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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
GFP founder Akua Donkor passes on
Akua Donkor
The founder and leader of the Ghana Freedom Party (GFP), Madam Akua Donkor, has passed away.
She died at the Greater Accra Regional Hospital on Monday, October 28 at 72.
Reports gathered by The Spectator indicated that she was diagnosed with respiratory issues at the Nsawam Government Hospital and was referred to the Greater Accra Regional Hospital where she died.
Known for her spirited presence in Ghanaian politics, Akua Donkor was a staunch advocate for the rights of farmers and women.
Her bold and outspoken demeanour enabled her to capture public attention and significantly impact the grassroots communities she aimed to represent.
Throughout her political journey, she distinguished herself by running for the presidency multiple ti mes, demonstrating remarkable resilience despite financial challenges.
Akua Donkor was listed as the third candidate on the ballot for the upcoming 2024 presidential election.
Her political career began with her election as the Assemblywoman for Herman in the Ashanti region, and she made her first bid for the presidency in 2012 as an independent candidate.
She was, however, disqualified by the Electoral Commission in 2012 and 2016 for the reason that she did not meet the eligibility requirements.
News
Stop using breast enhancing creams …they expose females to breast cancer
Mrs Enyonam Abiti making a presentation
Women have been cautioned to stop using of breast enhancing creams which is said to contain estrogen, predisposing them to the breast cancer disease.
Using such creams over time increases estrogen levels in patrons of such products thereby exposing them to the disease.
Estrogen is a type of sex hormone responsible for development and regulation of female reproductive system and secondary sex chart.
Mrs Enyonam Abiti, a medical officer at Madina Pentecost Hospital, said this at a day’s seminar and breast cancer awareness creation day at Sunyani in the Bono Region.
The programme, organised by the Bono Regional office of COCOBOD, forms part of activities to mark this year’s World Breast Cancer Day celebrations held every year in October.
Some staff of COCOBOD and women in cocoa farming used the opportunity to have their breast screened.
Mrs Abiti during a presentation revealed that one in every eight women was diagnosed of breast cancer while 1 from 1,000 men contract the disease.
She noted that early detection and regular screening was the surest way to salvage the situation.
She mentioned that habits such as excessive smoking and alcohol intake predisposes women to breast cancer.
Moreover, she added that people advanced in age, past history, past ovarian cancer case as well as young girls that menstruate early, among others stands the risk of contracting the disease.
The Bono Regional Administrator of COCOBOD, Michael Paddy Kwesi Asumanu, stated that the decision to organise the breast screening was to ensure that women in cocoa farming were healthy at all times to go about their farming activities in order to increase productivity.
“We don’t want a situation where our women in cocoa farming are infected with breast cancer disease to jeopardise the cocoa sector,” he said.
According him, the Regional Office of COCOBOD in partnership with the Bono Regional Teaching hospital would organised screening for about 4,000 women on October 31, 2024 at Goaso in the Ahafo Region.
The move, he said, was part of their corporate social responsibility towards women as the world mark breast cancer awareness creation this month.
Some of the women who spoke to The Spectator commended COCOBOD for the gesture and called on other institutions of state to emulate the example.
The organisers later held a float on the principal streets of Sunyani to create awareness on the breast cancer disease.
From Daniel Dzirasah, Sunyani