Be Ethical in Your Dealings ― Barclay MD to Banks

Managing Director of Barclays Bank Ghana, Mrs. Abena Osei-Poku has charged various players in the banking sector to follow ethical standards in order to avoid backlashes in future.

Speaking at the opening of the 2018 Ghana Economic Forum (GEF), she said, it did not matter the challenging cycles the sector goes through, “the most important thing is, in and out of cycles, bankers need to adhere to the best risk management principles, robust corporate governance and ethical behaviour.”

According to her, in the bid “to do more, to pursue over ambitious growth when economies are booming,” players have been negligent when it comes to risk management.

“We must learn the lessons and guard against this going forward,” Mrs. Osei-Poku advised.

She further encouraged the banking sector to innovate and offer financial solutions that respond to the changing nature of the economy.

“Bankers and financial market players must also innovate and offer financial solutions that respond to the cyclical nature of the economy” she said.

The Barclays Bank MD expressed concerns about the growing rate of employment and underemployment of young people in Ghana and called for reforms that would bring a lasting solution to the challenge.

“It is my hope that our deliberations over the next two days will result in novel ideas to create employment opportunities and address other key national and global issues.

“We need tech that puts young people to work―not only tech that eliminates existing jobs but tech that fights employment,” Mrs. Osei-Poku stated.

This call comes after reports of some 5,750 Ghanaian workers being sacked from their places of work all in one week― adding to the swamping number of the unemployed in the country.

But Senior Minister, Mr. Osafo Maafo says Ghana is grappling with the unemployment situation because, Ghana as a country has encountered stunted growth in years.

“It is only by growing that we can solve the unemployment problem…our number problem today is unemployment and not until we are able to keep growth at certain speed and at certain sectors, a growth that is inclusive, we will still have issues,” he said.

By: Grace Ablewor Sogbey/ [email protected]