Author: Ollen Machimbirike


Date: 1 July 2016

First Allied Savings & Loans

First Allied Savings & Loans, one the of the largest savings and loans institutions in Ghana has made impressive strides in terms of the implementation of its agency business model in the first year of its operation. The agency business model, branded “AlliedAgent” which is an important part of their overall financial inclusion strategy, was launched in June 2015. Each “AlliedAgent” is a kiosk in a corner shop or fuel station. So far First Allied has 150 agents; in comparison First Allied has 25 branches, so the agency model has multiplied the total number of “outlets” their customers can utilise by a factor of seven. All agents are carefully screened prior to appointment.
In comparison to an ATM, each agent provides a much broader range of services, and has a significantly lower fixed cost. The range of services provided by each AlliedAgent, include:

  • Deposits and withdrawals
  • Instant money transfers
  • Airtime Top-ups
  • Bill payment
  • Ezwich transactions
  • Mini statement
  • Account opening

First Allied is head-quartered in Kumasi, Ghana’s second city and the bulk of its market presence is the middle and Northern parts of the country, regions which other leading financial institutions have a limited presence. The institution has total assets of around USD 90 million. Verdant Capital is currently executing a medium-term debt capital raising for First Allied.

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