The *901# service, which was launched a few weeks ago, enables customers to conduct basic transactions such as opening a new account, buying airtime, paying bills and transferring money using their mobile devices, without the use of an internet data.

More than 500 loyal customers who have performed transactions on the platform have so far been rewarded with prizes including mobile phones, airtime and shopping vouchers.

Two of the top winners, Miriam Adom Danquah of Adum branch and Obed Nii Adjei Banfro of the Castle Road branch in Accra, shared their excitement in winning from the *901* campaign. “When I signed onto the *901# service, I didn’t expect to receive any reward. All I wanted to do was to be able to perform some of my banking transactions without coming to the banking hall. I am grateful to Access Bank and I urge them to continue being an awesome bank that grows with technology” – Miriam shared.

According to the Divisional Head of Retail Banking, Mr. Stephen Abban “we are excited to have rewarded our first batch winners in the *901# campaign. Financial inclusion is at the heart of Access Bank’s retail strategy and so we have made it our responsibility to give customers convenient access to banking transactions. We are looking forward to rewarding over 1,000 customers during the campaign period and also get more customers to utilize our digital banking products”.

“Congratulations to all the first 500 winners and we hope to continue our lasting relationships with them”, he concluded.

The *901# campaign is running till the end of June 2017. Customers stand a chance of winning smartphones, gift vouchers, and free airtime when they perform at least two transactions on the platform or refer at least 5 other people to sign onto the *901# service.

With the *901# mobile banking service, customers can transfer money, buy airtime, check account balances, pay bills, transfer funds between their accounts and to third party banks, as well as conduct mobile money transfers. Other functions include making enquiries for branch and ATM locations and making transfers onto mobile money wallets.

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Credit: Access Bank

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The presentation, which is in response to calls by the President – H.E Nana Addo Danquah Akuffo Addo, for the private sector to support activities to commemorate the sixtieth anniversary, also provides an opportunity for the Bank to contribute its quota to national development.

The donation is expected to support key landmark projects that have been earmarked to commemorate the anniversary celebrations throughout this year.

Receiving the donation on behalf of the committee, the Chairman, Mr. Ken Amankwah thanked Access Bank for the kind gesture and assured the team of prudent utilization of the funds provided.

Leading the Access Bank team to present the cheque, Group Head for Personal Banking, Mr. Stephen Abban indicated the Bank’s readiness to support Ghana’s socio-economic growth.

He added, “The banking sector plays a critical role in supporting the financial aspirations of the over 28 million Ghanaians and as one of the key players in this industry, Access Bank is using this historical period to reinforce its commitment to Ghana’s economic growth through social investments”.

Giving meaning to this promise, the Bank in December 2016 became the first Ghanaian bank of Nigerian origin to list on the Ghana Stock Exchange (GSE) after successfully completing its Initial Public Offer.

In a related development, Access Bank lent its support to the Air Force Base in Accra to host over 3,000 children from different parts of the country on Tuesday 7^th March during an “Open Day” session at the Base. The hallmark event which occurs annually, involves a guided tour of the military base at Burma Camp and an aerial tour by helicopter in the city. Children who were part of the Open day, benefited from financial literacy discussions and had the opportunity to engage first hand with some of the Bank’s staff

Acknowledged for its catalyst role for socio-economic development across the African continent, Access Bank continues to demonstrate its commitment to responsible business practice through initiatives and programmes that focus on education, health, sports, arts & culture and the environment.

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Source: Access Bank

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The launch follows approval from the Securities and Exchange Commission (SEC) and the  Ghana  Stock  Exchange (GSE)  to  undertake   an   Initial   Public   Offering   and subsequently list on the Ghana Stock Exchange.

Access Bank hopes to raise a minimum amount of GHs104 million to support its growth and expansion  strategies  when  the  offer  opens  from  19th  October to 11th  November,2016.

Prospective investors are required to purchase a minimum of one hundred shares at GHC4.00 per share.

