ASA Savings & Loans Limited

What ASA Savings & Loans Limited does

ASA Savings & Loans Limited is a Ghanaian savings and loans company regulated by the Bank of Ghana and a wholly-owned subsidiary of ASA International Group Plc, which is listed on the London Stock Exchange and operates microfinance subsidiaries in 13 countries across Asia and Africa. Incorporated in June 2009 and reorganized from ASA Ghana (NGO), the company serves approximately 243,000 low-income female business owners who lack access to credit from traditional banks, operating 154 branches across 9 regions of Ghana with a USD 128.5 million outstanding loan portfolio and a 1.3% portfolio-at-risk over 30 days.

The company operates the standardized "ASA Model" of microfinance, under which nearly all branches are identical and managed uniformly, with a lean head office and decentralized, disciplined field operations. Lending is structured as individual lending via client groups without joint-liability, where group members perform non-financial screening functions and social cohesion supports repayment discipline. The product set comprises five loan products (Small/Weekly Loan, Individual/Monthly Loan, SME Loan, Education Loan, Asset Financing Loan) and four deposit/savings products (ASA Savings Account, Fixed Term Deposit, ASA Long-Term Savings Account, ASA Current Account). Core technology is built on Temenos T24 core banking software, and the company has been continuously ranked as the leading Non-Bank Financial Institution on Ghana Club 100 since 2016.

ASA S&L generates revenue primarily from interest on its microfinance loan book, supplemented by deposit-related fees (minimum savings deposit of GH₵10.00, fixed-term deposits of 3/6/12 months, and zero-maintenance current accounts). Distribution is heavily branch-based with face-to-face lending through loan officers and branch managers conducting group meetings at fixed times and locations. The company has grown materially from 61 to 153 centers and has transformed from a loss-making to a profit-making entity under current CEO Md. Aourongjeb, while expanding leadership bench strength across CFO, CIO, CRO, and HR functions.

Name

ASA Savings & Loans Limited

Legal name

ASA Savings and Loans Limited

Website

https://ghana.asa-international.com

Company type

Private

Founded year

2009

Operating status

Operating

Headcount range

251–500 employees

Short description

ASA Savings & Loans Limited is a Bank of Ghana-regulated microfinance institution serving 243,000 low-income female entrepreneurs in Ghana through 154 branches, offering five loan products and four deposit products under the standardized ASA Model as a subsidiary of LSE-listed ASA International Group Plc.

Ownership category

akta.pro rank

Product category

Microfinance

NAICS

Savings Institutions and Other Depository Credit Intermediation (522180)

SIC

Savings Institution, Federally Chartered (6035)

akta.pro primary industry

Small Business Banking (Microbusiness/Sole Proprietor) (FSABAAAI)

akta.pro secondary industries

SME Term Loans & Growth Capital (FSAKAGAB), SME Deposits & Business Accounts (Operating, Savings, CDs) (FSABABAC)

Keywords

• Microfinance loans
• Savings accounts
• Fixed term deposits
• SME lending
• Education loans

Headquarters

HQ city

Accra

HQ country

Ghana

HQ region

Africa

Offices3 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Microfinance Loans: The company provides small loans to low-income female business owners through five loan types: Small Loan (weekly), Individual Loan (monthly, 10-month term), SME Loan, Education Loan, and Asset Financing Loan. Revenue generated from interest on loans.
2. Savings Account Fees: ASA Savings Account with minimum deposit requirement of GH₵10.00, providing innovative savings services to prospective and potential customers.
3. Fixed Term Deposits: Investment accounts with fixed amounts over periods of 3 months, 6 months, or 12 months.
4. Current Account Services: Transactional current accounts with zero maintenance charges.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

ASA Savings & Loans Limited is a Ghanaian microfinance institution that provides small-ticket credit and deposit products to low-income, predominantly female, micro-entrepreneurs. Its core business comprises five loan products (Small Loan, Individual Loan, SME Loan, Education Loan, Asset Financing Loan) and four deposit products (ASA Savings Account, Fixed Term Deposit, ASA Long-Term Savings Account, ASA Current Account), delivered through 154 branches across 9 regions of Ghana.

