GHANA’S BANKING SECTOR CLEANUP: ITS REPERCUSSIONS ON CUSTOMER ATTITUDES TOWARDS BANKING

Frederick AFFUM; Kwadwo Ayeh OBİRİ

doi:https://doi.org/10.17261/Pressacademia.2020.1336

Article Details

GHANA’S BANKING SECTOR CLEANUP: ITS REPERCUSSIONS ON CUSTOMER ATTITUDES TOWARDS BANKING

Authors:

Frederick AFFUM | Kwadwo Ayeh OBİRİ

Publisher:

PressAcademia

Main Topics:

Sociology and anthropology | Management

Journal:

Journal of Management Marketing and Logistics 2020 Vol.7 Issue 4, pp.234-248

Document Type:

Article

Publication Date:

12/2020

Document Language:

English

Document ID (Org No.):

2000742127

Frequency:

Quarterly

eISSN:

2148-6670

DOI:

https://doi.org/10.17261/Pressacademia.2020.1336

Abstract:

 

Purpose- This study seeks to investigate customer’s attitude towards banking following Bank of Ghana’s banking sector cleanup exercise with focus on market women in the Yilo Krobo municipality. This manuscript represents a starting base for similar researches to be conducted in other selected municipalities in Ghana.
Methodology- The study considered both the primary data source which were obtained through the use of self-administered survey questionnaires from a total of 198 conveniently selected market women in the Yilo Krobo Municipality of Ghana, and secondary data source mainly through the review of existing literatures from journals, newspapers and articles.
Findings- The study revealed an opposing attitude towards banking among market women, as more than 70% of market women in the municipality had their banks or financial institutions dissolved and for that matter losing their business capital and personal savings. This position has resulted in only a few market women (18%) maintaining high confidence in the banking sector. The majority of market women rated their confidence level as moderate (41%), low (33%) and no (8%), citing unpaid locked up funds, the fear of losing their savings again, loss of trust and to some extent a suspicion of political interferences in banking activities in the country as reasons for their ratings.
Conclusion- It is recommended that, a similar exercise should not be carried out in the future as its ripple effects on customers can further ruin their trust completely in the banking sector. Furthermore, in the wake of dissolution of any institution, a much more attention should be given to how customers will be paid as early as possible to save their businesses and livelihoods.

Article Details

GHANA’S BANKING SECTOR CLEANUP: ITS REPERCUSSIONS ON CUSTOMER ATTITUDES TOWARDS BANKING

Authors: Frederick AFFUM | Kwadwo Ayeh OBİRİ

Publisher: PressAcademia

Main Topics: Sociology and anthropology | Management

Journal: Journal of Management Marketing and Logistics 2020 Vol.7 Issue 4, pp.234-248

Document Type: Article

Publication Date: 12/2020

Document Language: English

Document ID (Org No.): 2000742127

Frequency: Quarterly

eISSN: 2148-6670

DOI: https://doi.org/10.17261/Pressacademia.2020.1336

Issues

Authors:

Frederick AFFUM | Kwadwo Ayeh OBİRİ

Publisher:

PressAcademia

Main Topics:

Sociology and anthropology | Management

Journal:

Journal of Management Marketing and Logistics 2020 Vol.7 Issue 4, pp.234-248

Document Type:

Article

Publication Date:

12/2020

Document Language:

English

Document ID (Org No.):

2000742127

Frequency:

Quarterly

eISSN:

2148-6670

DOI:

https://doi.org/10.17261/Pressacademia.2020.1336