Ghana’s financial sector is experiencing major changes with new emerging trends.
These, according to Chief Finance Officer of the Ghana Commercial Bank Limited (GCB), are bound to shape the financial services landscape.
Mr. John Awuah observed the banking sector is also becoming more sophisticated as banks introduce new risk management products to help their customers’ hedge and manage risks they are exposed to in a more prudent and sustainable fashion.
He has therefore stressed the need for media practitioners in Ghana to play an active role in educating Ghanaians on the economic and financial situation of the country.
He says it is important for the media to accurately report on business and financial issues to enable people make informed decisions.
‘We should aim to target our financial reporting to suit the different needs of our vast audience without losing touch or misrepresenting the key elements of the issues we report on,’ said Mr. Awuah.
He was opening a seminar for financial journalists and reporters in Kumasi.
Mr Awuah said business and financial journalists need to enhance their understanding of the issues to better analyze and interpret current economic trends.
Attended by 30 journalists across the print and electronic media in the Ashanti Region, the workshop was the second in a series organised by GCB to sensitize journalists to do a thorough job in financial reporting.
Mr. Awuah urged the media to serve as the link in attracting export and export financing to Ghana and the West African Sub-Region through their reportage and analysis.
He said, the media must endeavour to attract financing for the export sector by delving into the challenges and opportunities inherent in the sector for the benefit of the nation.
Ghana and the Ashanti Region are endowed with cocoa, timber, natural and other resources, talent, rich culture and tradition as well as a booming artisan industry which make Kumasi the centre of trade in Ghana and for the sub-region.
‘As media practitioners you are the link between export and export financing. Your discoveries and research through reports and your reportage of events can open up investment and export opportunities for this country,’ Mr Awuah said.
This, the GCB Chief Finance Officer noted will help arrest the current financing gaps in the economy and create employment avenues for all.
Banking consultant and Executive Head of the College of Banking and Management, Nana Otuo Acheampong, noted that with the advent of internet and Information Communications Technology (ICT) journalists could enhance their reportage.
He urged media practitioners to set for themselves high standards and equip themselves with the requisite skills to meet the needs of the listening and reading public.
Dr Messan Mawugbe, Chief Executive Officer of the Centre for Media Analysis, who was the resource person, called on financial journalists to make effective use of financial analysts to give greater credibility to their reports.
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