ECOBANK launches Direct Sales Programme

Accra, June 8, GNA - ECOBANK Ghana Limited has introduced a new product known as the Direct Sales Programme aimed at eliminating the pain associated with banking hall operations.

The programme to be undertaken by Direct Sales Agents would have the objective of bringing banking to the doorsteps of individuals, while making banking convenient and accessible to customers. According to Mr Samuel Ashitey Adjei, Managing Director of ECOBANK Ghana, the move would deepen the culture of savings and bring more people into the formal banking fold.

The Bank, which received a retail licence recently, said it was committed to excellent customer service and building professional and long-term banking relationships.

He told GNA on Thursday that the DSA Programme would enable ECOBANK's trained sales agents to make available products to the general public at their points of work and assist them to choose suitable products from the Bank.

"It allows individuals to enter the Bank's suite regardless of income levels."

Launching the product, Mr Van Lare Dosoo, Deputy Governor of the Bank of Ghana (BoG), said the Central Bank was happy that customer financial education was forming a critical mass of the operations of banks and ECOBANK was leading the way.

"This is the way we need to go as a nation to position the financial sector to serve as a catalyst in our quest to promote accelerated growth and poverty reduction," he said. "It is our hope that the DSA strategy has the potential of reaching beyond the current traditional banking horizon to enhance public confidence in the banking system."

Mr Dosoo said the BoG encouraged banks to engineer new products to fall in line with the new paradigm shift, which if combined effectively, could promote financial access and finance inclusiveness for growth. He said the Central Bank was waiting to see a change in focus by the banks by developing financial products that were made to meet the felt needs of the customers and which were affordable.

"In particular, we encourage the banks to develop products to target sectors such as the real estates, mortgages and equipment financing."

He said these medium-to-long-term products anchored on low inflationary expectations were expected to come with affordable prices, a key to speedy growth and development.

Mr Albert Essien, Regional Director of ECOBANK West African Monetary Zone, described the launch as a significant milestone in banking, which made banking convenient, accessible and reliable. He said the Bank intended to expand its network and simplify operational procedures to enhance service delivery. The product is being rolled out in all ECOBANK affiliates in West and Central Africa.