DFS CAL Bank GH (IFC-601936)

Countries
  • Ghana
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
U
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Nov 5, 2016
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Financial Institutions Group
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Advisory Services
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Project Cost (USD)
$ 2.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS Mar 2, 2018

Disclosed by Bank Jan 3, 2018

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

IFCs role in the project will be to provide technical assistance to CAL Bank Ghana in the following areas:

1. Market research - to segment the market and understand what opportunities for financial services exist and how CAL Bank can respond
2. Business strategy developing the business case for an agent banking model that provides the right incentives for all players in the value chain
3. Technology and tools deploying technology and tools that can support the deployment and management of an agent network
4. Agent network developing the agent network strategy including operational processes and tools to ensure that agents meet the standards set by the bank
5. Risk management IFC will support the bank to develop its risk management strategy to include risks specific to digital financial services and agent banking.
6. Customer acquisition - IFC will develop a comprehensive marketing strategy that combines various elements designed to promote and optimize customer acquisition and activation in line with CAL Banks growth objectives.

People Affected By This Project
People Affected By This Project refers to the communities of people likely to be affected positively or negatively by a project.

The objective of the project is to provide technical advisory services to support CAL Bank Ghana Limited launch its agent banking service in Ghana. This will provide access to improved financial services to existing and new (previously unbanked) customers. The expected results at the end of this 3 year project are:

1. Design and implement the agent banking model.
2. Design and implement at least 2 new mass market products to be delivered on the channel
3. Build an agent network countrywide that will increase the banks coverage and provide services to more customers including rural locations.
4. Develop the banks digital financial services risk management strategy

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

No project contacts available at the time of disclosure

ACCOUNTABILITY MECHANISM OF IFC

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/

How it works

How it works