Bayport Savings and Loans has remained resilient despite current economic challenges after making significant gains during the first half of 2022. With a focus on cost containment, the operation recorded a strong financial performance with profit after tax increasing by 65%, from Ghs 17 million in the first nine months of 2021 to Ghs 28 million during the same period this year. This significant growth in profit was driven by an increase in net interest income, which was the result of aggressive commercial activity in the first half of 2022 together with initiatives implemented to reduce the cost of borrowing in response to challenging economic conditions. Bayport also maintained its number one position in the Government payroll-lending space with a 17.1% market share (total CAGD deductions). The Bayport digital strategy contributed significantly to cost containment and will continue to do so in the future. During the first half of the year, more than 800 customer service-trained field agents equipped with Bayport-issued electronic tablets originated loans digitally, offering our customers a delightful experience. This was complemented by our digital call center which offers existing customers a seamless experience when applying for a loan over the telephone. Customers are also able to perform e-money transactions through a self-service e-money platform thus enabling Bayport to achieve the goal of becoming a cashless operation. Bayport’s digital origination and front office operations journey that started in 2019 is now complete. The focus for the last quarter of the year is to complete the digitization of credit and back-office processes to support straight processing. This will enable customers to engage directly with Bayport through self-service channels to receive instant loan approval decisions and cash disbursements through our self-origination WhatsApp and USSD channels. Bayport’s digital journey commenced three years ago, during this period, all back-office operational staff and agents had been fully trained to use the new applications. This has significantly improved loan turnaround times, overall customer experience, and operational risks. “With digitization, we are transforming our business to grow rapidly and sustainably, while providing first-class financial solutions for our customers,” says Akwasi Aboagye, CEO of Bayport Savings and Loans. “Through these and other initiatives, Bayport continues to take the lead in the savings and loans sector.” On the corporate social responsibility front, 20 new beneficiaries were enrolled in the Bayport scholarship scheme this year. Over 120 students in total have been offered scholarships since the scheme was launched. The scholarship takes care of tuition, books, and accommodation costs up to the university level, as long as the student delivers good academic results. Bayport also purchased and donated phototherapy and incubator units to the Agogo Presbyterian Regional Hospital. The cost of the equipment amounted to GHs100,000.00. Through an employee-led social initiative, Bayport staff raised Ghs 50 000 to support the Enough Grace Foundation, an orphanage in Awoshie, to improve the living standards of about 146 underprivileged children. BAYPORT MANAGEMENT LTD (BML) Bayport Management Ltd (BML) is a holding company of subsidiaries operating in eight countries in Africa and Latin America: Botswana, Colombia, Ghana, Mozambique, Mexico, Tanzania, Uganda, and Zambia. Bayport has an extensive footprint of more than 400 branches in Africa and Latin America, in addition to a variety of digital customer channels that enable the delivery of a broad range of financial solutions. The group of companies provides financial solutions to formally and informally employed individuals in emerging markets who are unable to access traditional banking services. Initially, Bayport provided unsecured personal loans only, but in recent years the company has branched out into insurance and savings products. Bayport gives effect to its financial inclusion mission by embracing technology, product leadership and innovation, striving to become the leading developing markets financial solutions provider.