Pan-African Savings and Loans, a subsidiary of Ecobank Ghana, is proud to reintroduce its revamped group loan product, the Mama Club Group Loans, in response to the evolving needs of its customers and to reinforce its financial inclusion agenda.

This innovative product aims to provide women with a sustainable credit facility to transform their lives and communities.

The reintroduction of Mama Club Group Loans has been made possible through a strategic collaboration with Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH. GIZ has provided technical guidance, staff capacity building, and funding for the product’s communication strategy, ensuring its successful rollout.

This initiative is proudly funded by the German Federal Ministry for Economic Cooperation and Development (BMZ).

“We are excited to reintroduce the Mama Club Group Loans product, which has been designed to address the unique financial needs of women in Ghana,” said Ms. Emelia Atta-Fynn, Managing Director of Pan-African Savings and Loans. “Our partnership with GIZ has been instrumental in enhancing the technical skills of our staff, emphasizing our commitment to financial inclusion.”

Ms. Emelia Atta-Fynn added, “The Mama Club Group Loans offer women a convenient and accessible credit facility, allowing them to borrow and repay loans in a group setting. This approach fosters community and mutual support while promoting financial discipline and responsibility.”

This product provides financial support at attractive interest rates, with flexible repayment terms, and offers a rebate of up to 7% on interest for good loan repayment.

In addition to providing access to loans, Pan-African Savings and Loans offers a range of financial and non-financial services tailored to women’s needs. The Mama Programme, for instance, provides women with free financial and digital literacy training, networking opportunities, and free health screening and eHealth services.

Pan-African Savings and Loans believes that women are the backbone of communities and must be provided with the necessary tools and resources to thrive. The Mama Club Group Loans product is a testament to Pan-African Savings and Loans’ commitment to empowering women and promoting financial inclusion in Ghana.

Ms. Cynthia Odonkor, a Component Manager on PFS, speaking on behalf of Dr. Christian Jahn, Programme Head of PFS at GIZ-Ghana, added, “The launch of the Mama Club Loan is more than just the reintroduction of a financial product. It is a testament to our belief in the power of women to drive economic transformation. By supporting female MSMEs, we are investing in the future of our economy and society. Empowered women create empowered communities, leading to sustainable development and prosperity.”

About Pan-African Savings and Loans

Pan-African Savings and Loans is recognized as a leading savings and loan provider in Ghana and is committed to providing convenient and sustainable financial services to the economically active, unbanked, and underbanked population.

In addition to offering access to loans and various savings opportunities, Pan-African provides mobile money and remittance services, as well as a digital financial service called Quick, which gives customers 24/7 access to their bank accounts for deposits, withdrawals, transfers, credit top-ups, bill payments, and account inquiries.

Additionally, the Quick agency platform enables users to access their funds through Pan-African’s vast agent network. The company also operates a gender-focused programme, MAMA, which provides members with access to a full range of financial services and numerous skills-building opportunities, such as digital literacy, business management training, savings and investment planning, and networking.

MAMA women benefit from practical guidance, including fire detection and prevention training, free healthcare services such as health talks, screenings, and eHealth services, as well as reduced costs on pharmaceutical and laboratory services.

About GIZ

As a provider of international cooperation services for sustainable development and international education, GIZ is dedicated to building a future worth living around the world.

With over 50 years of experience, GIZ operates in various sectors, including economic development, employment, energy, environment, peace, and security.

GIZ collaborates with businesses, civil society actors, and research institutions to foster successful interactions between development policy and other fields.

The German Federal Ministry for Economic Cooperation and Development (BMZ) is its main commissioning party.

Currently, GIZ promotes sustainable development in Ghana through approximately 50 programmes and projects. These initiatives focus on three priority areas:

Energy and Climate: Concentrating on renewable energy and energy efficiency.

Training and Sustainable Growth for Decent Jobs.

Peaceful and Inclusive Societies: Enhancing good governance.