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Cedi Rebound Will Help Banking Sector
 
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21-Jul-2015  
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The Executive Director of uniBank Ghana Limited, Mr Owusu Ansah, is optimistic that growth in the banking sector will soon pick up following the successful rebound of the cedi which rose from GH¢4.4 a dollar in late June this year to GH¢ 3.3 on July 14, 2015.

“The thriving of the banking sector depends on the free flow of businesses and so if the cedi has gained some strength against the dollar, we are optimistic that the culture of savings will increase,” Mr Ansah said at the official launch of the “Supper 360 Promo” in Accra.

He said the depreciation of the local currency against the major foreign currencies brought difficulties to businesses and drastically reduced economic activities for the players of the banking sector.

Cedi gained strength

The cedi has shed more than 22 per cent in value against the dollar this year and was trading at GH¢4.40 to the dollar on June 22, when the depreciated peaked.

However, figures from the Ghana Association of Bankers show that a dollar which went for GH¢4.32 at the end of June this year has fallen to GH¢3.31 as at July 15.

The Euro has also dropped from GH¢4.84 on June 30 to GH¢3.64 as at July 15 this year while the Great British Pound has dropped from GH¢6.77 on June 30 to GH¢5.16 as of July 15.

Going forward, Mr Ansah said he was optimistic the cedi would gain more strength if the central bank continued with the daily supply of US$ 20 million.

Super 360 promo

uniBank Ghana Limited officially launched the "Super 360" promotion in a bid to show appreciation to its cherished and loyal customers across the country.
In order to increase the chances of customers with branches outside Accra, the promotion will feature two mini-draws on a zonal basis and a final draw.

The ultimate winner will take home GH¢360,000, while the winner of the first mini draw will win GH¢10,000. The winners of the second and the third mini draw will take home GH¢15,000 each.

Other winners will take 50 consolation prizes that include solar panels, solar powered inverter systems, refrigerators, washing machines, Airtel airtime and data worth GH¢5,640, and smart phones.

The promotion, which is supervised by the National Lotteries Authority, will run from July 14 to October 14, this year, after which the ultimate draw will be held.

Eligibility

Addressing the launching ceremony, the Director in charge of E-banking, Product and Marketing of the bank, Mr Clifford Duke Mettle, said existing and new customers were eligible to participate in the promotion.

He said the bank had been a vanguard in the delivery of excellent customer care and would continue to satisfy the banking and financial needs of its customers.

 
 
 
Source: Daily Graphic
 
 

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