Product overview

ASA Savings & Loans Limited is a Savings and Loans Company regulated by the Bank of Ghana, providing financial services to low-income female business owners. The company operates the ASA Model of microfinance and offers a portfolio of nine products across two categories: five loan products (Small Loan/Weekly Loan, Individual Loan/Monthly Loan, SME Loan, Education Loan, and Asset Financing Loan) and four deposit/savings products (ASA Savings Account, Fixed Term Deposit, ASA Long-Term Savings Account, and ASA Current Account). Loans are provided via individual lending through client groups without joint-liability, serving entrepreneurs who lack access to credit from traditional banks. The company maintains 154 branches across nine regions in Ghana serving 243k clients with a USD 128.5m outstanding loan portfolio.

Differentiator

Problem solved

Functional benefit

Products and services

• Small Loan The smallest-ticket credit product offered by ASA Savings & Loans, targeted at low-income female micro-entrepreneurs for working capital needs. Designed for fast turnover and frequent repayment, it forms the core of the institution's inclusion-focused lending portfolio.
• Individual Loan A loan product underwritten to individual borrowers (rather than lending groups) within ASA's microfinance client base, serving micro-entrepreneurs whose needs exceed the Small Loan ticket.
• SME Loan A small and medium enterprise loan product offered to graduating microfinance clients whose businesses require larger working-capital or expansion financing than micro-loans provide.
• Education Loan A purpose-specific loan product designed to help microfinance clients and their families finance educational expenses (such as school fees), aligning with the institution's inclusion mission for women and their households.
• Asset Financing Loan A loan product enabling micro and small entrepreneurs to finance productive assets (such as equipment or business assets), supporting business growth and income generation.
• ASA Savings Account A standard savings account offered to individual clients, providing a safe, regulated deposit facility and earning interest, suitable for the daily deposit and withdrawal needs of micro-entrepreneurs.
• Fixed Term Deposit A time-bound deposit product where funds are placed for a fixed tenor at a contracted interest rate, targeting clients who can set aside funds for a predetermined period.
• ASA Long-Term Savings Account A long-horizon savings account tailored to microfinance clients seeking to accumulate savings over an extended period, complementing the standard ASA Savings Account.
• ASA Current Account A transactional current account providing deposit and withdrawal functionality for clients' everyday business and personal banking needs, including small businesses operating in the informal sector.

Named customers1 record

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Scale indicators6 records

Recent moves2 records

Expansion highlights5 records

Direct peers

• Advans Ghana Savings and Loans: Direct competitor in the Ghanaian NBFI and microfinance space, offering similar small loans and savings products to small businesses and underserved populations under a comparable community-led lending model and the same Bank of Ghana regulatory framework.
• Sinapi Aba Savings and Loans: Ghanaian savings and loans company providing microfinance and banking services to small businesses and individuals, competing head-to-head with ASA in the same NBFI regulatory category with overlapping customer segments and product offerings.
• Letshego Ghana: Pan-African inclusive finance company operating in Ghana with consumer and microfinance lending products targeting salaried employees and small businesses, overlapping with ASA in the underserved customer segment.
• Opportunity International Savings and Loans Ghana: International microfinance institution with Ghana operations providing small business loans and savings products to underserved entrepreneurs, with similar target market, group-based methodology, and financial inclusion mission.
• Bayport Financial Services Ghana: Consumer and small business lender in Ghana providing payroll-deduction loans and similar credit products to formal and informal sector workers, competing for adjacent customer segments at the lower end of the credit market.

Broad incumbents

• GCB Bank PLC: Largest state-owned commercial bank in Ghana offering retail and SME banking including microfinance-adjacent products, a much larger incumbent that competes for the broader banking wallet of Ghanaian customers across deposit and lending products.
• Fidelity Bank Ghana: Established Ghanaian commercial bank with retail and SME banking services, including digital banking offerings that overlap with ASA's microfinance customer base at the upper tier of small business lending.
• Republic Bank (HFC Bank) Ghana: Universal bank in Ghana (formerly HFC Bank, now part of Republic Bank Group) offering commercial, mortgage, and consumer banking, with operations overlapping ASA's small business and personal banking segments.

Regional players

• ASA Microfinance Tanzania: Sister subsidiary under ASA International Group operating the same standardized ASA microfinance model in Tanzania, offering a like-for-like regional benchmark for ASA Ghana's unit economics, branch productivity, and operational scaling.
• Equity Group Holdings (Equity Bank Kenya): Microfinance-focused commercial bank headquartered in East Africa with a similar model of serving unbanked and small-business customers through accessible branches, agent networks, and small-ticket loans, providing a regional benchmark for inclusive banking.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/asa-savings-loans-limited

Revenue estimate

Valuation estimate

Number of profiles

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 ASA Savings & Loans Limited