The Managing Director of the Ghana Commercial Bank (GCB), Mr. Samuel Sarpong has urged stakeholders in the financial sector to use electronic payment system as a means of reducing the unbanked population in the country.
Ghana’s unbanked population, according to the World Bank is around 70 percent, a situation some financial experts have described as discouraging.
Speaking to Citi Business News, Mr. Sarpong maintained that a substantial number of Ghana’s population would have been enrolled unto the banking system if integrated into electronic payment platforms.
“We have a large number of unbaked individuals in the country, basically it calls for education and bringing them into the main stream banking”, he said.
Mr. Sarpong who made the assertion at the launch of a new product “GCB Lite Pay”, pointed out that electronic payment system would also reduce cash circulation among traders and protect them from armed robbers.
Calling for a pragmatic move to encourage the adoption of electronic payment system, Mr. Sarpong described as slow current methods used by stakeholders to attract the unbanked population.
He there encouraged the use of the GCB Pay Lite electronic payment platform which he emphasized is easy to use.
Speaking at the launch, the Board Chairman of GCB, Mr. Daniel Owiredu reiterated the banks vision to improve its performance by impacting the lives of Ghanaians through sound investment.
He lauded the management team for leading the way to move Ghana into a cashless economy.
He was of the view that the simplified nature of the product would encourage the general public to adopt electronic payment system in business transactions.
By: Pius Amihere-Eduku/citibusinessnews/Ghana