Business News Thu, 21 Jun 2007

Students' discounts card launched

Accra, June 21, GNA - The Guarantee Trust Bank (GT) and the National Union of Ghana Students (NUGS) on Wednesday launched a Student Discount Card that will enable holders to purchase items from selected outlets and make significant savings on each item.

Known as the "Student Card" the product would be rolled out this July for students aged 16 and above from accredited institutions. Speaking at a press briefing to outdoor the card, Mr Stephen Baidoo of KSB Project Management, the technology backbone of the scheme, described the card as a "must have" for all students above the age of 16 given the features and benefits that it afforded the holder. He noted that the card was expected to have a subscriber base of 20,000 within the pilot year and increase rapidly thereafter. Current partners on the discount programme are Papaye, Koala and Bus Stop, with an ultimate aim of encouraging other shopping outlets and convenient shops to sign on.

Mr William Yamoah, NUGS President, thanked Guaranty Trust Bank and KSB Project Management Consultants for supporting a worthy cause which would go a long way to make the lives of students less cumbersome and lessen their financial burden.

He explained that as a student himself in the United Kingdom, a similar student card made a significant impact in creating not only savings on purchases, but a savings culture itself. Mr Andrew Takyi-Appiah, Head of Retail Banking for the Guaranty Trust Bank, said the Bank was delighted to partner others to help provide a service that would help mitigate the enormous financial challenges faced by students in Ghana.

The card, he noted, had fantastic features which all students should have access to within the shortest possible time. "Our Card is a VISA Electron enabled discount card designed to give students the added convenience of further price discount at participating retail outlets," he explained.


The card comes with multi features such as Free SMS banking, online banking, e-transaction notification service and a 50 per cent discount on all bank draft for school fees payment.

Students would also be automatically signed onto a high interest bearing savings account on application.

He said GT Bank believed strongly in adding value to their customers and promised that the Student Card was the beginning of many products and collaborations that were expected to come the way of students.

Mr Takyi-Appiah said parents in Accra with wards in Kumasi would send money to them by just paying money onto their card at any GT Bank Branch and the students would immediately have access to the funds at ATM machines nationwide. Students interviewed after the press briefing applauded the introduction of the card and called on all the partners to fast-track their efforts.

Source: GNA