Pan-African Savings and Loans, a subsidiary of Ecobank Ghana, is proud to unwrap its revamped group loans product, the Mama Club Group Loans, as a response to the evolving needs of its customers and to reinforce its financial inclusion agenda. This innovative product aims to give women 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) and implemented through GOPA AFC GmbH.
“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 offers 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 Loan’s commitment to empowering women and promoting financial inclusion in Ghana.
Ms Jennifer Assuah, on 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 re-introduction 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
Pan-African Savings and Loans is recognized as a leading savings and loan provider in the country and is committed to providing convenient and sustainable financial services to the economically active, unbanked and underbanked population in Ghana.
In addition to providing access to loans and offering various savings opportunities, Pan-African’s offerings include mobile money and remittance services as well as a digital financial service, called Quick, which provides customers with 24/7 access to their bank accounts for deposits, withdrawals, transfers, credit top-ups, payment of bills and account inquiry. Additionally, the Agency platform on Quick enables users to access their funds through Africa’s vast Agent network.
The Company also boasts of a gender programme, called MAMA, which provides members with access to a full range of financial services and numerous skills-building opportunities such as digital literacy and business management training, savings and investment planning, and networking. MAMA women benefit from practical guidance such as fire detection and prevention training, free healthcare services including health talks, screenings, and eHealth, and reduced costs of pharmaceutical and laboratory services. For more information please visit our website – panafricansl.com
About GIZ
As a provider of international cooperation services for sustainable development and international education work, GIZ is dedicated to building a future worth living around the world. GIZ has over 50 years of experience in a wide variety of areas, including economic development and employment, energy and the environment, and peace and security.
GIZ works with businesses, civil society actors, and research institutions, fostering successful interaction between development policy and other policy fields and areas of activity. The German Federal Ministry for Economic Cooperation and Development (BMZ) is our main commissioning party. Currently, GIZ promotes sustainable development in Ghana via about 50 programmes and projects.
Its activities currently cover three priority areas: Energy and Climate, with a concentration on renewable energy and energy efficiency; Training and Sustainable Growth for Decent Jobs, and Peaceful and Inclusive Societies.
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