Group Chief Executive Officer of Capital line Group Obed Adika has explained to Capital News that with a clientele base of 15,000 and capitalization of 15 million Ghana cedis clients of Capital Line Microfinance Company can be assured of security of their finance as the group is well structured and has diversified investments.
According to the Group CEO despite clients defaulting on payment of loans due to multiple borrowing and stigma attached to microfinance companies due to negative practices in the past, Capital Line has positioned itself strategically to minimize risk and ensure efficiency of operations.
He said with staff strength of 150 and presence in Mataheko, Bubuashie, Dansoman, Chemuena, Aburi and Nsawam the plan is to have 17 branches by the end of the year adding management hopes to transform the microfinance company into a fully-fledged bank in 5 years.
On Bank of Ghana plans to raise minimum capitalization to sanitize the sector Mr. Adika stated that a raise in capitalization can be an effective measure in addition to the central bank shutting down entities operating illegally and publishing good standing micro finance entities in the papers to help sanitize the sector and boost trust of the citizenry in the licensed micro finance companies.
Delving deep on the holdings of the group, Mr. Adika revealed that capital line microfinance, k line securities Limited, kingdom Capital investment, Alliance capital and kingdom Pure Life are all holdings of the group serving Ghanaians.
He said the group has stake in real estate, electronics, media, civil engineering, security, sachet, jar and bottled water,
On the economic posture of the country, the group CEO intimated that no economy can survive when its imports exceed exports stressing that the current situation is adversely hurting the cedi.
He however stated that things can fall in place when government puts in programmes and policies to safeguard the economy.