The Managing Director of Capital Bank, Fitz Gerald Odonkor has hinted that the sudden drop of the cedi was unexpected but however, believes it will bounce back soon and will not affect businesses activities negatively.
Mr. Odonkor however, stated that the stability of the cedi and power issues has made a tremendous impact on business activities.
He was speaking at the launch of the bank’s new product campaign dubbed ‘V-Man product’ as part of measures to become a Tier 1 bank in the next 5 years.
‘‘Our strategic focus at this stage is to become a Tier 1 bank in 5 years and position ourselves for expansion across the African market. We have set ourselves on the path of accelerated growth with the deployment of superior technology that will be the launchpad for the development of more customer- focused solutions, the deployment of a more responsive organizational structure and the enhancement of our human capital’’, he said.
Fitz Gerald Odonkor added that, ‘‘Capital Bank is focused on being a stronger player in Ghana’s retail banking sector. We are currently deploying technology to deepen the frontiers of branchless banking and also offer end to end digital banking solutions. We are the first bank to make it possible for customers to deposit cash into their bank accounts with our Speed Banking solution which has currently evolved from a cash deposit solution used by only our customers into a payment platform that can be integrated into third party systems.”
The V-Man product provides an opportunity for the public to open accounts and build up cash reserves for their future needs.
Speaking to Citi Business News FitzGerald Odonkor stressed that the bank is willing to support entrepreneurs to develop their businesses.
‘‘The banking industry also provides opportunities for entrepreneurs; business people to be able to finance projects that they have which ultimately will lead to increase in employment. So the banking sector is key for the development of the country’’.
By: Jessica Ayorkor Aryee/citibusinessnews.com/Ghana