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Banks urged to offer more digital solutions to customers
President of the Chartered Institute of Bankers, Rev. Mrs Patricia Sappor, has urged banks to deepen their collaboration with the financial and technology (Fintech) organisations to enable them offer more digitised solutions to customers.
She believed a lot of banks had intensified their digital operations in the wake of the COVID-19 pandemic but there was still more to be done to improve efficient service delivery.
According to her, banks could reduce operational cost by employing innovative means of doing business, in addition to encouraging clients to patronise digital channels such as Mobile Applications, USSDs, Internet Banking, among others.
Speaking at a virtual seminar to discuss the impact of the COVID-19 on the banking sector, Mrs Sappor tasked banks and other financial institutions to “proactively stay in touch and build good relationships with their clients” and support them through difficult times.
“One of the key impacts of the current pandemic is the emphasis on social distancing and contactless payment options. The situation presents financial institutions with the opportunity for digital transformation both at the front and back office levels,” she said.
Increase partnership with technology firms, she noted, could result in “efficient service delivery, quicker turn-around time and improvement in overall service experience for customers.”
While urging banks to continue observing all COVID-19 protocols, she further urged individuals and entrepreneurs to develop a savings culture.
“Banks have had to re-strategise and re-prioritise projects with the influx of the COVID-19 pandemic. Banks can no longer go back to their old ways of operating since the needs and psyche of customers have changed significantly as a result of COVID-19,” Mrs Sappor noted.
She said procurement of PPE and other items for the wellbeing of staff and customers had, to some extent, increased the operation cost of banks, adding that the pandemic had also led to low deposits, non-performing loans, among other challenges.
“Shareholders may, therefore, experience low returns on their investments and some may not even receive dividends at the end of 2020 financial year,” she added.
The virtual seminar, hosted by Krif Media Limited, brought together players in the industry to deliberate on measures to handle the impact of the pandemic on the sector.
Rev. Kennedy Okosun, Executive Chairman of Krif Ghana Limited, also asked stakeholders to implement strategies to help protect financial institutions from the effects of the pandemic so they could continue to be the “engine of growth” for businesses.
Mrs Abiola Bawuah, Regional CEO of United Bank of Africasaid even though COVID-19 had hit the sector hard, it had presented various opportunities for “thinking outside the box and we must all learn lessons for future interventions.”
Mrs. Mary Brown, former Deputy Managing Director of Prudential Bank, in her speech suggested that banks must set up a “Special Credit Coordinating Room that will be responsible for selling and operationalising the Bank’s Credit Strategy in response to the crisis.”
By Spectator Reporter
News
National Service Authority to Introduce Military Training
Management of the National Service Authority, yesterday, Wednesday, April 23, 2025, held talks with the Military High Command towards the implementation of the National Service Emergency Response Readiness Programme (NSERRP).
When implemented, this will reflect His Excellency the President’s commitment towards the implementation of a short military training for National Service Personnel (NSPs) as planned efforts to instill discipline, nationalism and physical fitness among Ghanaian graduates.
The President shared this position during his maiden State of the Nation Address in Parliament on Thursday February 27, 2025.
At yesterday ’s meeting, the Director-General, Mr. Felix Gyamfi reiterated the need for all personnel to undergo basic military drills and orientation as part of orienting the youth to embrace national development.
“The introduction of this military training is a step in the right direction and must be embraced by all and sundry as one of the indicators for resetting the country, particularly the youth,” he commented.
On his part, Brigadier General Amoah-Boakye assured the Authority of their willingness to provide the requisite training for personnel when the Programme officially commences.
In all, personnel will receive up to two months of composite basic military drills starting 3rd August, 2025.
News
Ghana Tourism Authority acts on concerns of minors allegedly taken to Hotel in Accra New Town.
The Ghana Tourism Authority (GTA) has taken swift action following reports circulating on social media regarding an incident involving minors allegedly taken to a hotel in Accra New Town.
The case has been formally reported to the Nima Division of the Ghana Police Service for investigation.
In line with their mandate to ensure safety and compliance in the tourism and hospitality sector, our CEO Mrs.Maame Efua Houadjeto delegated a team from the GTA Head Office, Mr. Gilbert Abeiku Aggrey, Deputy CEO, Special Duties and Mr Ekow Sampson, Deputy CEO, Operations who joined the Greater Accra Regional Director, Ms. Roberta Dawson-Amoah, and the Deputy Director of Marketing, Ms. Clara Nketiah, to visit the said facility.
The objective was to verify the facts on the ground and take necessary regulatory action.
They commended the Ghana Police Service for their co-operation and continued support in the ongoing investigation.
Additionally, the team inspected Royal Dede Beach Resort, which has been converted into a hostel under new management without official notification to the Ghana Tourism Authority.
The team discovered that the hostel’s operations were not in compliance with the L. I 2239. Meanwhile the operator has been directed to the Standards and Quality Assurance Department of the Authority for the necessary regulation.
“We remind all accommodation operators that the Tourism(Registration and Licensing of Accommodation) Regulations, 2016 (L.I. 2239) mandates every facility to register and obtain a license from the GTA before commencing operations.
This regulation ensures quality, safety, and compliance across the industry,” they noted.
The GTA they said, remains committed to safeguarding the public and upholding the highest standards in the hospitality sector and urged
the public to report suspicious or non-compliant facilities to the nearest GTA office.
