The Governor of the Bank of Ghana, Dr. Ernest Addison, has described Absa Bank’s decision to relocate its head office from Accra High Street as “Long overdue” but lauded the bank for its environmental-consciousness.
The Governor made these comments at Absa’s ‘soil-turning’ event when he was asked to give his opinion on the bank’s decision.
Meanwhile, Abena Osei-Poku, the Managing Director of Absa Bank, was direct in her comments about the relocations underpinning rationale. She promised that the building will be designed with the latest artifacts that reflect the realities of the modern world.
“The time is right for us to chart a new direction in our relationship with Ghana, which will hopefully last beyond another hundred years. The dynamism of the global workplace makes it difficult for our old head office at high street to rhyme with the evolving digital ecosystem. Our new building will be designed with only the latest trends of the digital workplace and innovation for the benefit of our employees, customers and stakeholders.”
Abena Osei-Poku
After 104-years of operating its head office on the Accra High Street, Absa Bank is now preparing to relocate its head office from the Accra high street.
Importance of Absa Bank to the Banking Industry
Mrs. Elsie Addo-Awadzi, the Second Deputy Governor, who mounted the stage was lavish in her appreciation for Absa Bank, hailing it for being such an important financial institution in the banking space in Ghana. She also highlighted the bank’s environmental stewardship and urged it to continue in that direction.
“Absa remains a very important player in the banking sector. It has demonstrated leadership over the years, and was even the first to meet the minimum capital requirement set by the Central Bank in 2018. I am glad they have committed to take issues of environmental sustainability, reduction in carbon footprints and compliance with the sustainable banking principles, into consideration when the construction begins.”
Mrs. Elsie Addo-Awadzi
Absa Bank’s Chief Operating Officer, Michael Mensah-Baah, praised the timing of the relocation and soothed shareholders’ fears by assuring them that the decision would have no ramifications on them. The Chief Operating Officer also emphasized the bank’s unwavering commitment to providing the best banking and non-banking services to its customers. He then urged the customers to continue banking with them and to entrust them with their assets as they are best in handling customers in the country.
“Our model for this new building revolves around four key themes – our people, customers, resilience and sustainability. No matter how you dice it, we have covered every aspect in making this new building a reflection of the future of banking. Energy conservation, reduction in waste, digital innovation and creativity, are integral in this construction as we aim towards completion in the next 18-months. The timing is right because we have the ability to finance without any repercussions on our business or shareholders’ expectations.”
Michael Mensah-Baah
Banking is a way of life. Its ability to empower small and medium-sized enterprises, contribute to socio-economic growth, and improve people’s lives, communities, and society cannot be emphasized. Absa Bank’s cutting-edge strategy across its major businesses continues to reflect leadership and expertise, and the new head office is just another example of the bank’s commitment to innovation.
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