WestOne Microfinance

What WestOne Microfinance does

WestOne Microfinance Ltd. is a Ghana-based microfinance institution licensed in 2015 by the Bank of Ghana under the Banks and Specialized Deposit Taking Institutions Act 2016, operating from a single headquarters branch at Anorhuma Street, Niiboi Man, Lapaz-Accra. The company delivers a unified retail financial product suite to micro, small, and medium-sized businesses (MSMEs), informal-sector entrepreneurs, and individuals, comprising five credit products (Micro Loans, SME Loans, Trade Finance for port clearing, Express Susu Loans of GHS 500-2,000, and Corporate Loans), four savings products (Susu Savings, Regular Savings, Express Susu Savings, and the WestOne Trust Account for children aged 0-19), the West Fixed Deposit Fund investment product, and a business advisory service layered onto lending. Operations are anchored on the Susu Express daily collection system for in-person deposit and repayment, with no mobile app, API, or self-service digital channel disclosed.

The business model is a classic deposit-taking microfinance spread: revenue is generated primarily through interest income on microcredit and SME loans (Express Susu Loans priced at 6% per month plus a 6% processing fee), recurring maintenance levies on savings accounts (GHS 2/month on Susu accounts), and net interest margins on fixed deposits priced above Treasury bill rates. GTM is direct-to-consumer via the physical branch plus downloadable PDF loan application forms and a corporate website; no paid acquisition, partner distribution, or fintech integrations are present in the disclosed footprint. Paid-in capital stands at GHS 2,250,000, the regulatory minimum for Ghanaian microfinance companies, with no external funding rounds or institutional investors disclosed. Ownership is founder-controlled, with Paul Asuming as CEO and Eugene Sai Johnson as Board Chairman; the company is a member of the Ghana Deposit Protection Scheme, providing insured deposits to retail clients in a market where banking penetration among informal workers remains structurally low.

Name

WestOne Microfinance

Legal name

WestOne Microfinance Ltd.

Website

https://westonemicrofinance.com

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

1–10 employees

Short description

WestOne Microfinance is a Ghana-licensed microfinance institution headquartered in Lapaz, Accra, offering micro and SME loans, daily Susu savings, fixed deposits, and business advisory services to underserved micro-entrepreneurs, informal-sector workers, and individuals.

Ownership category

akta.pro rank

Product category

Microfinance

NAICS

Other Nondepository Credit Intermediation (52229)

SIC

Short-Term Business Credit Institutions (6153), Personal Credit Institutions (6141)

akta.pro primary industry

Microloans & Working Capital Loans (FSAKAGAA)

akta.pro secondary industries

SME Term Loans & Growth Capital (FSAKAGAB), SME Business Lending (Term Loans, Lines of Credit, Overdrafts) (FSABABAB)

Keywords

• Microfinance services
• SME lending
• Microcredit loans
• Savings mobilization
• Financial inclusion

Headquarters

HQ city

Accra

HQ country

Ghana

HQ region

Africa

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Others, Infrastructure, Marketing or Sales

Revenue model

1. Microcredit Lending: WestOne generates revenue primarily through interest income on micro loans, SME loans, trade financing, and express loans. Interest rates vary by product, with express loans at 6% per month and corporate loans based on borrower debt capacity.
2. Loan Processing Fees: The company charges processing fees on loan products, with express loans having a 6% processing fee on the requested loan amount.
3. Savings Mobilization: WestOne collects savings from customers through various products including Susu savings, regular savings, and trust fund accounts. Monthly maintenance levies are charged on certain accounts (GHS 2.00 per month on Susu accounts). Interest is paid on savings balances (3% p.a. on regular savings, 5% p.a. on trust accounts).
4. Fixed Deposit Investments: The company offers fixed deposit accounts with terms ranging from 91 to 364+ days at competitive rates above Treasury bill rates. Interest can be negotiated based on amount or tenor.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

WestOne Microfinance is a Ghanaian microfinance institution that delivers credit, savings, and fixed deposit products to micro, small, and medium-sized businesses and underserved individuals. Its credit portfolio includes Micro Loans, SME Loans, Trade Finance, Express Susu Loans, and Corporate Loans; its savings portfolio includes Susu Savings, Regular Savings, Express Susu Savings, and a Trust Fund Account for children. Business advisory services are bundled with lending to help clients operate and grow sustainably.

