The new partnership agreement between Stanbic Bank Ghana and the Ghana Private Road Transport Union (GPRTU), under which the bank has set up a $50million fund to assist members of the union to purchase vehicles is laudable.
The influx of banks into the country because of the excellent performance of the national economy is not only assisting to solve the unemployment problem in the country, but is as well bringing a variety of opportunities to the doorsteps of Ghanaians.
Some banks perceived as giant ones are now sending their officials to offices to coax employees into opening accounts with them. Others have also started opening “Zero Accounts” for customers, while the rest have slashed the amount for opening accounts by half.
This is the essence of competition. The proliferation of banks would definitely bring more golden opportunities to Ghanaians. All that the people need to do is to know how to position themselves and take advantage of those opportunities.
The GPTRU, apart from rendering a very important service, is one of the 17 well-managed unions of the Trades Union Congress in the country. Such assistance to it, therefore, would make its members improve on their performances.
This is not the first time the union is being assisted to purchase vehicles. It has been done before and there was no problem over re-payment.
However that era is gone. We hope the present generation of leaders would emulate the example of their predecessors or even do better.
There is no doubt that the majority of union members are in Accra and Kumasi but there are many more drivers in other parts of the country who are also rendering equally important services.
When it comes to sharing those vehicles the leaders must not relegate the rural drivers to the background since equitable distribution would make the bank achieve its aim and be encouraged to increase the amount in future.
The partnership agreement would not be complete if the distribution of the vehicles is not done fairly and is centred in Accra, Kumasi and Sekondi-Takoradi.
The bank's decision to provide banking facilities at GPRTU lorry stations to enable passengers deposit their monies and subsequently withdraw them at their destinations would be a service that has never been enjoyed in our part of the world.
This would go a long way to help reduce armed robbery on the highways as robbers would not have anything to take from travellers.
The leadership of the union should make sure that members who benefit from the partnership repay their loans promptly so other drivers could also benefit from the facility.
We suggest to other banking institutions to emulate the good example of Stanbic Bank and assist other professionals to improve upon their performances.
DAILY GUIDE congratulates Stanbic Bank on its initiative and urges GPRTU to put measures in place to ensure equitable distribution and prompt payment for the vehicles.