The Asantehene, Otumfuo Osei Tutu the second is advising financial service providers to device strategies to boost public confidence to enhance local investment.
He says the rate at which traders continue to keep money in their shops, with the attendant risk, suggests banks and other financial institutions have more work to do.
The Asantehene gave the advice when officials of Ideal Finance paid a called on him at the Manhyia Palace in Kumasi.
His call comes after some traders at the Kumasi Central Market lost huge sums of money in a recent fire outbreak.
Otumfuo advised management of the institution to place a premium on building and maintaining good reputation in view of recent developments in the financial sector.
He said the current developments where some financial institutions that have taken customers money could not account for them should serve as a lesson for players in the sector to avoid such situations in the future.
According to him, it will require proper planning to avoid falling into such incidents.
Officials of Ideal Finance were at the Manhyia Palace ahead of the official opening of its first branch this week.
The company donated 10,000 Ghana cedis to the Otumfour Foundation.
Earlier the team visited Komfo Anokye Hospital where it presented 20, thousand Ghana cedis to the Maternity Ward to discharged mothers who are unable to settle their hospital bills.
Dr. Nii Kotei Dzani is Chief Executive Officer explained the rationale behind the donation and said it is their campaign to reduce the hospital’s burden.
“It is economic problem and burden on hospital when patients cannot pay their bills. That is the campaign we want to help solve the challenge in the hospitals”. He said.
Board Chairman, Captain (Rtd) Kojo Butah, sheds some light on the company’s package for the Kumasi market.
“We have done a lot of job in Accra. But we now want to extend our services to Kumasi to help residents here. That’s why we came to see you”. Captain Butah said.
Latest Stories
-
Herman Suede set to release ‘How Dare You’ on April 22
50 mins -
Heal KATH: Kuapa Kokoo, Association of Garages donate 120k to support project
1 hour -
KNUST signs MOU with Valco Trust Fund, Bekwai Municipal Hospital to build student hostel
1 hour -
The influence Ronaldo has on people, Cadman Yamoah will have same on the next generation – Coach Goodwin
2 hours -
Gender Advocate Emelia Naa Ayeley Aryee Wins prestigious Merck Foundation Awards
3 hours -
South Africa bursary scandal suspects granted bail
3 hours -
Ecobank successfully repays $500m Eurobond due April 18
3 hours -
Re: Doe Adjaho, Torgbui Samlafo IV, call for Unity among Paramountcies in Anlo
3 hours -
Extortion and kidnap – a deadly journey across Mexico into the US
3 hours -
Rihanna says fashion has helped her personal ‘rediscovery’ after having children
4 hours -
Development Bank Ghana targets GH¢1bn funding for commercial banks in 2024
4 hours -
Shatta Movement apologises to Ghana Society of the Physically Disabled after backlash
5 hours -
Sammy Gyamfi writes: Tema-Mpakadan Railway Project; A railway line to nowhere
5 hours -
Bright Simons: Is the World Bank saving or harming Ghana?
5 hours -
CAF Cup: RS Berkane banned from entering Algeria because of a map of Morocco with its Sahara
6 hours