Prestige Capital records almost 8,000 percent in funds mobilization

Prestige Capital Limited, a funds management and investment advisory company, has recorded close to 8,000 percent increase in funds mobilization, barely a year into operations.

The company’s funds under management of Gh₵500,000, at take off period in December 2012, have grown in excess of Gh₵40million.

Chief Executive Officer, Prince Kweku Acheampong, describes the performance within the period as good, though experienced low deposits in the month of September.

“The funds management industry is an alternative to financing institution to the banks because there are certain transactions that the banks don’t undertake. Basically we deal with the corporate [institutions] and our financing is long term,” he noted.

Prestige Capital is the third investment advisory firm to be headquartered in Kumasi. An additional branch will be opened in February 2014.

“Our strategic plan is to have a bank subsidiary,” Mr. Acheampong told Luv Biz Report, projecting the target should be achieved in its 8^th year of operations.

“We’ll continue doing funds management and investment advisory but then we’ll evolve and have a subsidiary which will take care of our banking needs and the banking needs of people in the areas that we operate,” he said.

Story by Kofi Adu Domfeh