Bank holds seminar for financial journalists

An official of the Ghana Commercial Bank (GCB) has appealed to media practitioners to play an active role in educating Ghanaians on the economic and financial situation of the country.

The Chief Finance Officer of GCB, Mr John Awuah, said it was important for the media to accurately report on business and financial issues to enable people make informed decisions.

He said the financial sector was experiencing major changes while new trends were emerging and these were bound to shape the financial services landscape. A statement issued by Emmanuel Kojo Kwarteng of GCB Head Office - Corporate Affairs Department and copied to the Ghana News Agency on Thursday said Mr Awuah made the appeal in Kumasi at a day’s seminar for financial journalists and reporters.

Attended by 30 journalists across the print and electronic media in the Ashanti Region, the workshop was the second in a series organised by GCB to sensitize journalists to do a thorough job in financial reporting. The first in the series of training programmes was sponsored by the Bank in May and was attended by 20 journalists in Accra.

Mr Awuah said business and financial journalists needed to enhance their understanding of the issues to better analyze and interpret current economic trends. He said the banking sector was also becoming more sophisticated as banks introduce new risk management products to help their customers’ hedge/manage risks they were exposed to in a more prudent and sustainable fashion.

“We should aim to target our financial reporting to suit the different needs of our vast audience without losing touch or misrepresenting the key elements of the issues we report on,” he said. Mr. Awuah urged the media to serve as the link in attracting export and export financing to Ghana and the West African Sub-Region through their reportage and analysis.

In performing their duty, he said, the media must endeavour to attract financing for the export sector by delving into the challenges and opportunities inherent in the sector for the benefit of the nation.

He said the country was endowed with cocoa, timber, natural and other resources, talent, rich culture and tradition, as well as a booming artisan industry in Kumasi, which makes the city the centre of trade in Ghana and for the sub-region.

“As media practitioners you are the link between export and export financing. Your discoveries and research through reports and your reportage of events can open up investment and export opportunities for this country”, Mr Awuah said.

Nana Otuo Acheampong, Banking consultant and Executive Head of the College of Banking and Management (formerly Osei Tutu Centre for Education and Research), said with the advent of internet and Information Communications Technology journalists could enhance their reportage.

He urged media practitioners to set for themselves high standards and equip themselves with the requisite skills to meet the needs of the listening and reading public.

Dr Messan Mawugbe, Chief Executive Officer of the Centre for Media Analysis, who was the resource person, called on financial journalists to make effective use of financial analysts to give greater credibility to their reports. He advised them to also generate and develop their own business stories instead of following events.

Mrs Thyra Obuobi, Head of Corporate Affairs Department of GCB, said the Bank would continue to create mutually beneficial partnerships with the media to take financial reporting to a higher level.

The Chairman of the Ashanti Regional Chapter of the Ghana Journalists Association, Mr Listowell Bucarson, urged the participants to maximize the opportunity offered by GCB.