Best Point Savings and Loans MD succumbs to Covid-19

Best Point Savings and Loans MD succumbs to Covid-19
The late Philip Odei Asare

The Managing Director of Despite Group’s financial institution, Best Point Savings and Loans, Philip Odei Asare has reportedly died from Covid-19 complications.

It is alleged that the young, experienced banker had no underlying conditions when Coronavirus struck him.

His demise comes as a shock to industry players, family, friends, and loved ones who have been hit more with the reality of Covid-19.

Mr. Odei Asare, a strong advocate of the health and safety protocols of Covid-19, is known to have encouraged his staff and family to do likewise.

Brief Profile of Philip Odei Asare

Philip Odei Asare was a versatile and hands-on finance professional with over 22 years’ financial services experience. His key areas were Banking Regulations, Commercial Banking, Investment Banking, and Micro-Finance.

Philip was the Managing Director of Best Point Savings and Loans Ltd, ascending to the seat in 2019, he previously served as the Deputy Managing Director from March 2017 to December 2018.

Starting his banking career with the Banking Supervision Department (Bank of Ghana) in 1996, Philip ventured into the commercial space in 2004. Between 2014 and 2016, He worked as Chief Financial Officer and then Managing Director (acting) with FINCA Microfinance Holdings, Zambia after a brief stint with the Royal Bank as Senior Vice President – Finance in 2013/ 2014.

Philip joined Access Bank (Ghana) in 2010 initially as Group Head – Commercial Banking, and later as Head – Risk Management. In 2004, he joined Opportunity International Savings & Loans Ltd rising to Chief Financial Officer and later as Chief Executive Officer (acting).

Philip held an MBA and BA (Hons) degrees from the University of Ghana and was a professional accountant with twenty years’ experience. He was a member of the Institute of Chartered Accountants- Ghana (ICA-GH) as well as a member of Zambia Institute of Chartered Accountants (ZICA).

Philip was a Certified Investment Banker by the Ghana Stock Exchange and had also attended other professional programs which included Certified Bank Examiner- Banking Supervision and Regulations Office of the Federal Reserve Bank, Washington D.C, USA as a Bank Examiner, and Excellence in Small Scale Financial Management – Bankakademie International, Frankfurt, Germany.

He also attended a leadership development program – Centre for Creative Leadership in Brussels, Belgium, Risk Management Excellence for microfinance experts, Luxembourg, as well as Post Chartered Diploma in IFRS.