UT Financial Services: Looking for the next mountain to conquer
An entrepreneur and co-founder of a private, non-deposit-taking, non-bank financial firm in Africa took his company public following a decade of phenomenal growth and strong performance. Established in an era when the traditional financial institutions would not grant credit to small and medium enterprises, the company successfully pioneered a wide variety of unique services in the non-bank financial services industry. Capitalizing on the failure of formal institutions to meet the needs of the informal sector, the entrepreneur had achieved organic growth by providing short-term loans and complementary services to customers in the neglected segment of the financial services market. The image of a high-performing company, coupled with the successful initial public offering surpassing all expectations, put tremendous pressure on the company to continue to grow the enterprise and deliver superior performance. To obtain substantial funds from the investing public, the onus is on the entrepreneur to select and pursue an appropriate strategy to keep the enterprise on a growth trajectory.
Anthony Ebow Spio and Anthony Essel-Anderson are both faculty of the Business Administration department of Ashesi University College
UT Financial Services, Ghana, SMEs, non-banking finance
Spio, A.E. & Essel-Anderson, A. 2015. UT Financial services: Looking for the next mountain to conquer. Ivey Publishing. Case 9B15M080. 13p.