Mention the names of financial service institutions in Ghana currently and you are sure to hear Bond Financial Services. This is not far-fetched, considering their annual average growth rate of 22.2% and remarkable leap in shareholder funds to Ghc 9.6 million in only 5 years.

Mr. George Ofosuhene is the CEO of Bond Financial Services and HR Focus had a tête-à-tête with him.

HRF: Please tell us about yourself

GO: I was born in Kwahu and had my primary education at Suhum in the Eastern Region. I proceeded to St Peters and Aquinas Secondary Schools for my “O” and “A” levels respectively, and thereafter to the University of Ghana for my B.A. (Hons) degree. I spent about ten years in various banks before pursuing an MBA degree at Hull University in the UK. Whilst in school, I played a lot of basketball which has always been one of my favourite pastimes. I also enjoy reading a lot.

HRF: How do you keep a healthy work-life balance?

GO: I wake up, early, to have two hours in the morning to read, exercise and share some quality family time before work. Secondly, I try to avoid activities and people that sap my time and energy. Thirdly, I make time for regular exercise, including squash, most evenings after work. Finally, my weekends are spent on relaxing social activities, spending time with the family and exercising.

HRF: How did you get to your current position?

GO: Through hard work, determination, focus, a burning desire for success and also, passion. It is not in my nature to dwell on setbacks, so I do not allow myself to be overwhelmed by challenges. In addition, I do not get side tracked by people who are not on track.

HRF: Give us a brief history of Bond Financial and the services you provide

GO: Bond Financial Services Limited (Bond) commenced business as a finance house, licensed by the Bank of Ghana under the Non Bank Financial Institution (NBFI) law, PNDC law 328 in 2008. The idea was mooted by Mr. Krobo Edusei Jnr. of the Safebond Group. Bond now boasts of a customer base of about 5,000 and has met the GH¢7 million capital requirement stipulated by the Bank of Ghana. Modalities are complete and barring any unforeseen hitches, the company will operate fully as a Savings and Loans company before the end of the year.

Our standard offerings are always customized to address each customer’s challenges, needs and capacity without constraining the customer’s ability to innovate and become competitive. Bond also considers other business needs that are crucial in ensuring that financial resources deliver the necessary flexibility and competitiveness.  Our credit products and services include, Bond Asset financing, Bond Import Loan, which helps traders to import raw materials and finished goods for sale and Inventory financing. We also have Bond LPO Loan and Bond Working Capital Loan. We have in addition, the Home Improvement Loan, the Bond Asetenapa for the purchase of consumer products by regular income earners, and the Bond Personal Loan.

With respect to investments, Bond provides fixed deposit instruments with varying maturities, priced at highly competitive rates with unique and flexible liquidation terms.

Bond Ezi Access – This product has attractive interest rates and payable on demand at 24-hour notice.

Bond Future Capital – This product is offered on fixed terms of 30, 60, 90, 180 and 365 days at very attractive rates

HRF: Bond seems to be very customer focused; what are some of the innovative customer care programmes that you have come up with and how have these impacted your market share?

GO: Bond is the very first company in the NBFI sector to introduce a Relationship Manager into its customer management. This was done to enhance the relationship with the customer and be proactive in providing services. We conduct customer satisfaction surveys to know their needs and then design services to meet and exceed their expectations. We also create fora such as our end of year cocktails to meet and interact with our clients. We treasure our clients and our relationship with them and show this by, amongst others, sending messages on their birthdays and other special days.

HRF: As CEO, what are your top priorities and how will you measure success on those priorities?

GO: My top priorities are the customer, my staff and financial performance. I will like to take this opportunity to pay special tribute to all of our customers who are the reason for which we are in business. Of course, when these top two priorities are done well, it would reflect in the bottom line, which is financial performance.

HRF: What qualities do you respect and value in the people you work with? Why are these qualities important to you?

GO: I look out for honesty and integrity owing to the fact that we are dealing with money. We also look out for confidence, poise, and creativity.

HRF: In your opinion, what is the best way to lead and motivate subordinates?

GO: We lead by example. We inspire by being in the trenches first and then the commitment of others follow. We combine praise, commendation and constant dialogue with the people to help us understand them. In effect, we focus a lot on the dictates of emotional intelligence since we are dealing with very smart people.

HRF: What is your philosophy in business and life?

GO: Do not make excuses, but make improvements. Problems may not appear to be solved immediately but once you are making improvements, you will definitely get there. Another thing I have believed in; do not stop when you are tired but only stop when you are done. I also believe that you must always live your life in such a way that if someone spoke ill about you, no one would believe it.

HRF: What is most rewarding about your job and what are some of the challenges that come with your position as CEO?

GO: It is looking back and seeing the many customers we have been able to serve and businesses we have been able to salvage from collapse. More importantly, the opportunities that I have been able to create for many young leaders. People I have coached and mentored in order to take up positions as the next generation leaders.

A major challenge that comes with this kind of position is the loneliness. People can be with you in the physical but not in the mind, and to make matters worse, you have no idea what each and every person is thinking. Loyalty is of much virtue: Loyalty that is bold to bring out the issues as they are.

HRF: What would have been your second choice of career if you had the option to choose?

GO: I would have been a medical doctor. I had the option but did not go in that direction because I felt I was not cut out for that.

HRF: What is the best compliment you have ever received?

GO: After just a few years together as husband and wife, my better half came to me one day and said, I need your help with something. Then almost to herself, she added I need you for everything. It is so wonderful to know that the woman I love values me so much.

HRF: What is your take on corporate social responsibility and how is Bond Financial Services working to impact society?

GO: Our goal is to empower people in society in vulnerable situations. Bond has over the years consistently supported the Frafraha Orphanage. We adopted and gave a facelift to one of the dormitories. This year, Bond has turned its attention towards improving health delivery in the area of children with heart diseases by supporting at least one child’s heart surgery. We have already donated to the Children Heart Foundation this year and we intend on continuing in subsequent years.

HRF: What do you plan to have accomplished in 5 years, professionally?

GO: I will like to drive Bond Financial Services to the next level. We have already initiated moves to roll out on the Savings and Loans platform and we are progressing steadily. We aim to register the name of Bond and operate on the main banking platform in the next five years. I will also like Bond Financial Services to be the most compelling place to work.

HRF: What one lesson have you learnt in leadership and in management that you would want to share with others?

GO: Honesty is an expensive gift; not everyone has it, nor can they give it. You often expect honest feedback and advice from people. The truth may hurt but it will eventually save you time and money.