Midland poised for growth

Midland Savings and Loans Company is poised to reposition itself to become a leading financial institution in the delivery of total financial solutions in Ghana and beyond, its Managing Director, Mr Michael Adjovu has said.
Midland, he added, was taking giant strides to capture the commanding heights of mass financial mobilisation and speedy processing of loans and advances under its restructured management after its acquisition by the Liberty Group of Companies in 2011.
Speaking in an interview with the Daily Graphic, Mr Adjovu said their emphasis on mass deposit mobilisation was geared at inculcating a culture of saving in their clients and to help them create financial security for themselves and their families.
He said: “Our choice of credit clients principally is based on the ability to repay and does not depend on the size of the client’s business or the credit facility in question,” and added that this position had enabled Midland to reach out to small business holders and young entrepreneurs who apply for loans to finance the expansion of their businesses.
According to him, this position has helped Midland to contribute in no mean term to job creation and reducing unemployment.
Products and services designed by Midland, he indicated, carried some germane qualities that address the needs of the lower level financial service consumers.
“For depositors, there are the Mobile Banking Executives (MBEs) collecting “susu” or savings deposits on daily basis, ensuring that depositors do not abandon their economic activities just to deposit money.  Midland also provides finance to taxi drivers to enable them buy and own vehicles on ‘Work and Pay’ basis; and vital credit lines are extended to cocoa farmers,” he said.
He also revealed that their Mobile Banking Executives  were very efficient in relaying their product information to their prospective clients, adding “our MBEs always go the extra mile in lending a helping hand to prop up the business of our clients when help is needed.”
Commenting on investment, Mr Adjovu said “our investment products are well-researched and subjected to rigorous analysis to ensure that they hold value and give good return to the investor. The strength of our products and services is that they are continually updated to answer to the changing economic environment and to customers’ aspirations.”
He also explained their greatest and far-reaching contribution to society was the financial inclusion drive embedded in their marketing outreach programmes and the social safety qualities built into their deposit and investment products, adding “We will continue to affect society positively as we strive to become a leading provider of financial services in Ghana.”