Ghana’s informal trading community has been challenged to intensify record-keeping practices to make access to credit easy.
Managing Director of Ecobank and Regional Executive Anglophone W/A, Dan Sackey, says the main reason most businesses in the informal sector have challenges accessing credit from financial institutions is the lack of information sharing and trust.
Speaking at the launch of Ecobank’s Omni-lite Digi Banking app – targeted at the informal sector, Mr Sackey explains that his outfit in “close partnership with AFB will be using the said mobile app to track the spending and revenue patterns of traders to aid in the dish out of credit facilities. “
The Omni-lite Digi Banking Pack includes a minimum operating balance of GH¢100, no monthly charges among others.
Present at the launch was the President of the Ghana Union of Traders Association, GUTA, Dr Joseph Obeng, who represented Ghana’s trading community. He urged the business community to take advantage of the banking app.
On her part, President of the Makola Market Women Association said the Omni-lite Digi Banking pack will go a long way to deal with the menace of theft and armed robbery in the markets.
According to her, “this bank app will safeguard the finances of market women and increase the habit of savings”.
The Ecobank Omni-lite Digi Banking pack is expected to enhance working capital and also increase access to new markets.