Product overview

WestOne Microfinance is a Ghana-based microfinance institution offering a unified portfolio of financial products and services for micro, small, and medium enterprises. The product suite consists of credit products (Micro Loans, SME Loans, Trade Finance, Express Susu Loans, and Corporate Loans), savings products (Susu Savings, Regular Savings, Express Susu Savings, and WestOne Trust Account for children), and investment products (West Fixed Deposit Fund). Business advisory services complement the loan offerings to support client success.

Differentiator

Problem solved

Functional benefit

Products and services

• Micro Loans (Microcredit)
• SME Loans
• Trade Finance
• Express Susu Loans
• Corporate Loans
• Susu Savings
• Regular Savings
• Express Susu Savings
• WestOne Trust Account
• West Fixed Deposit Fund (WFD)
• Advisory Services

Named customers1 record

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Two partnerships are on record, tiered core.

• Bank of GhanacoreOthersWestOne Microfinance is licensed under the Banks and Specialized Deposit Taking Institutions Act 2016 and received its provisional license from the Bank of Ghana in March 2015. The central bank regulates the company's operations and sets capital requirements.
• Ghana Deposit Protection Scheme (GDPS)coreOthersWestOne is a registered member of the Ghana Deposit Protection Scheme, an initiative by the Bank of Ghana established under the Ghana Deposit Protection Act, 2016 (Act 931). The scheme protects depositors by guaranteeing reimbursement of insured deposits in the event of a bank failure.

Scale indicators3 records

Recent moves6 records

Expansion highlights3 records

Emerging players

• FIDO Microfinance (Ghana): Digital-first micro-lender offering mobile-app-based microcredit and savings to informal-sector workers in Ghana — emerging competitor using mobile channels that WestOne currently lacks.
• MTN MoMo (Mobile Money): Dominant mobile money platform in Ghana providing savings, transfers, and increasingly microcredit — competing for the same informal-sector deposit and small-credit customers that WestOne serves.

Direct peers

• Advans Ghana Savings and Loans: Licensed savings and loans company serving micro and SME clients across Ghana with credit, savings, and advisory products — direct competitor to WestOne in the regulated Accra microfinance market.
• Sinapi Aba Savings and Loans: Ghana-licensed savings and loans company providing microcredit, SME loans, and Susu-style savings products — directly comparable to WestOne's product portfolio and customer base.
• Opportunity International Savings and Loans: Microfinance-focused institution in Ghana serving small entrepreneurs and farmers with credit and savings products — directly comparable mission and target customer to WestOne.
• ASA Microfinance (Ghana): Network-based microfinance institution serving informal-sector clients with small-ticket group and individual loans across Ghana — comparable product set and informal-sector targeting as WestOne.
• Letshego Ghana: Subsidiary of pan-African Letshego Group providing microloans and salary-backed lending to formal and informal employees in Ghana — overlaps with WestOne's SME and individual lending segments.
• Baobab Microfinance (Ghana): Network member of Baobab Group operating in Ghana with microcredit, SME loans, and savings products targeting unbanked and underbanked populations — directly comparable regulated microfinance competitor.
• Bayport Financial Services Ghana: Multi-country consumer and microfinance lender offering payroll-deduction loans and savings products to salaried and informal workers in Ghana — comparable consumer-credit product suite.

Broad incumbents

• Rural and Community Banks (Ghana ARB Apex Bank): Network of 140+ rural and community banks across Ghana serving micro and small customers with deposit and lending products — broader footprint than WestOne but overlapping customer segment in microfinance.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/westonemicro
• Facebookfacebook.com/westonemicrofinance15
• LinkedInlinkedin.com/company/westone-microfinance-limited

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about WestOne Microfinance