Bank of Africa-Ghana Reopens Abossey Okai Branch to Boost Financial Inclusivity

In a strategic move to enhance financial inclusivity and provide trusted commercial banking services, Bank of Africa (BOA)-Ghana, a member of the BMCE Group, has reopened its Abossey Okai branch. This branch is strategically located adjacent to the Laterbiokorshie Total Energies fuel station and is set to serve the highly retail-based business enclave, including the Abossey Okai spare parts commercial district, Kaneshie, Agbogbloshie, Zongo, Korle-gonno, Chorkor-Mamprobi, Laterbiokorshie, and other adjoining communities.

Managing Director, BOA Ghana, Abderrahmane Belbachir, emphasized the importance of physical banking halls in building trust and providing critical services that require personal interaction, despite the bank’s increased investment in digital banking platforms. “Digital banking is important and we are investing heavily in digital infrastructure to serve our customers more conveniently and to maximize customer reach. However, opening physical branches also helps us to remain very close to our customers and to understand their needs better because when you create that platform customers can walk close to you and discuss with relationship officers their challenges and get timely support,” he stated.

The reopened branch aims to offer an all-inclusive range of financial services to cater to the diverse needs of the local population. Branch Manager Mausuf Mohammed Alfah highlighted the significance of the Abossey Okai enclave as a major business zone in the nation’s capital. The former office had over 10,000 clients before its closure in 2022 due to the Obetsebi Lamptey roundabout expansion project. He stressed the importance of the physical presence of the bank for both educated and illiterate community members who prefer face-to-face interactions with bank staff.

Executive Director of Business Development, BOA-Ghana, William Boateng, noted the bank’s commitment to its clients in the area by reopening the branch. This new branch is the 23rd for the bank in the country, adding to its presence in other parts of Accra, Kumasi, Takoradi, Tamale, Wa, and Bolgatanga.

### Promoting Retail and SME Banking

Recognizing the pivotal role of Small and Medium Enterprises (SMEs) in fueling economic growth in Ghana, BOA has created tailored services to meet the unique needs of these dynamic entities. Through its SME Support Facility (SSF), BOA offers collateral-free loans to support SME customers in their business activities. 

The presence of physical branches in localities where SMEs and small businesses can quickly access assistance from employees is a motivating factor, particularly for sections of the population not inclined toward digital services. Head of Retail Banking, Haleema Akyirem, noted that retail banking covers about 45 percent of the bank’s services and plays a vital role in finance, allowing individual consumers to manage their money, access credit, and deposit funds securely.