Waxson Financial Services Launches New Product
Waxson Financial Services (WFS), an indigenous financial institution, has launched an innovative high-yielding investment product called the WFS Treasury Plus Investment (TPI).
The TPI, which is a Government of Ghana (Go) Treasury bill market-link instrument, is designed to provide higher returns on investments than the traditional fixed income investment.
Korsi Dzokoto, Chief Executive Officer (CEO) of WFS, in a release, said that ‘TPI is an inflation sensitive product and provides a unique opportunity to take advantage of superior yields while providing principal and interest protection for conservative investors.’
He added that ‘it is designed for investors looking to manage investment risk in order to protect wealth, as well as provide guaranteed higher returns.’
The minimum investment amount for individuals under the WFS Treasury Plus Investment (TPI) is GH¢10,000.00 and GH¢20,000.00 for institutions.
While the product offers 10% more interest above GoG Treasury Bill rate or 12%, if inflation increases above 25% of the prevailing rate, the annual accrual compound interest is therefore paid at maturity.
Clients wouldn’t have to worry about variations in economic indicators like inflations and interest rates, among others, it said.
The directors of the company said that Waxson Financial Services, which was established in 2011 and currently located at Mamprobi in Accra, intend to recapitalize the company to facilitate the expansion of firm in the near future.
WFS provides financial and investment management services to Small and Medium-scale Enterprises (SMEs) and individuals, credit unions, among others.
Their products include rent advance, current account, savings account, fixed account, among others.
By Fred Duodu
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