Bank Of Africa Targets 5% Market Share

Bank of Africa (BOA) Ghana Limited has targeted about five percent market share in the next couple of years. Presently, the international bank which acquired majority stake in Amal Bank has 2.5 percentage points market share in the banking industry. But Kojo Andah, Managing Director of the bank, said his outfit would explore strategies using quality customer service, cohesive network and a range of available financing solution to grow the brand and become more profitable. Outlining the bank�s plan for the coming years he said, �As Bank of Africa-Ghana, our agenda for the coming years would simply be to constantly commit ourselves to our mission of offering innovative and convenient financial solutions to meet the needs of our customers.� With the benefit of the group�s experience and support, he stated that the drive into the retail and SME markets would continue with even more passion. He added that the bank was a dominant force in the 14 countries it operates in on the African continent, adding it would leverage on that to introduce innovative products onto the market. Stephen Ata, Chairman of BOA-Ghana on his part indicated that �having an international scope but an African base affords the bank the ability to deal across several sectors and demographics and also anticipate and understand customer needs so as to provide innovative but practical solutions.� Allen Quaye, Head of Retail Banking, outlined some plans such as a service quality department, investment in software, people and right policies, that would help drive the bank, adding by next year, the bank would sweep several awards. The bank rebranded yesterday at a colourful ceremony in Accra. Its colours are green and white. Founded in Bamako, Mali in 1982, the Bank of Africa Group is a privately owned, multinational financial service provider that has consistently impacted several African nations with Ghana being the 15th addition. Other countries in which it operates are Benin, Burundi, DR Congo, Kenya, Madagascar, Uganda and Senegal. Its business consist of 15 commercial banks, three leasing companies, two life assurance companies, two investment banks and others.