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Bayport merges with CFC Savings & Loans

Bayport Financial Services has merged with CFC Savings & Loans to operate as Bayport Saving and Loans PLC to provide better services to their customers.

As a combined entity, Bayport Saving and Loans will offer a broader variety of financial solutions opening up on opportunities for their customers.

This move will enable these two businesses to leverage off each other’s products and services and enable customers to enjoy improved financial services.

Speaking at a news conference in Accra, the Managing Director of Bayport Savings and Loans, Kofi Adu-Mensah said having gone through all the important stages and procedures; they have finally received Bank of Ghana’s approval to consummate the merger.

“Your new Bayport Saving and Loans PLC is in a better position to offer you more products and services beyond our traditional payroll loan products which the Ghanaian public sector worker has become so familiar with,” Mr. Adu-Mensah said.

Mr Kofi Adu-Mensah

“We assure you that we will maintain and seek to better our delivery speed, convenience and the quality of service our cherished customers have enjoyed over the past fifteen years,” he said.

The Board Chairman of the Board of Directors of Bayport Financial Services, Kwame Pianim, added that technology will play a key role in the merger for fast and easy banking for customers.

Bayport Management Ltd is the holding company of subsidiaries operating in nine countries, namely Botswana, Colombia, Ghana, Mozambique, Mexico, South Africa, Tanzania, Uganda, and Zambia.

The company in recent years has branched into insurance, deposit banking, and savings products.

Bayport gives effects to its financial inclusion mission by embracing technology, product leadership, and innovation, striving to become the leading developing market financial provider.