Naa Sika Bags Technology Innovation Award 2022

Naa Sika is proud to announce that we have been awarded the Technology Innovation Award by the Ghana Association of Microfinance Companies (GHAMFIN). This prestigious recognition celebrates our commitment to advancing digital financial services for Ghana's informal economy.

About the GHAMFIN Awards

The Non-Bank Financial Institutions (NBFI) Award scheme has been designed to celebrate the successes of NBFIs and Microfinance Institutions (MFIs) in their intermediation roles and activities. This framework supports all Non-Bank Financial Institutions to improve and develop, unleashing their full potential.

The scheme offers NBFIs and MFIs the opportunity to demonstrate that they meet the standards set by the sector umbrella organization, assessed by their peers, and put in place conditions for continued improvement.

GHAMFIN, as the umbrella body, instituted an Awards Night to celebrate excellence, credibility, and award the best-performing institutions while encouraging others to improve and become more sustainable.

Why This Award Matters

The financial services sector in Ghana has contributed immensely to micro business development and poverty reduction. However, some institutions have raised concerns about credibility and financial security. The GHAMFIN Awards recognize institutions that demonstrate:

✓ Excellence in financial services innovation
✓ Credibility and transparency in operations
✓ Strong commitment to client satisfaction
✓ Technology-driven solutions for financial inclusion
✓ Sustainable business practices

Naa Sika receiving Technology Innovation Award at GHAMFIN Awards Ceremony

We've successfully digitized traditional savings practices like susu, making them more accessible, secure, and transparent for market traders, artisans, and small business owners across Ghana.

"It is only through the sector working together, to share best practices, drive up standards, and support those committed to improving their offer to clients that individual NBFIs and MFIs and the sector will reach their full potential."

The Award Evaluation Process

The award evaluation was rigorous and comprehensive, involving:

Technical Committee Review: Experts, academics, practitioners, financial service providers, and association representatives reviewed performance and relevant documents
Mystery Shopping: Carried out at selected institutions to gather vital information
Client Satisfaction Surveys: Randomly selected clients rated satisfaction using parameters with ratings 1-5 (1 - least, 5 - highest)
Peer Assessment: Evaluation by industry peers and sector representatives

Looking Forward

This award is a testament to our team's dedication and our users' trust. We remain committed to:

Continuing to innovate in digital financial services
Maintaining the highest standards of transparency and credibility
Serving Ghana's informal economy with accessible, secure financial solutions
Contributing to financial inclusion across West Africa

We thank GHAMFIN for this recognition and our users, partners, and team members who have made this achievement possible. This award motivates us to continue pushing the boundaries of what's possible in digital financial services.