Chief Executive Officer of Sinapi Aba Savings and Loans Limited, Tony Fosu has called on the government to support microfinance institutions to improve lives in rural areas.

According to him, microfinance institutions are better placed to offer qualitative credit facilities to players in the rural economy to boost their livelihoods.

Chief Executive Officer, Tony Fosu spoke at an event to launch Sinapi Aba’s 30th anniversary in Kumasi.

Sinapi Aba Savings and Loans is thirty years old, management, staff and wishing clients gathered to launch a corporate logo to commemorate the anniversary.

The institution has forty-four branches across the country, with 600,000 clients, mostly depositors.

These depositors are low-income earners and beneficiaries of social and capital support schemes of Sinapi Aba. 

Chief Executive Officer, Tony Fosu, decried that the regulation of microfinance institutions is not supportive. 

He is calling on the government to support Sinapi Aba and other micro finance institutions to help grow the rural economy.

“The structure and regulation of savings and Loan institutions are not so supportive of various very poor people in rural communities. 

“Sometimes it appears custoly to do business in certain communities but, triple bottom line institutions like Sinapi Aba will not only focus on profitability but impact on lives,” he said.

Over 7,000 young people have benefited from the institution’s apprenticeship programme.

Mr. Fosu lauded the 30 years of operations of Sinapi Aba in supporting the sustainability of small and medium enterprises, and livelihoods. 

He reiterated, that the company is focused on offering entrepreneurial support to the youth.

“Over 30 years we have been very instrumental in supporting and growing all levels of businesses. We have 44 branches spread through every district in Ghana with several employers. 

Our impact has cut through all sectors of the economy. It's been a wonderful journey and we hope to keep a positive relationship with clients as always,” he said.