The Managing Director (MD) of Consolidated Bank Ghana, Daniel Wilson Addo has given a rare insight on how banks have supported to revive Ghana’s economy amidst the mitigating impact of the Coronavirus pandemic.
Speaking at the Ghana’s Most Respected CEOs breakfast series under the theme: Bringing the economy back to life: the role of the banking sector, Mr Addo noted that“COVID-19 had resulted in the slowdown of the economy however, banks could be essential to the recovery of the economy.
He said “As banks, we are very much aware of this greater responsibility, because COVID-19 has taught us to show more empathy than we used to. We have also taken up the role as educators, and I believe we will ensure customers and small scale enterprises stay in business.”
Mr Addo said CBG was adjusting to the needs of customers by gearing to support SMEs in many ways such as lending to them and introducing them to key products that focuses on helping them grow.
Pointing out how CBG was ensuring effective customer service in the face of the pandemic, he explained that the bank was operating efficiently even with reduced workforce at the various branches.
“Banking is a customer focussed business and we at CBG have been very innovative in a time like this to ensure business continuity and customer satisfaction. To enable effective communication, we have beefed up our contact centres, leveraging technology for efficient customer-service delivery. We are communicating more with customers on digital platforms, social media pages, and updating them on the activities of the bank every now and then,” he said.
“Our business model as a resilient and agile bank is to be poised and play our role as a financial institution to help customers and businesses. We will continue to stand with customers during these difficult times,” he added.
According to Mr Addo, all businesses should learn from this pandemic as business disruptions and pandemics are inevitable.
The 5th edition of the CEO Breakfast Series aimed at bringing together seasoned business leaders and banking experts to deliberate on how financial institutions can successfully navigate the COVID crisis, support businesses, revitalise and revive the economy, and ultimately spur economic growth.
