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Liberty Group of Companies make inroad in Ghana’s financial market
From: Ghana | Myjoyonline.com          Published On: August 17, 2012, 00:18 GMT
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Liberty Group of Companies make inroad in Ghana’s financial market

Mr William Adjovu- CEO of Liberty Group of Companies

Liberty Group of Companies is establishing a strong presence in Ghana’s burgeoning financial market. The Chief Executive Officer of the Group, Williams Adjovu, said the goal of his outfit is to provide varied products and services that would improve the lives of ordinary Ghanaians.

The Liberty Group which currently has over 500 employees has eight independently run companies namely Liberty Capital Ghana, Liberty DMI Microfinance Company Limited, Liberty Mutual Health Insurance, Midland Savings & Loans Company Limited, Midland Logistics, Liberty Commodities Limited, Savers ‘Club Company Limited and Unicorn Properties Limited.

One of the subsidiaries of the company, Liberty DMI Microfinance Company Limited, is for instance working in collaboration with government and other private partners to recruit and train a workforce of about 10,000 youths in financial service under the National Youth Employment Programme (NYEP). Liberty DMI Microfinance Company Limited is a deposit taking micro finance company. Unlike all other existing microfinance companies in the country, Liberty DMI provides investment interest on deposits made by its depository clients.

“Liberty DMI is considering the feasibility of extending its loan to investment clients who are small and medium scale enterprises to enable them expand their business operations,” Mr Adjovu has stated in the press statement issued in Accra yesterday.

Liberty commodities, on the other hand, is a commodity trading company. The company trades in various commodities such as maize, coffee, cashew, rice, sugar, flour, fertilizer for cocoa and maize and poultry feed. The company has been dealing with a number of Cocoa Licensed Buying Companies in the cocoa sector. Currently, Liberty Commodities, a well-diversified trading house currently operates the largest maize storage facility in West Africa and it is about to begin the first Warehouse Receipting System in Ghana. The warehousing system will allow farmers to store their produce and use the storage receipts as collateral for loan.

Another subsidiary of the company, Midland Savings and Loans, is a deposit taking retail banking institution licensed by the Bank of Ghana. The Savings & Loans entity is actively involved in the financing and education of farmer-based schemes throughout Ghana. It is also involved with providing credit facilities and managing schemes for both formal and public sector institutions and employees.

“Midland Savings and Loans is in the process of expanding these schemes and facilities to non-farmer micro-size sell employees within the informal sectors,” Mr Adjovu stated.

The Liberty Mutual is one of the largest health insurance companies in Ghana licensed by the National Health lnsurance Authority (NHIS). The company is the only accredited Health insurance agent for the National Health lnsurance Authority. It has over 300 health service providers across Ghana.

“Liberty Mutual Health is in the process of taking another "pacesetter" step by increasing operational and service delivery efficiency through employment of customised advanced health insurance and service information management and service delivery system,” Mr Adjovu disclosed.

Midland Logistics Limited cunently operates as a vehicular logistics only company through the "taxi programme". Interested taxi drivers wishing to purchase a taxi cab or expand their fleet of taxi cabs are financed through a specially structured arrangement that guarantees high loan recovery by sister company Midland Savings and Loans, and at a competitively low interest rate to the taxi cab drivers.

Savers' Club is a major household and consumable items discount outlet with a combination of flagship stores strategically located throughout Ghana, and smaller locally-based community outlet stores franchised out to primary store owners.

Savers' Club provides central administrative and control management services, marketing and advertising for the store brand, financing for the merchandise stocking, shipping, transportation and distribution. Savers' Club Stores also negotiates prices similar to or lower than wholesale, manufacturer, or farmers' price from merchandise originating sources because of the large volume purchases and distributions to Savers' Club stores and warehouses.

The CEO of Liberty Group of Companies said Savers' Club as part of’ extending its high quality merchandise at a lower prices is currently structuring a discount scheme for cocoa, coffee, cashew and maize farmers, salaried workers, government workers as well as the security services members.

Unicorn Properties Limited is a fully owned and registered Ghanaian housing scheme service provider company. Unicorn is engaged in partnership with industry credible and tested property developers to provide affordable housing ownership opportunities for lower and middle income salaried workers. Unicorn is currently exploring opportunities to also consider non-salaried workers with demonstrated consistent income stream within the informal sectors as well, Mr Adjovu added.

Liberty capital Ghana Limited is a licensed lnvestment Advisor & Broker Dealer by the Securities & Exchange Commission of Ghana (SEC) and a Licensed Dealing Member (LDM) of the Ghana Stock Exchange. The company is also a Licensed Pension Funds Manager by the National Pension Authority.

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