UNIQUE TRUST

THE DREAM
The idea that gave birth to UNIQUE TRUST FINANCIAL SERVICES LTD started as a hobby of the founder. In the bleak financial landscape of 1995, Mr. Prince Kofi Amoabeng, then a paid worker and investment consultant, was a matchmaker for funds. He served as a link between friends who had idle money to invest and friends whose businesses were on the decline for lack of funds.

After quitting his paid job the following year, the founder went into partnership with three friends to continue with this hobby in a full time business. Mr. Larry Chinebuah and Mr. Joseph Nsonoamoah were the first directors of a one man company. Mr. Prince Amoabeng was the sole C.E.O., Credit manager and Loan monitoring officer of the company initially called BEST FINANCIAL SERVICES LTD. The dream had now been born, the name was set to evolve and the company had roots to grow.

THE EVOLUTION
            In 1996, efforts to get Bank of Ghana accreditation resulted in the name being changed. The contention was that the name BEST was a title that was unsupported by any evidence. Hence the founder was directed to get a name that was unique. In the financial situation of 1996, where people had suffered huge losses of funds from Pyram, R5 and others, trust was scarce in non bank institutions. Hence the founder coined the name UNIQUE TRUST FINANCIAL SERVICES LTD, the moniker under which the company exists today.

The first office was a communication centre owned by the Chairman at Arena, Kantamanto in Accra. The inspectors of the Bank of Ghana were incredulous at the location. The justification of the location by the founder has become the credo of the company. The business of UNIQUE TRUST must always be accessible to the target market - the informal trading public. After the licensing saga, the next battle was winning the confidence of the public.

The confidence of the public was key to securing capital for lending. However the founder persisted with a focused zeal that yielded results. From a handful of close friends who invested small sums, the company has billions today from individuals, institutions and fund managers. The confidence of the investing public has been further strengthened by prompt payment of interest by the company and prudent transparent corporate policies. The initial one man operation has burgeoned into an efficient, departmentalized business. The company that struggled to raise ten million cedis in the first months is now a safe haven for investment funds totaling billions of cedis.

Mr. Joseph Nsonoamoah is now the Chairman of the board that also has capable professionals like Mr. Martyn Mensah, Mr. Menkah Premo, Mrs. Pearl Esua-Mensah, Capt. Budu Koomson and the C.E.O. Prince Kofi Amoabeng. The company has offices in Arena, Kantamanto; Kaneshie, Swanzy shopping arcade, Tema, Kumasi, Takoradi. The company has evolved on subsidiary to handle import of commodities, clearing and warehousing, UT LOGISTICS LTD.

The staff has grown form two in 1996 to over two hundred. The company has contributed significantly to the economy of Ghana in the past nine years. Apart from prompt and timely payment of corporate and income taxes, it has also contributed in donations and sponsorships. Numerous charities, cultural events and even social events have benefited from the activities of the company. Institutions like the Ghana National Trust Fund, Society for the Blind, National Partnership for Children are supported consistently by the company. Recently the company has adopted the emergency trauma ward of the 37 Military Hospital at a total cost of about five hundred and fifty million cedis. A significant amount has been spent over the years on marketing and advertising. This has had a huge ripple effect on the advertising industry, and the total in 2005 was about 7% of the profit before tax.

There is no gainsaying the fact that the company is a success story in the corporate world. Indeed it is even a bench mark company in the non banking financial landscape of the country. After ten years, the dream is even more compelling. Growth in the informal sector has been tremendous. Therefore the market niche exists to support even greater expansion beyond the borders of Ghana. The new vision of the company drives the growth. The new slogan proudly announces the challenge:
 THEY SAY NO; WE SAY WHY NOT.

PRODUCTS

Emergency Loans
Loans requiring attention within 24hours designed for Distressed Business Men/Women Duration-up to 3 months.

Special Purpose Loans
To finance specific transactions such as supply of goods (LPO) or short-term contracts/projects designed for Suppliers/General Merchants and Contractors.  Duration-up to 6 months.

International Travelers Business Loans
For businessmen/businesswomen who travel around the global who see opportunities that could be exploited to their benefit.  The distinguishing feature is that the business should be denominated in foreign currency.  Duration-up to 6 month.

Working Capital Financing
To improve working capital position for companies to strengthen their ability to carry on trading, manufacturing or other commercial activities in the short-term. Duration-up to 6 months.

Group Guarantee Loans 
This is additional working capital for business groups and Associates.  Duration-up to 6 months.

 Fixed Assets Improvement Loans
This type of facility is accessed by property and fixed assets owners for refurbishing for rental or sale of fixed assets such as building, vehicles, plants and machines, etc.  Duration-up to 12 months.

 Stop Gap Loans
Whiles waiting for the disbursement of an approved loan or financial package from traditional banking or other source of funding businessmen/businesswomen may avail themselves of the opportunity to utilize this facility in order not to lose time on a transaction or project.  The loan would normally be repaid form the proceeds of the main/bigger facility when disbursed.  Duration-up to 3 months.

Import/Export Finance
For the payment of Freight, acquisition of packing materials Payment of taxes and duties to facilitate quick loading/discharge of goods for export/import trade. Duration-up to 6 months

Collateral Management
Using subjects goods as collateral, UT will provide funds to pay or make part-payment of CIF values, port charges, insurance etc, and undertake to assist in the marketing, sale and accounting for the stock to discharge the loan. Duration-up to 6 months.

Funeral Loan
This is to cater for funeral expenses. Duration-up to 3 months.

Warehousing
General storage of goods on rental basis. Duration-up to 6 months.

Future Leaders Education Assistance Plan
Loans with lower interest rates for salaried workers to ease burden of making immediate huge lump sum payments to school and institutions for their wards or themselves.  Duration-up to 12 months.

Employees Loans
Loans with lower interest rates offered salaried workers to meet pressing personal obligations.

Business Advisory Services
Seeking business solutions to problems.