Ghana’s Construction Bank to grow using high end innovation and tech

By Nana Appiah Acquaye, Accra, Ghana

Ghana’s newly-opened Construction Bank, with a prime focus on construction and infrastructure development, says it intends to invest in high end innovations and technology to secure phenomenal growth in the fiercely competitive banking industry in Ghana.

The Board Chairman of the newly inaugurated Construction Bank, Asare Akufo, in an interview with Biztechafrica in Accra after the grand opening of the bank at the luxurious Octagon building, said the key pillars upon which the bank will drive its vision are expertise, technology, innovation and a new sky line.

Mr. Akufo stressed that the driving force behind bank’s vision is anchored on values of open mindedness, boldness, and visionary leadership.

“These are the principles that will inform the decisions we take and how we collaborate with our clients to contribute our quota to Ghana’s changing business landscape and skyline. Our vision is clearly to be the bank of choice for construction and infrastructure development financing with our name synonymous with innovation, technology, quality customer care and affordability,” he said.

He noted that the examples of successful economies in the world over the past half century indicates that Ghana is in the process of experiencing tremendous growth in commercial and residential real estate, infrastructure, and related industries hence the need for financial products and services that will help nurture and sustain those sectors of which Construction Bank will be the preferred partner that will provide that needed support.

Construction Bank, which is the 44th bank to be licensed by the Bank of Ghana, has positioned itself in the country’s banking sector as the bank of choice for construction and infrastructure development financing.

In his remarks at the event the Vice President of Ghana, Dr. Mahamudu Bawumia, revealed his government intention of assisting the country’s banking sector and the Ghanaian economy as a whole with the introduction of three strategic and innovative projects. He mentioned the National ID system, a national digital addressing system and a robust interoperable payment system as projects that would be deployed by the end of this year.

The Vice President believes that interoperable payment system will provide a seamless payment platform between the telcos, banks and other players.

“We will do our part as government, and we will in return hold you to your promises the same way as you hold us to ours and together can create partnerships that will see this country work once again,” he stated.

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