XDS Data, a privately owned credit reference bureau based in Accra, Ghana, recently reported that it is reaching out to microfinance institutions (MFIs), rural banks, insurance companies and utility companies for customer information to add to its credit reference database. Commercial banks in Ghana already subscribe to XDS Data’s services. XDS Chief Executive George Ahiafor predicts that lending costs will decrease as more institutions provide the bureau with information since he believes high interest rates are directly related to credit risk. The shareholders of XDS Data are XDS South Africa, Databank Financial Services Limited of Ghana and Debenture Trust Company Limited of Ghana.
By Julie Moksim, Research Associate
About XDS Data: XDS Data is a privately owned company based in Accra, Ghana. XDS Data provides credit bureau services to provide lenders with information related to credit checks, insurance claims and quantitative risk analysis. Clients can also access the company’s online database to search for information such as fraud records and vehicle information. The shareholders of XDS Data are XDS South Africa, Databank Financial Services Limited of Ghana and Debenture Trust Company Limited of Ghana.
Sources and Additional Resources:
Joy Business Online: “Credit Reference Bureau Targets Microfinance Institutions”, April 12, 2011, http://news.myjoyonline.com/finance/201104/64128.asp
MicroCapital.org Brief, March 15, 2011: MFTransparency, Ghana Microfinance Institutions Network (GHAMFIN) Launch Transparent Pricing Initiative in Ghana, https://www.microcapital.org/microcapital-brief-mftransparency-ghana-microfinance-institutions-network-ghamfin-launch-transparent-pricing-initiative-in-ghana/
MicroCapital’s Microfinance Universe Profile: XDS Data
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=XDS+Data
Browse the MicroCapital Universe and add your entry to the wiki at: https://www.microcapital.org/microfinanceuniverse/
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