.
Opportunity International Savings and Loans Limited is one of the leading financial institutions in the country with 38 branches in 10 out of the 16 regions.
It is a subsidiary of Opportunity International, a global organization with its Head Office in Chicago, USA, and serves more than 660,000 clients nationwide.
