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Promoting financial inclusion: Dalex brings investment to doorsteps of the public


A savings/investment scheme that will enable all categories of people to build an investment portfolio despite how low their earnings will be available to the public this week.

The scheme, named “Safe Wise Investment for Tomorrow” (SWIFT) is a contributory investment scheme that allows the deposit of any amount from GH¢1.00 to GH¢20,000.00.

Money can also be deposited as frequently as may be desired, whether daily, weekly, monthly, or on ad hoc basis.
SWIFT, an innovation by Dalex Finance and Leasing Company Limited, was designed after a needs assessment exercise which involved focus group discussions with various segments of society in Tamale, Kumasi and Accra.

Mr Joe Jackson, Business Operations Manager of the company, said the need for such a scheme came out strongly during the discussions and “that is what convinced us that SWIFT will touch many lives”.

He said SWIFT contributions could be made through over 20,000 points including mobile money agents, post offices, and bank branches in addition to the unlimited convenience of a mobile phone.

Describing the innovation as “a huge step towards financial inclusion in Ghana, Mr Jackson added that SWIFT invested the contributions made in any 30-day period and would pay a competitive compound interest from month to month until the maturity of the investment.

Financial Inclusion Goals

Mr Jackson indicated that SWIFT was intended to promote financial inclusion in Ghana.

According to the 2014 Financial Inclusion Data/Global Findex Database, Ghana lagged behind other African countries in the area of financial inclusion, he said.

Mr Jackson said further that only 34.61 per cent of adults 15 years and above in Ghanadbank accounts, while in other African countries financial inclusion was higher, citing as an example, South Africa, which has 68.76 per cent of its adult population having accounts.

He said Dalex’s new innovation aimed at providing access to savings and investments at a reasonable cost for all households to a full range of financial services, including savings or deposit services, payment and transfer services, credit and insurance.

The scheme also offers a sound and safe institution governed by clear regulation and industry performance standards as well as financial and institutional sustainability, to ensure continuity and certainty of investment, and competition to ensure choice and affordability for clients.

Convenience

SWIFT is convenient, Mr Jackson pointed out, explaining that aside allowing for daily, weekly, monthly and ad hoc contributions, it was also easy to invest from one’s periodic earnings, however low one’s earning, since contributions could be as low as GH¢1.00.

In addition, clients do not have to go out of their way to contribute as this can be done through mobile money, post offices, banks, etc.
Competitive returns

Furthermore, he said, SWIFT offers competitive returns on investment as the return investment is higher than the bank and clients get interest on interest earned.

Mr Jackson said an added advantage was that even though it was an investment, an investor in SWIFT could get a loan from Dalex without ‘breaking’ his/her investment.

He gave an assurance that the SWIFT guarantees security as Dalex Finance is not only number 16 on Ghana Club 100 but also a large well-established financial institution regulated by the Bank of Ghana.

By: Rosemary N.K. Ardayfio Date : Sunday, 09 August 2015 22:42

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Dalex Finance and Leasing Company Limited (Dalex Finance) is a Ghanaian non-bank financial institution, licensed and regulated by the Bank of Ghana and has been since 2006.

At Dalex Finance we strive to make a genuine difference in the lives of our clients, an attitude that inspires the way we work together. Many of our corporate and individual customers have grown to trust our proven ability to deliver relevant and efficient services to solve their short and long term financial needs.

We have an uncompromisingly customer-focused working environment that is supportive, friendly and team-oriented.

Our key objective is sustained growth in shareholder value; achieved by ever-increasing revenue and profitability.                   

Dalex Finance has a team of high caliber and knowledgeable personnel with diverse skills and experience whom we continually invest in via technology and training to keep us on par with the best in the industry globally. We have offices in Accra, Takoradi, Kumasi, Tamale, Ho, Sunyani, Koforidua, Akatsi, Wa, Bolgatanga and Sales Points in 20 locations nationwide.            

We comprehensively review the relevance of our products and services to ensure they meet the needs of our existing clients as well as develop attractive and competitive packages for potential clients. Dalex currently offers Salary Loans, Business Loans, Investments and Fleet Management Services.

 

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