Ecobank Ghana moves to strengthen its digital platform to offer superior digital services to its customers.

The bank says it is also set to support SME’s to implement digital policies that will lead to the growth of the economy.

Speaking at the launch of the Digital Strategy in Action Report by the Noble International Business School, the Regional Head of Operations and Technology at Ecobank, Sam Yaro, said Ecobank is always proud to support research and innovations.

“We are embarking on initiatives to improve electronic innovation across the continent, this is because we think it is the way to go,” he said.

He emphasized that digitization is the way to go for organizations who plan into the future.  

Mr Yaro said the Digital Strategy in Action Report has the potential to demystify and also encourage the acceptance of digitization which has a positive impact on business development.

The Executive Director of Pearlrichards Foundation, Dr Sheena Lovia Boateng, who presented the report said digitization provides intelligence that positively affects firm innovation capability, adding that it also offers a clear and coherent strategy that businesses could leverage on to enhance their performance.

She, however, expressed worry that only about 50 per cent of firms in the country have adopted a clear and coherent digital strategy.

The report

The report chronicles digital strategy development and implementation as pertains to current Ghana Club 100 businesses.

The emphasis on Ghana Club 100 companies is due to the perception that listed companies have distinguished themselves in their various fields of endeavour and have made unique contributions to the Ghanaian economy through successful enterprise building.

The Digital Strategy in Action report highlights the unique features of companies in both the financial and non- financial sectors and explains the peculiar nature of digital strategy formulation and implementation that applies to both sectors.

It also highlights the role of CEOs in the digitization process, while uniquely uncovering processes that place the responsibility of championing the digital strategy on the CEO.   

Mr Yaro said the report is timely and provides great insights for adoption by forwarding thinking companies, as they work to maintain relevance in the fast-paced business environment of today.  

He added “when you look at the number of people who are able to do banking with us on our digital platforms without visiting the banking hall, it indicates that the time has come for businesses to realize the need for digitalization in their operations”

The utilization of the Digital Strategy Competence Scorecard and the Digital Strategy Sophistication Evaluation Framework which are presented in the report will assist companies to ascertain their prospects and growth in terms of digitization to know whether or not they are covering the necessary ground and what steps to take in order to remain relevant in the years ahead.

Professor Kwaku Atuahene Gima, President and Executive Dean of NiBS spoke on the purpose of the research, methodology used and its impact on business.