Customer experience (CX) remains front of mind for most business leaders in the banking industry here in Ghana and a top-of-agenda item in boardrooms. There is a general, albeit reluctant, admission by members of the C-suite that there is little variety in the features and pricing of products and services that their banks offer in competition with others in their peer groups, or in adjacent or even further removed tiers within the banking industry.
While a good number of banks in the industry have initiated or implemented one or other technology or digital transformation project, many banking executives openly admit that the immediate battle that they are focused on entails winning the hearts and minds of their customers. They are fully subscribed to the notion that a satisfied customer represents a willing, unpaid brand ambassador who would happily project and market their brand to others. But they are also aware that, in the same way, dissatisfied customers could ruin their reputations with a few spontaneous posts on social media.
PwC’s 2024 Ghana Banking Survey Report revealed the public’s sentiments about the top five contributors to excellent CX: speed (in-branch wait time); predictability of results; employee expertise; easy access to their accounts; and highly engaged employees. Our earlier banking CX survey (conducted in 2022) showed a similar pattern in what bank customers prioritised as the biggest contributors to excellent CX—speed (in-branch wait time), predictability of results, and employee expertise remained customers’ top three priorities.
To validate our findings from these solicited CX surveys, we collaborated with DataEQ to process unsolicited feedback on social media platforms about banks in Ghana. These public conversations were spontaneous and unsolicited, and we feel would, in many cases, objectively reflect the true sentiments of customers towards their banks drawing from firsthand experiences or close-to-action experiences.
The 12th CITG's Annual International Tax Conference, where our Tax Partner Dzidzedze Fiadjoe kicked off Day 1 with an insightful presentation on leveraging technology in transforming tax administration and compliance.
Following the passing of the following tax laws in December 2023 by Ghana’s Parliament, the President has assented to the laws and they have been gazetted on 29 December 2023.
The advent of new technologies continues to disrupt existing traditional industries while creating new ones. In this article, we focus on fintech and its taxation challenges.
This article is the second in a two-part series of articles that seeks to discuss whether the tax practices in Ghana have evolved to meet the demands of ESG requirements.
This article is the first in a two-part series of articles that seeks to discuss whether the tax practices in Ghana have evolved to acknowledge the demands of the environment we operate in.
In this edition, we will highlight some of the tax issues that happened in the third and final quarters of 2021.
As we face 2022 with optimism, let us recap some of the tax measures introduced in Ghana in 2021.
In this article, we have explained the three new laws that have been enacted to amend existing tax laws on income tax, VAT and sanctions waiver.
A background and a high-level summary of the new Transfer Pricing (‘TP’) Regulations recently enacted by the Government of Ghana (‘GoG’) to regulate mainly the pricing of related party transactions of entities in Ghana.
This article discusses the provisions of the New TP Rules on a principle central to controlled transactions - the Arm’s length Principle (‘ALP’) and some major changes to some provisions that existed under the Old TP Rules.
