Business

Zenith Bank launches campaign to promote cash-lite economy

pZenith Bank Ghana has launched its ‘Go Lite with Zenith Bank’ campaign to enhance a safer and convenient banking environment for customers.

The campaign is also aimed at raising awareness on the bank’s digital products and services to promote government’s agenda of a cash-lite economy.

 At the launch in Accra, the Managing Director and Chief Executive Officer of the bank, Mr Henry Oroh said traditional  methods of handling  money was becoming less attractive as  the world was gradually  becoming a digital space.

He said his outfit had therefore, adopted digital solutions in the Ghanaian market with products that were constantly evolving to meet the dynamic needs of customers.

 According to Mr. Oroh, the spread of digital transactions could also increase the effectiveness of the government in the control of crime and corruption.

 He explained that the prevalence of cash was as much a problem for law enforcement as criminals could operate much more easily in cash-based economy.

He said digitising transactions would make it difficult for criminal activities to thrive and allow for easy detection of such acts.

 Mr Oroh opined that government stood the chance of gaining substantially from a cheap and transparent electronic payment with adequate traceability of payments at it was the largest micropayer of salaries and pensions.

He said with an un-banked ratio of approximately 70 per cent, there was the need to serve the growing market with products and services which was attractive to them hence the introduction of the campaign to encourage the public to move to the cash-lite mode of transacting businesses.

Mr Oroh  stated that his outfit had partnered with  Mobile  Network Operators (MNO’s) to offer  customers  a  seamless mobile money  Bank2wallet  experience across  various  electronic channels such as  internet banking,  ZmobileApp, and Global web.

 He  said  with  businesses  moving towards  a  cashless environment, the initiative  by Zenith Bank would enable   customers  to initiate and control all payments electronically to reduce the  risk of fraud and theft which entrepreneurs were exposed to. 

The Director of Payment Systems at the Bank of Ghana (BoG), Dr. Settor Amediku urged Zenith Bank to ensure their products and services were known to the Ghanaians.

 He said it was time services and products of banks were made visible to customers as well as prospective customers through intentional educations and campaigns.

 He said the Bank of Ghana had approved about 40 products and services but the major concern of BoG was whether these products were known to Ghanaians.

 Mr Amediku said his outfit was hoping to introduce a financial week where banks and other financial services would have the opportunity to showcase their products and services to their customers.

BY JEMIMA ESINAM KUATSINU

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