Public Agenda (Accra)
Ama Achiaa Amankwah
25 July 2008
GCB opens Sampa branch
Ghana Commercial Bank Ltd (GCB) has opened its 141 branch at Sampa in the Jaman North District of the Brong Ahafo region.
The Sampa branch provides all GCB banking services including savings and current accounts, flexsave and fixed deposit accounts, kudi Nkosuo, on-line transactions and Fast International Money Transfer.
Miss Joyce Attakrah, General Manager, Branch Operations, said the branch would enable citizens of the area to improve on their economic well-being. She said GCB would assist in further development of the cashew nut industry in the area. The Adontehene and Acting President of Sampa Traditional Area, Nana Magsa, advised his people to patronize the bank to enable GCB to expand its services in the district.
MTN wins two international awards at G8 Africa forum
Mobile Telecommunications Network (MTN) Group has won the Commonwealth Business Council (CBC) inaugural African Business of the Year and Brand of the Year awards at a ceremony in London.
A statement issued in Accra and signed by Ms. Mawuena Dumor, Corporate Affairs Executive of MTN, said the awards ceremony was to celebrate the rapidly transforming business landscape in Africa by promoting entrepreneurial excellence, world class best practices in business and greater visibility for African brands and companies.
It was organized by IC Publications in association with the CBC, as part of the just ended G8 African Business forum.
The statement said: "The African Business of the Year award recognizes companies that have shown outstanding returns and growth rates coupled with innovative working techniques, and the development of staff and the community it operates in."
It continued, "The Brand of the Year award recognizes companies that have achieved outstanding brand recognition in the past 12 months, with wide appeal and wider recognition both in Africa and worldwide. It is applicable to branding and re-branding exercises."
MTN was nominated along with five other business leaders for those two categories and was adjudged the winner of those two out of other 16 categories.
Antrak acquires license into Saudi Arabia
Antrak Air, an Accra based airline, says it has acquired the necessary designation to begin flying into Saudi Arabia. Its Chairman, Alhaji Asoma Banda, at a passing out ceremony for new cabin crew and dispatch officers, said the letter for the airline's designation to fly to the Kingdom has been handed over to the company.
However, there are still some technical details to deal with, including the aircraft to use, before flight operations could begin to Saudi Arabia.
"All things being equal, we hope to get over these technical hurdles before the beginning of this year's Hajj," Alhaji Banda assured. The airline expects to make two weekly flights to the Kingdom when operations finally kick-off.
Antrak Air started operations in September 2003 and operates scheduled domestic, regional and international services, as well as charter services in West Africa.
Banks directed to issue E-zwich
The Bank of Ghana (BoG) has directed all banks and savings and loans institutions to issue e-zwich smartcard to all new personal customers with effect from September 1, 2008.
The decision is due to the additional Know Your Customer (KYC) guidelines given to the financial institutions because of the passage of the Anti-Money Laundering and the Credit Reporting Acts.
While the Credit Reporting Act, which became a law in June, is expected to provide legal and regulatory framework for credit reporting in Ghana to banks, the Anti-Money Laundering Act will push for the establishment of a State Financial Intelligence Units housed in the Central Bank to process financial data on people engaged in suspicious monetary ventures.
In a statement, BoG asked the banks to issue e-zwich smartcards to all existing personal customers by December 31, 2008 as part of KYC procedures.
Furthermore, to make it easier for the unbanked to open bank accounts, under the new guidelines, account opening procedures for people who engage in low value transactions, that is below GH¢10,000, proof of residence such as utility bills will no longer be required.
Importantly, while such proof is desirable, it is no longer obligatory unless where the bank considers otherwise.
In addition to all the other benefits of using the e-zwich smartcard, these measures will eliminate identity fraud in the banking system because the fingerprints of individual customers on the e-zwich smartcard are unique.
Bosomtwi Rural Bank supports students
The Bosomtwi Rural Bank with its headquarters at Kuntanase in the Bosomtwi District of Ashanti is currently supporting 17 senior high school students who are children and wards of some of its shareholders across the country through scholarship.
Mr Felix Owusu-Achiaw, Supervising Manager of the Bank, explained that each of the students was given GH¢300 per year to relieve their parents of their financial bills.
Addressing participants at a quiz competition by the Bank to mark its 25th anniversary, he urged the students to take their education seriously, especially on issues concerning the environment, which could help them live healthy and long lives.
He disclosed that due to the bank's interest to support education, it has introduced a product to support the upkeep of newly-trained teachers posted to the Bosomtwi, Amansie East and West Districts.
"They could access loans up to GH¢1,000 to enable them to hire and furnish their rooms and begin to re-pay when they start receiving salaries."
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