Board Chairman of Fidelity Bank, William Panford Bray has said for Ghana to sustain its middle income status, there is the need for banks and other financial institutions to deepen the savings culture of the people.

?Sustaining middle income status is a function of the level of savings, investment and employment within the economy,? he said.

Speaking at the official launch of Fidelity Bank?s ?Big Fat Zero? promotion in Accra on Wednesday, Mr. Bray said only 33.9 per cent of the adult population are banked and it is an indication of a lower savings culture.

?As a result of the fragile global economy and its impact on the domestic market, the government, since the beginning of the year, has been pursuing economic policies to maintain and improve the middle income status of Ghana.?

He said, ?This makes high saving culture, access to low cost funding for business investments and increased employment the essential elements of growth.?

Mr. Bray said many businesses in the country ?may not be birthed? because of the lack of capital, adding that ?many people are deprived of access to good quality education due to financial constraints of their parents and such people become disadvantaged in the job market.

?As a truly indigenous bank, with a national development agenda, Fidelity Bank is committed to building a showpiece of banking excellence, a legacy of Ghanaian entrepreneurship and a business with national relevance. As such we are launching this campaign to inculcate in Ghanaians, a savings culture.

?We recognize that it is essential that we empower our existing and potential customers not only to pursue their dream and aspirations, but also to have the financial means to cater for the basic necessities of life.?

He said the only way the bank could perform creditably was to provide what he called ?exceptional? customer service for everybody, adding, ?Service to customers is something we can never run away from. Competition in the industry is keen and we should continue to give first-class service.?

By William Yaw Owusu


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