Business News of 2014-03-21

Financial institutions must deepen relations with clients

A UK-based business consultant, Mr Mark Bird, has urged financial institutions in Ghana to deepen their engagement with their respective clients, since it is key to the success of their businesses.

He observed that in order for any business to attain maximum growth, it was extremely beneficial for that company to devise effective means and have direct connection with its customers, adding that “relationship with your customers is the key to expansion and not money”.

Mr Bird said this at a two-day training workshop organised by the management of First Allied Savings and Loans Limited (FASL) for its staff and clients.

The workshop, which was held in Kumasi and Accra, brought together staff and clients of FASL from the six regions the institution operates in.

The training programme sought to train management and staff of FASL on how to enhance the company’s profile through client relationship.

Engage client in your businesses

According to Mr Bird, financial institutions in Ghana must intensify their engagement with their respective clients to enable them to build a strong bond needed to expand their businesses.

He said often, financial companies focused mainly on injecting more capital into their businesses, thinking that it would enable them to attain the needed growth.

“Customers hold the key to expanding business and growing ventures. If financial institutions can understand this philosophy and work efficiently to achieve that, they would be shocked at how their businesses would grow,” Mr Bird said.

Earlier in his welcome address, the Head of Risk Monitoring and Recovery at FASL, Mr Yaw Korankye Antwi, said the rationale behind the workshop was to build the capacity of both staff and clients of the institution.

According to him, over the past years, FASL had devoted resources to enhancing its business operations, especially in the areas of increasing its presence in other regions and engaging its clients.

Source: graphic.com
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