Business News of 2014-04-14

Make good use of oil resource: French banker urges Ghana

The Director in charge of Societe Generale's international network, Mr Alexandre Maymat, is optimistic that Ghana will make good use of its oil and gas resources.

He noted that a major setback in many oil-rich countries was their failure to diversify their economies and only concentrate on the oil industry.

“But I am totally convinced that Ghana will take the right steps not to go through what those oil countries went through, so that the country will reduce the pressure from its deficit," Mr Maymat said when he interacted with some Ghanaian journalists who visited Societe Generale's headquarters in Paris, France, as part of a study trip.

He said he was convinced because Ghana had recorded sharp growth and her development programme was moving in the right direction, while it now had a mature democracy and political stability, and created an enabling environment for business.

Mr Maymat said the Ghanaian economy was more mature in the corporate business than other countries they operated in, with development of market activities, retail banking and structural financing demonstrating that the country could develop through its own efforts.

The director was happy that Ghana and France had common interests in various sectors, including improving trade and ensuring the welfare of its people.

He said his outfit was undertaking a programme known as the Promotion of African Talents, where it was identifying talents and training them to give them international exposure for them to better appreciate the organisation and be abreast of the international dynamics of banking.

Mr Maymat said his company was ensuring that it provided the African market and clients products and services of international banking standards to meet their needs.

He mentioned some of the products as salary card for collaborators or customers, purchase card, mobile payment business, Internet banking and mobile banking, as well as credit cards for high net worth clients.

The Chief Economist, Emerging Markets of Societe Generale, Mr Olivier de Boysson, said the Eurozone was gradually recovering from its financial crisis, and that would help spur emerging and frontier economies such as Ghana’s.

Societe Generale is a French multinational banking and financial services company. It has specialised services such as retail banking and specialised financial services; corporate and investment banking, and global investment

Source: graphic.com
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