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UT Financial to Start Business in Nigeria in March

24th Feb. '09

UT Financial Services Limited, arguably one of Ghana's most successful non-bank financial companies will begin business in Nigeria in March, the CEO, Prince Kofi Amoabeng has said. After growing and expanding since its inception in 1997 to cover almost all of southern, the middle part of Ghana and ready to set up in the northern part with about 14 branches in operation, the company is ready to meet the needs of the people of Nigeria with its services and products which helps to improve the lives of people. In an exclusive interview with www.ghanabusinessnews.com, he said the company was ready to start business in Nigeria. "We are ready to start. We have offices, staff and everything we need to start."

He said, the Central Bank of Nigeria has issued UT Financial with a provisional license, to start a non-bank financial services there "and we are ready to roll." While admitting that Nigeria is a bigger market, he says structures for doing business are not available in that country just like in Ghana. UT Financial already has an office in Germany.

Mr. Amoabeng told ghanabusinessnews.com that because it is difficult to get a license to operate as a non-bank financial institution in Germany, the company is operating a prototype office there, which is serving Ghanaian residents in that country. He said, the office in Germany, services loans to Ghanaians resident in that country through the Ghana office to clear their goods and so on. He also added,"we intend to set up in the UK and the US by 2010." Some of the key values according to Ghana's Most Respected CEO which has propelled the company forward are love and respect for people. He said “if you are doing business, you must keep in mind that it is service to the people.

Give people what they want and think about how you can serve people. If you love people and you think constantly about people's needs and how you can help them "that is business." He argued that if you don't love and respect people, you will not think about how to provide services and products that meet their needs. Mr. Amoabeng advised people who want to be successful in business to learn to think about what they can do to help others and stop concentrating on themselves.

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