GCB Bank PLC, the country’s premier financial institution, has reiterated plans to achieve continental status within the next decade in order – enabling more domestic businesses to penetrate the Africa Continental Free Trade Area (AfCFTA) market.
The expansion is underscored by its resilience and growth over the past 70 years, Managing Director Kofi Adomakoh said at the bank’s Platinum Anniversary Gala and Awards Night held in Accra. He said the lender aims to elevate its operations to the level of a continental bank with branches in key markets of the sub-region.
This, he believes, is achievable with further investment in cutting-edge technology and digital solutions to expand its reach and provide seamless banking services to its customers.
GCB Bank plans to leverage its robust financial position, extensive branch network and skilled workforce to drive growth domestically and beyond, he said. The bank also aims to deepen its financial inclusion initiatives and support economic development in the countries where it operates
He added that the bank’s 70-year journey has been a story of resilience, relevance, resourcefulness and impeccable results, which has positioned the brand in a position that enables it to conquer the continent.
“GCB must once again transcend the borders of Ghana and follow the brain-prints of its customers into regional and continental markets serving our corporate and commercial clients. We will compete at all levels of banking and win in all our chosen markets, because we are authentically Ghanaian and understand our people’s needs best.
“We are a regional bank driven by technology enabling its millions of customers to transact and make payments, investments and savings from their mobile phones and electronic devices; a bank serving the remotest villages in Saboba and Nkwanta and also big cities of Accra, Kumasi and Takoradi, while preserving livelihoods and micro-businesses through technology and connecting them with other counterparties in Lagos, Johannesburg, Nairobi and Cairo,” Adomakoh said.
He stressed the bank is ready to take advantage of the AfCFTA, and ensure that through GCB local businesses do not miss out on the 1.5 billion people single market.
70-years, Footprints and Future
The MD mentioned that GCB was born as a Ghanaian bank for the people, and led by Ghanaians with the single-minded purpose of economically and financially liberating citizens and individual businesses. In the last seven decades GCB has done just that, and is seeking to show more of this resilience in its ability to grow African champions in the country by supporting Ghanaian businesses to explore beyond the nation’s shores.
“Over the years, we have also strategically increased our investment in the retail business, in tandem with the growth of individuals’ disposable income. Few countries have sustained development solely on the back of foreign capital, but many countries have developed on the back of domestic, internally generated capital driven by a very strong banking sector led by indigenous banks. Nigeria, South Africa, Kenya and Egypt all have capital in the hands of indigenous banks, and they will drive their economies to sustainable growth. We as local banks will ensure the same and develop local African champions where it matters most to take advantage of the single African market under the AfCFTA,” he added.
The bank presented about 21 different awards to deserving personalities who have served the brand in different ways and contributed to its 70-year success story.
Dignitaries present included President Nana Addo; Bank of Ghana Governor, Ernest Addison; First Lady Rebecca Akuffo; and 2nd Deputy Governor Bank of Ghana, Elsie Addo Awadzi, among others.
