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18.10.2007 Business & Finance

Stanbic, GPRTU On Road Safety Partnership

STANBIC Bank Limited is to open banking facilities at the Ghana Private Road Transport Union lorry parks to enable passengers travelling long journeys to deposit their monies and withdraw them when they get to their destinations.

The objective of this measure is to reduce the incidence of armed robbery on the highways which is gradually crippling the fortunes of traders and other market women.

The bank plans to use a mix of facilities and services such as agencies, fully-fledged branches and automated teller machines (ATMs) to offer either full or partial banking services to particularly the travelling public.

The Head of Marketing and Public Affairs of the bank, Mr Mawuko Afadzinu, told the Daily Graphic that Stanbic Bank had entered into a partnership with the GPRTU to add comfort and security to commercial road travel in the country.

The partnership, which he said would be formalised at a ceremony today, was geared at ensuring progress in the transport sector for national development.

He said the innovation would ensure that the passengers travelled safely with their capital intact.

“As Stanbic Bank continues to offer relevant and creative banking solutions to the citizenry, the GPRTU, which controlls about 80 per cent of the commercial transport sector, is a great channel to reach the unbanked in the country,” Mr Afadzinu said.

He said Stanbic Bank would establish a revolving fund to support the GPRTU to purchase new buses and various vehicles with the aim of reducing road accidents and improving comfort on the buses.

In addition, rest stops, filling stations, mandatory vehicle check spots for drivers and passengers as well as other facilities all aimed at making travelling safe and comfortable would be pioneered by the bank.

Under the deal, Stanbic Bank would have the opportunity to brand the various lorry parks and the buses it would support the union to purchase with its logos and banking paraphernalia.

From The Business Desk