Launching the IPO, the Managing Director of Access Bank Ghana, Mr. Dolapo Ogundimu said, “there is the need to grow capacity to take advantage of the opportunities that have emerged from running successful operations in Ghana so far.”

“In addition, we are seeking  to   expand  our  operations by   making  new  investments  in  branch  expansion,robust technology and other infrastructure which will enable us fulfil our commitment to deliver superior banking services to our valued customers and stakeholders”.

Mr. Ogundimu  stated   that Access  Bank  has strengthened  its  resolve  to build  a  truly sustainable   bank   that   offers   superior   value   to   shareholders,   customers   and   the communities  it  serves and that  it’s positive growth  trajectory and  consistent financial performance   over   the   past   seven   years   provides   adequate   basis   for   prospective investors to buy shares in the Bank.

He   named  African   Alliance   Securities   and   Chapel   Hill   Denham   Securities   as   Lead Managers and Sponsoring brokers for the IPO.

Commenting   on   this   milestone,   the   Chairman   of   the   Board   of   Directors,   Mr.  Frank Beecham expressed optimism about the exercise and belief of the Bank in the potential of Ghana’s economy.

He noted: “Access Bank is here to stay for the long haul and we encourage both private and institutional investors to participate in this offer and own apart of one of the fastest growing banks in Ghana”

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By: citifmonline.com/Ghana

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Information available to Citi Business News indicates that the bank is likely to complete its process by the end of this year after revising its issuing calendar with the industry regulator.

The Securities and Exchange Commission (SEC), intensified its appeal for multinationals to list on the local bourse after Nigeria’s Legislature passed a law to make it compulsory for multinationals to list on the country’s stock market.

According to the Director General of SEC, Dr. Adu Anane Antwi, the coming onboard of multinationals like Access Bank will promote local participation and stabilize the country’s currency.

“The advocacy continues and we believe that we will get some of the companies responding positively. For example Access bank which is a Nigerian owned bank is preparing to float parts of its shares and list on the Ghana Stock Exchange…We are hoping that other companies will heed to the appeal and do same,” Dr. Anane Antwi opined.

Currently, the stock market comprises 42 companies including multinationals like Tullow Oil Plc and Standard Chartered Bank.

Access bank’s moves when successful will make it the first Nigerian based bank to list on Ghana’s stock exchange and the tenth bank to list on the bourse.

The bank in December 2015, was the 6^th most profitable bank in the country improving a step up from the previous year.

In the same year, it also increased its share of industry deposits from 3.5% to 4.5% placing it at number ten in deposit share ranking.

Citi Business News understands Access bank will cede up to 32 percent of its stake to locals.

Some customers of Access Bank who have been speaking to Citi Business News expressed mixed reactions on purchasing shares in the bank.

Meanwhile Dr. Adu Anane Antwi believes making it compulsory for multinationals like Access Bank to cede parts of ownership to locals will be beneficial.

“When it is also listed on the GSE, it will deepen the exchange, increase the size and make it competitive to other bigger exchanges even in Africa,” he stated.

Access bank commenced operations in Ghana in May 2009 as a full service commercial bank after acquiring Intercontinental Bank in 2012, making it one of the largest retail banks in Ghana.

Access bank’s stated capital is 118 million cedis.

More multinationals to list?

It is however worth to note that none of the five telecommunication companies are listed on the stock market.

However, MTN recently announced a decision to cede 35 percent of its stake in Ghana to raise capital and secure its 4G spectrum license.

But Citi Business News understands that MTN is yet to conclude processes to allow it sell thirty-five percent of its stake in Ghana.

It is not certain how much MTN may float to the public but the Director General of SEC, Dr. Adu Anane Antwi explains, his outfit would have preferred a complete listing by MTN on the domestic bourse.

“It is welcoming news as Ghanaians will own the shares but it is more beneficial to the entire market when it is listed on the Ghana Stock Exchange,” he said.

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By: Pius Amihere Eduku/citibusinessnews.com/Ghana

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