Kwamina Asomaning urges businesses to demand more from banking relations

Kwamina Asomaning, the Chief Executive Officer of Stanbic Bank, has called on Ghanaian business leaders to demand greater value and strategic depth from their banking relationships. Speaking at the Transaction Banking Client Engagement Forum, Mr. Asomaning emphasized that in a rapidly evolving economic landscape, banks should no longer be viewed merely as providers of routine financial services. Instead, he urged firms to treat their banks as strategic partners capable of providing the expertise and actionable insights necessary to navigate modern market complexities.

According to Mr. Asomaning, the traditional model of banking is shifting toward a more consultative approach. He highlighted that businesses should expect their banks to play an active role in managing liquidity, enhancing operational efficiency, and identifying untapped growth opportunities. By demanding more specialized support, companies can better position themselves to withstand economic pressures and optimize their internal financial processes. This shift is particularly crucial for firms looking to move beyond basic transactions toward sophisticated financial management.

The CEO also stressed the importance of regional connectivity, especially for Ghanaian companies aiming to expand their footprint across the African continent. He noted that as the continent becomes more economically integrated, businesses must leverage the regional networks and trade finance expertise of their banking partners to facilitate smoother cross-border operations. The forum served as a platform to address these changing expectations, focusing on how trade finance can be better tailored to support the growth of indigenous businesses in an increasingly interconnected economy.