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    Rate of increase in value of MoMo transactions dipped in 2021

    IEA calls for changes in current inflation targeting structure

    Bank of Ghana maintains policy rate at 14.5%

    Kwamina Bentsi Enchill Duker appointed as 1st CEO of Development Bank Ghana

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First National Bank Ghana Limited gives financial inclusion a major boost as it introduces agency banking

bycitibusinessnews
September 19, 2019
in Banking And Finance, Business
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The government’s financial inclusion policy has received a major boost from First National Bank Ghana Limited.

In a move that is expected to greatly contribute to the reduction in Ghana’s unbanked population, First National Bank Ghana Limited has announced the introduction of its agency banking initiative which has been lauded as a major success in other African countries where the bank operates. After about three years of successful operation in Ghana, the bank has made the strategic decision of introducing its agency banking service into the country to bring its innovative banking offerings to the doorsteps of as many Ghanaians as possible.

The agency banking service is part of the bank’s strategic plan to expand its reach in Ghana without the need to open brick and mortar branches. Under the initiative the bank will partner with existing businesses in various communities to operate as agencies which will offer a range of banking services to customers. It is expected that the successful roll out of the agency banking service will help increase the bank’s footprints across the country and provide convenient banking to existing and future customers.

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“Our agency banking business is a functional and scalable model which allows us to partner with businesses across the country to deliver cash solutions to customers within their communities,” the bank’s Head of Retail Banking, Hannah Annobil-Acquah says.  “We also believe that this new channel and customer touchpoint will enable us contribute meaningfully and positively to improving financial inclusion in Ghana.”

The agency banking service adds to a number of innovative banking products from First National Bank Ghana Limited. These include its award-winning digital platforms, which enables customers to satisfy almost all their banking needs on a web browser or on the bank’s mobile app, making it virtually unnecessary for them to visit a branch. First National Bank Ghana Limited, however, recognises that sometimes interfacing with a human being is inevitable. That’s where its new agency banking service becomes beneficial.

“With agency banking, we are taking yet another important step towards making banking services available to Ghanaians like never before,” Delali Dzidzienyo, the bank’s head of marketing and corporate affairs says. “This is yet another demonstration of our commitment to placing the customer right at the centre of everything we do. Agency banking means the customer will always have quick and easy access to funds because an agent will always be very close by.”

The pioneer agencies under First National Bank’s agency banking initiative are in Accra and Tema and plans are far advanced for more agencies to be opened in the regional capitals before the end of the year.

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Fuel prices to go up as Price Stabilisation and Recovery levy is restored

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