13.07.2006 Business & Finance

Rural Banks Received Low Media Coverage - Survey

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The rural banking sector received very little media coverage between January 2005 and December 2005, a media survey has revealed.

It said among other entities in the business sector, performance of rural banks in the country were less reported on compared to others such insurance, banking, mining, tourism and aviation.

The survey, which was conducted by the Centre for Media Analysis, was meant to induce discussions that would promote the standard of journalism as well as provide relevant database for stakeholders in communication management process.

At a press conference to present findings of the survey, Dr Messan Mawugbe, Chief Executive Director of the Centre for Media Analysis, said although rural banks performed very well during that period, only 23 out of 1,122 new stories were published on their performance.

"Amazingly, the rural banking sector was totally ignored, which I think is not so good as far as banking is concerned."

He said media reportage on the Ghana Stock Exchange (GSE) was not encouraging considering the fact that such reports were needed for viable investment decision-making.

Prof. Mawugbe said news stories on listed companies on the GSE were not in-depth since most reports indicated that accounts of such companies were not audited.

"When you report that a company is doing well without indicating its audited account then the report is not complete, because the public need the audited account to determine whether those companies are really doing well."

He called for collaborative efforts of reporters and editors to ensure that media reporting was objective and positive in order to attract potential investors.
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