The Most Reverend Gabriel Justice Yaw Anokye, Archbishop of the Kumasi Archdiocese of the Catholic Church, being assisted by Ms. Mavis Annan Mensah, Chief Executive Officer of PAK, to open the branch of PAK Microfinance on the premises of the St Peter’s Cathedral Basilica in Kumasi

The Kumasi Archdiocese of the Catholic Church has partnered the PAK Microfinance Company Limited to establish a branch of the microfinance company in Kumasi. Situated on the compound of the St Peter’s Cathedral Basilica, close to the Central Business District of Kumasi, the PAK branch is aimed at offering church members and others in the business community the opportunity to save their money securely and also have access to

banking products and services to grow their businesses. Inaugurating the branch, the Archbishop of the Kumasi Archdiocese of the Catholic Church, the Most Reverend Gabriel Justice Yaw Anokye, said “the move is to safeguard the interest and businesses of our members and other interested parties.”

He said the church recognised the critical role financial institutions played in the establishment and growth of businesses as well as the development of individuals, hence the decision of the church to partner the microfinance to establish a branch on its premises.

He said although a lot of heart-breaking stories had been told about microfinance companies and how they had fleeced people and collapsed businesses, PAK would be a different financial institution because of the partnership and association with the Catholic Church.

“This is a financial institution with a difference because of the partnership with the church and its location. It is on the central seat of the Catholic Church in Kumasi and they have been certified by Bank of Ghana coupled with their excellent track record,” he added.

He explained that the Catholic Church joined the partnership for various reasons, cardinal among them being to grow the businesses of its members and secure their resources to ensure that they had enough to help support God’s work.

The company’s Chief Executive Officer, Ms. Mavis Annan Mensah, mentioned some of the newly tailor-made products for church members to include Adwumamu Mpuntuo (Progress of Business), which is a loan account and facility to grow businesses.

She explained that “with this account, church members would be offered opportunity to save and subsequently access loans without collateral except the guarantee by their parish priests.”