Ralph Menz Pioneers Digital Susu Collection Enterprise in Ghana

A modernized  Savings Platform aimed at bridging the gap between the traditional way of saving popularly called Susu and Technology has been launched in Takoradi in the New Western Region of Ghana.

The unprecedented Enterprise's App called Naa Sika Susu is built on Telegram Platform  and said to be highly secured with end-to-end encryption. The Project Leader, Mr Ralph Menz revealed this at the launch. According to him: "the App is so simple and Minimalist that, it can can be used by anyone with the simplest smartphone in any part of the country, and by people who can send a text message".

He disclosed that Naa Sika Susu Enterprise is registered with the Bank of Ghana through the Ghana Co-operative Susu Collectors Association (GCSCA), the mother association which regulates activities of Susu companies in Ghana. 

Currently, Naa Sika Susu Enterprise has three (3) savings plans, which is uniquely designed for the modern Ghanaian, namely; Aku Sika, Aya Sika and Barima Sika.


With Aku Sika savings plan, a minimum deposit of 5 Ghana cedis could be made anytime by the account holder and they can make withdrawal when they earn a minimum balance of 100 Ghana cedis.

Aya Sika works just like Aku Sika, with the difference being a minimum deposit of 10 Ghana cedis instead of 5 Ghana cedis.

The third plan is called Barima Sika, also known as the Ideal Lump Sum Saving. As the name implies, minimum deposit of 100 Ghana cedis is made anytime by the account holder for a 30-day lock down period and withdrawal is permitted only at the end of the cycle.

In Ghana it is reported that Susu Companies are distributed towards urban and southern areas. In the Old Northern region, more than 50% of districts have no banks and ratio of clients to banks is 100,000:1, according to a study by Overseas Development Institute.

This means, the launch of Naa Sika Susu Enterprise is timely and will help bridge the deficit in access to banking services in the northern region and Ghana as a whole, since anyone in any part of the country can sign onto the this new Susu Platform.

Mr. Ralph Menz, Project Leader

Mr. Ralph Menz has excellent reputation in the Western region.

He is the Chief Servant of adFocus, a Multimedia Company. He is an old boy of Ghana Secondary Technical School (GSTS) and studied Mechanical Engineering and Business Administration/Management at the George Grant University of Mines and Technology, Tarkwa and College of Professional Management, UK respectively plus other credentials. He is a former General Manager of Space FM, Skyy Media Group, Best FM and Paragon FM.

In Akan language, Susu means "plan". In this context, planning with a group of people to save certain amount of money.

Unlike, the traditional Susu, which retains portion of depositors money, Naa Sika Susu Enterprise is different. At the moment, deposits and withdrawals are restricted to MTN MoMo users as they are working to integrate other mobile Telecommunications network in the coming weeks.  

Story by:
Obed Bangdome Ofori


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