Privacy Policy
Effective date: 1 May 2025 · Ocean Capital Microfinance Limited
Your privacy matters to us. This policy explains what personal information Ocean Capital Microfinance Limited collects, why we collect it, how we use it, and your rights in relation to it.
1. Who We Are
Ocean Capital Microfinance Limited ("Ocean Capital", "we", "our", or "us") is a wholly Ghanaian-owned microfinance institution licensed by the Bank of Ghana (Licence No. 00490). Our registered office is at the 4th Floor, SSNIT Emporium, Airport City, Accra, Ghana. We are committed to protecting the privacy and security of your personal information in accordance with the Data Protection Act, 2012 (Act 843) of Ghana and all applicable regulations.
2. Information We Collect
We collect personal information that you provide to us directly, including but not limited to: • Full name and contact details (phone number, email address, postal address) • National identification information (Ghana Card, Voter ID, Passport) • Employment and income information • Financial information necessary to assess loan or savings applications • Transaction history with Ocean Capital • Information submitted through our website contact form We may also collect information automatically when you use our website, such as your IP address, browser type, and pages visited, through cookies and similar technologies.
3. How We Use Your Information
We use your personal information to: • Process and manage loan, savings, and investment applications • Conduct identity verification and credit assessments • Fulfil our regulatory obligations, including Know Your Customer (KYC) requirements under Bank of Ghana directives • Communicate with you about your account, products, and services • Respond to enquiries submitted via our website or branches • Improve our services and website • Detect and prevent fraud or financial crime • Comply with applicable laws and regulatory requirements
4. Legal Basis for Processing
We process your personal data on the following legal bases: • Performance of a contract — where processing is necessary to provide our financial services to you • Legal obligation — where we are required to process your data to comply with Bank of Ghana regulations, anti-money laundering laws, and other applicable legislation • Consent — where you have given us explicit consent, such as when you submit our website contact form • Legitimate interests — where processing is in our legitimate business interests and does not override your rights
5. How We Share Your Information
We do not sell your personal information. We may share your data with: • Bank of Ghana and other regulatory authorities, where legally required • Licensed credit reference bureaux, for the purpose of credit assessments • Third-party service providers who support our operations (e.g. IT providers, insurance partners), under strict confidentiality agreements • Law enforcement agencies where required by law or court order Any third party with whom we share your data is bound to handle it securely and in accordance with applicable law.
6. Data Retention
We retain your personal information for as long as is necessary to fulfil the purposes for which it was collected, including satisfying legal, regulatory, accounting, or reporting requirements. The specific retention period will depend on the nature of the data and the regulatory requirements that apply to it.
7. Your Rights
Under the Data Protection Act, 2012 (Act 843), you have the right to: • Access the personal information we hold about you • Request correction of inaccurate or incomplete data • Object to the processing of your personal data in certain circumstances • Request erasure of your data where it is no longer necessary for the purpose it was collected • Withdraw consent at any time, where processing is based on consent To exercise any of these rights, please contact us using the details in Section 9 below.
8. Security
We implement appropriate technical and organisational measures to protect your personal information against unauthorised access, loss, destruction, or alteration. However, no method of transmission over the internet or method of electronic storage is completely secure. While we strive to protect your information, we cannot guarantee absolute security.
9. Contact Us
If you have any questions about this Privacy Policy, wish to exercise your rights, or wish to make a complaint, please contact us at: Ocean Capital Microfinance Limited 4th Floor, SSNIT Emporium, Airport City, Accra, Ghana Email: info@oceancapitalmfi.com Phone: 0303 960234
10. Changes to This Policy
We may update this Privacy Policy from time to time to reflect changes in our practices or applicable laws. The updated policy will be posted on our website with the effective date. We encourage you to review this policy periodically.