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12.02.2009 Business & Finance

Asantehene urges financial institutions to educate Ghanaians on need for savings

By gna
Asantehene urges financial institutions to educate Ghanaians on need for savings
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Otumfuo Osei Tutu II, Asantehene, has called on financial institutions to strategise and pursue vigorous campaign in sensitising Ghanaians on the need to save their monies at the bank.

He said “a lot of money is still being kept at home by majority of the citizenry due to ignorance about the advantages of saving with the banks.”

Otumfuo Osei Tutu made the call when Mr Heman Shah, Chief Executive Officer and some officials of Standard Chartered Bank, Ghana, paid a courtesy call on him at Manhyia Palace in Kumasi.

They presented 100 dual desks to the Asantehene for distribution to basic schools including Adawomase Anglican Basic School, St. Peters Catholic Basic School, Ashtown MA Basic School and Afua Kobi Serwaa Ampem Basic School.

Otumfuo Osei Tutu said, it was high time petty traders, fishermen and farmers were mobilised to save their earnings with the banks since cash flow at the bank was important for national economic development.

He noted that the bank had been a close ally of Manhyia Palace in the execution of development projects in the last 10 years and urged them to work hard to sustain the friendship.

The Asantehene said, government and the private sector had the responsibility to create jobs for the youth who graduated from school, and the banks had to offer loans to the private sector to create jobs and assist in training the youth to become good entrepreneurs to utilise loans properly.

Mr Shah said the bank with its strong performance, still emerged strong during the financial crisis that had sent many economic giants sprawling, stressing that the bank was determined to become the best in Ghana in terms of dealing with customers.

He said management had therefore evolved many innovative products and services for the benefit of its customers and the nation.