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Ghana: Bank of Africa to Open Fifteen More Branches
Source: Source: GNA
Source Date: Wednesday, May 22, 2013
Focus: Knowledge Management in Government
Country: Ghana
Created: May 22, 2013

Mr Andah was speaking at the launch of five innovative banking products targeted at employees in the public and private sector as well as small scale business owners.
The products are Public Sector Pack, Employee Pack, Ambitious Savings Plan, Education Loan and My Business Pack.
Mr Andah said Bank of Africa Ghana as a regional bank has a vast experience in delivering financial services in Africa and Europe where it has branches in 14 African countries and one in Europe.
“The strong heritage in Africa gives the Bank time tested insights for product development. Our products have performed creditably throughout the years,” he said, adding that the products launched have been successful in several countries on the continent.
Mr Andah said the bank would continue to identify the needs of customers, research solutions capable of delivering value and introduce practical product propositions that deliver convenience.
Mr Allen Quaye, Head-Sales Coordination, said each product was designed to support lifestyle, meet emergencies, provide convenience and make banking affordable.
The packs also provide the holder a range of products and services for a flat monthly fee.
The Public Service pack, he said, is targeted at employees working in the public and civil service to enable them meet specific needs. Benefits include a current account, saving account, no cost on transactions, among others for a flat monthly fee.
Other benefits include overdraft of up to 50 per cent of salary and a month automatic net salary in the form a loan repayable in 10 months.
Mr Quaye said the Ambitious Savings Plan allows holders to make regular savings to build up funds to deliver own projects. It allows the account holder to borrow up to twice the amount saved after 12 months.
He said the educational loan offers salaried workers the opportunity to upgrade themselves while the My Business Pack is to address the needs of small shop owners working in the informal sector by bringing them into mainstream banking.
Mr Allen said the innovative products would impact on the way retail banking was being done in the country.
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