BEIGE, the financial services provider, wishes to announce to the general public that its subsidiary, BEIGE Capital Savings and Loans (BCSL) has secured final approval to operate as a Universal Bank. This final license follows BCSL’s satisfaction of all the licensing requirements of the Bank of Ghana.

BEIGE’s banking subsidiary will be called The BEIGE Bank.

The implication of this announcement is that BCSL, now The BEIGE Bank, is fully authorised to offer complete banking services to the general public.

At the time of its licensing, The BEIGE Bank had over 70 business offices around the country, over 2,000 staff and a clientele base of almost 700,000 most of which are individuals and SMEs.

“We are happy about this milestone. Our competencies are in the SME space and that’s where we would play for now,” says Mike Nyinaku, CEO of BEIGE.

The Next Steps:

Between now and the end of the year, all business offices of BCSL will undergo a process of rebranding to reflect their new status.

Together with its subsidiaries and affiliates, BEIGE is currently providing direct employment to over 4,000 people and serving a clientele base that could soon reach One Million (1,000,000).

 

Source: The BEIGE Group