Zenith Bank Ghana took opportunity of its 14th anniversary to entrench the leading role it has been playing in the banking landscape with carefully curated activities aimed at adding value to society as well to the Bank.
As one of the most decorated Banks by
way of industry awards as well as a very strong financial performance, the Bank
embarked on a number of activities to positively impact the key stakeholders
that have contributed to its growth over the years.
September 2005, Zenith Bank, made an entry into the Ghanaian banking landscape.
The Bank had in mind the objective to be a leader in the delivery of banking
excellence built on technology to serve dynamic customers’ needs.
Zenith Bank Ghana has emerged the
second most credible bank in Ghana, according to Credmap Technology Ghana
Banking Credibility Index. The inaugural “credibility-rating” engine is capable
of combining crowd-rating and data mining to generate “credibility scores” of
individuals and institutions using pooled data about their track record, history,
commentary, biography, popular sentiment and reputation.
Thanks to impressive GDP
growth and a successful recapitalisation drive by the central bank, Ghana is
now poised for a banking revolution
Author: Henry Oroh,
Managing Director/CEO, Zenith Bank (Ghana)
At Zenith Bank,
our outlook for the Ghanaian economy is largely optimistic. According to IMF’s
latest growth projections, the country is expected to become the
fastest-growing economy in sub-Saharan Africa in 2019, with a GDP growth rate
of 8.8 percent. In light of this positive view, the government’s 2019 budget
aims to reach an inflation rate of eight percent by the end of the fiscal year.
This looks feasible, even though inflation currently stands at 9.5 percent,
according to a Bank of Ghana Monetary Policy Committee press release from May
The Board of Directors of Zenith Bank Plc has approved the appointment of Mr. Henry Oroh as Executive Director of the bank. The appointment is consistent with the bank’s tradition and succession strategy of grooming leaders from within.
Staff of Zenith Bank have
raised funds totalling Thirty Four Thousand Ghana Cedis (GHS34,000.00) to
support two year old Mabel Adjoa
Koomson, who has been diagnosed with Atrioventricular Septal Defect.
The defect causes holes between
the chambers of the right and left sides of the heart and poor formation of the
valves that control the flow of blood between the chambers.
Doctors recommended a surgical
operation in India to save Mabel’s life. Her parents however were unable to raise the
total cost of funds needed for the operation.
Staff of the Bank, on hearing
Mabel’s plight, rallied together and raised funds to enable Mabel undergo the
Chidinma Braye-Yankee, Head of
Corporate Affairs and Service Delivery at Zenith Bank expressed appreciation to
Management and staff of the Bank for their generousity and swift responsiveness
to save the life of Mabel. She added that their gesture was a true reflection
of Management and staff’s commitment to their corporate social responsibility
of giving back to the society in which the Bank operates.
Accepting the funds at a short ceremony
at the Bank’s Graphic Road branch, Mabel’s mother, Madam Rebecca Mills, said
she was surprised when she received a call informing her of the gesture
undertaken by the Bank’s staff. “For two years I have been moving from place to
place in search of financial assistance. I managed to raise some funds but
faced great difficulty in raising the total sum required for the surgery. One
day I came to the Graphic Road branch of Zenith Bank with my daughter Mabel to
effect a transaction and the staff immediately noticed something was wrong and
enquired about it. I told them about her
condition and within a short period, God through the entire staff of Zenith
Bank answered my prayers.”
Madam Mills expressed her
immense gratitude to management and staff for their act of kindness.
Ghana’s banking industry is a fiercely competitive one.
Banks continuously try to out-do one another in the delivery of bespoke
services built on technology. Zenith Bank, despite being an integral member of
the industry, appears to lead the pack by a mile and there are reasons to prove
The award-winning Bank continues to blaze the trail;
receiving more recognitions for its mastery of the art of banking.
Zenith Bank (Ghana) Limited, on Friday May 24, 2019, in partnership with Firmus Advisory Limited, organised the maiden edition of the Zenith SMEs/Corporates Breakfast Forum, as part of the Bank’s compliance series. The forum focused on tax compliance for successful business operations and it was under the theme, ‘Empowering the Private Sector to Maximize Revenue through Compliance with Ghana’s Tax Reforms’. The Forum which was very well attended was held at the Kempinski Gold Coast Hotel and brought together the leadership of the Bank, representatives of the Ghana Revenue Authority, Ghana Investment Promotion Centre, Ghana Free Zones Board as well as valued SMEs and Corporate customers of the Bank.
The Managing Director of Zenith Bank, Mr. Henry Oroh, in his opening remarks stated that, the initiative was underpinned by the Bank’s mission “to continue to invest in the best people, technology and environment to underscore its commitment to achieving customer enthusiasm”. To this end the Forum congregated the private sector for an informative session on Ghana’s tax reforms, the impact of the reforms, and the implementation of these reforms in their business operations.
Mr. Oroh added that it was also to support government’s initiatives at ensuring tax compliance across the length and breadth of corporate Ghana and to complement government’s effort to strengthen and enforce compliance in the country in 2019 and beyond. The MD/CEO stated that the Forum speaks to the foundational principles of the Zenith brand and its operations. “Zenith is one Bank that has built a reputable brand noted for its excellent compliance regime and corporate governance culture. Therefore, it is part of our strategic direction to initiate customer engagement programs such as this to promote the replication of that same corporate governance culture and compliance regime in SMEs and corporate businesses across the country”.
The MD reiterated the Bank’s firm commitment to supporting the growth of businesses and its contribution to the expansion of Ghana’s economy in general. He also commended the Ghana Revenue Authority for responding strongly over the last two years in the area of driving tax compliance and education in the country.
Special Guest of Honour for the event, the Commissioner-General of the GRA, Mr.
Kofi Nti, commended Zenith Bank for the laudable initiative and emphasised the
need for SMEs and businesses to complement government’s effort in tax revenue
mobilization. He revealed plans to introduce an e-payment platform that will
allow tax payers in the informal sector to pay their taxes easily and
conveniently. The platform, he said, is
also expected to enable small scale tax payers, who dominate in the small and
medium enterprise sector, to pay their taxes through mobile money platforms.
Mr. Nti said the Authority was currently implementing initiatives and reforms aimed at improving revenue mobilisation, economic growth and accelerated development. He said all those reforms were to boost tax administration in the country and expressed the hope that the private sector would embrace the reforms to improve on compliance level, which would ultimately improve revenue mobilisation. The Commissioner-General said the Authority would also be establishing business support units at all their GRA offices to support businesses to grow and keep their tax obligations in terms of filing tax returns. He assured invited guests that : the GRA does not in any way support the collapse of businesses but rather we help your businesses to grow and expand.” He said the authority would do all it could within its powers to ensure that every Ghanaian got fair treatment.
Integrated tax application systems The Commissioner said GRA would also introduce the Integrated Tax Application Systems, an electronic filing system, to enable taxpayers file their personal income tax and returns online in the comfort of their rooms and offices with other modules soon to be inputted. He encouraged the public to insist on not buying products that had no excise tax stamp on them. “If the product has the stamp, it means the company has been approved by the Food and Drugs Authority and the Ghana Standards Authority,” he said. He said GRA was not only interested in looking for revenue but also wanted to help the public consume healthy products.
Through the Forum, Zenith Bank has once again reaffirmed its support for the private sector and the growth of Ghana’s economy.