One year of Capital Bank’s Africa journey to success
On December 1, 2015, First Capital Plus, an indigenous bank, embarked on a new journey. The very first step to mark the new forward-thinking approach and the vision to become the local bank of excellence for African markets was marked by rebranding from First Capital Plus Bank to Capital Bank.
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To actualise the corporate vision, Capital Bank appointed Nilla Selormey as Consultant and also revitalised the Board of Directors with the appointments of Mr Kofi Kwakwa and Mrs Frances Adu-Mante who have a combined total of over 50 years’ experience globally and across Africa in private equity investments, banking, corporate strategy development and implementation, corporate governance, entrepreneurship and Law.
Combined with a newly reconstituted Executive Committee under the leadership of Rev. Fitzgerald Odonkor as Managing Director, the new distinct and easy-feel Capital Bank then embarked on the journey to become the bank of excellence, a tier-one bank in the next five years and expand into other African markets; buoyed by a new capital injection of about GH¢50 million.
As Capital Bank marks the first year of its African journey, the bank has raised its profile within the Ghanaian banking sector with customer-focused retail products, expanding its presence across the country and deploying enhanced electronic products to meet the taste of the new African.
2016 under review
Capital Bank, within the last one year, has partnered world-acclaimed international money transfer providers. One of such partners is Ria Money Transfer, which operates in about 147 countries. The integration of Capital Bank’s systems with that of Ria makes it possible for customers to receive remittances instantly in their Capital Bank accounts.
In line with Capital Bank’s culture of innovation and leadership, the bank launched SpeedPay, an innovative solution that made it possible for customers to deposit cash into their bank accounts anytime, any day, anywhere through the use of their mobile phones and SpeedPay money vouchers without having to visit the banking hall.
The bank also signed an agreement with one of the fastest growing petroleum downstream sector operators, Allied Oil, to make its novel SpeedPay vouchers available to the public in Allied Oil’s service stations across the country. The successes achieved with this partnership over the past few months demonstrate the bank’s commitment to grow and entrench itself in the retail sector.
In September, Capital Bank launched the Young Achiever Account as part of its untiring pursuit for superior value and the desire to provide holistic financial solutions across every facet of the customer’s life cycle.
With an initial opening balance of just GH¢10 and a minimum operating balance of GH¢100, this product makes it possible for parents to save with their favourite indigenous bank towards their children’s future. The account comes with interest at two per cent above Capital Bank’s savings account rate, ilearn tablets, partner discounts from Sytris books, Lizzy Sports Complex and more.
The bank’s focus on delivering value-added services also resulted in a partnership with Africa World Airlines (AWA), an indigenous airline servicing the domestic and sub-regional routes, which makes it possible for customers to make flight bookings and purchase Africa World Airline tickets from any Capital Bank branch nationwide.
Capital Bank has also deployed 40 sophisticated automated teller machines (ATMs) that allow customers to do interbank and intra-bank funds transfer from their Capital Bank account to any bank through the Ghana Instant Pay platform and also through the bank’s internet banking platform.
In line with our brand promise of delivering superior value, Capital Bank launched the innovative V-man campaign this year to encourage a savings culture by giving customers free cash vouchers to open bank accounts at any Capital Bank branch. A gesture that is a novelty in Ghana’s banking industry.
Some awards
Capital Bank’s gentle steps in its African quest have been done with all good intentions, and it has not gone unnoticed. The bank was adjudged the Best Growing Bank; Best Bank in Deposits and Savings; and Best Bank in Household/Retail Banking for 2015. It was also adjudged the Best Customer Service Company in Ghana for the year 2016 by the Ghana Customer Service Council.
Capital Bank, led by a rejuvenated management team, is now the eighth ranked bank and the 25th Best Company at the 2016 Ghana Club 100 Awards organised by the Ghana Investment Promotion Centre (GIPC).
Looking ahead
After one successful year of rebranding, Capital Bank is committed more than ever to provide the best customer-focused solutions and superior value to Ghanaians as it strives to establish the brand on the continent and continue to be at the forefront of changing customer needs.