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Zenith Bank Ghana Celebrates 14th Anniversary

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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.

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Zenith Bank listed amongst top 3 most credible Banks in Ghana

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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.

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Ghana is sub-Saharan Africa’s land of banking opportunity

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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)


Financial inclusion through the use of digital banking products is a major part of Zenith Bank’s growth strategy. It was one of the first banks in Ghana to launch an app-based mobile banking service 

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 2019.

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ZENITH BANK SUPPORTS 2 YEAR OLD MABEL ADJOA KOOMSON

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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 surgery.

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.

Zenith Bank’s unparalleled banking excellence

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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 this.

The award-winning Bank continues to blaze the trail; receiving more recognitions for its mastery of the art of banking.

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Zenith Bank Organises Maiden Edition of the Zenith SMEs/Corporates Breakfast Forum

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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.
 

The 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.