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Ecobank Ghana Sacks 181 Staff, Close Branches Under Digital Agenda

Ecobank Ghana has sacked a total of 181 outsourced staff from its branches across the country, Business and Financial Times (B&FT) reports reveal.

The massive lay-off which took effect yesterday [Tuesday, September 4], forms part of the bank’s ongoing ‘Digital Agenda’ aimed at placing banking in the hands of clients.

The move according to Ecobank Ghana, will result in the reduction of its branches from 77 to 67. This they said, is to “ensure efficiency is high, and serve customers better.”

Also See: How To Open An Account With Ecobank

Ecobank Ghana and Anglophone West Africa Head of Corporate Communications, Reverend Mrs Patricia Sappor, revealed that branches that are close to each other will be merged as a result of the digital drive.

“We are downsizing because of our digital channels. Some areas have branches just about 200 metres away from each other. It is prudent for the bank to merge,” Rev. Patricia explained.

The recent Ecobank Ghana lay-offs did not affect the bank’s core staff. It affected only outsourced staff, otherwise known as contract staff.

According to Mrs Patricia Sappor, “We [Ecobank] have disengaged some of our outsourced staff due to most of clients moving onto our digital platforms.”

The affected persons are reported to include front and back office branch executives and staff from other departments.

Ecobank Ghana recently announced that its goal of becoming the most digitally advanced bank in Africa, has recorded a major milestone of reducing its face to face interactions by over 70 percent.

This is because a greater part of the bank’s client’s transactions are now taking place on digital channels instead of the banking halls.

See Also: Fast and Easy Steps to Using GTBank Ghana Internet Banking

With the launch of its mobile banking application barely a year ago, the bank noted that the application now has close to 120,000 clients and offers several services including cross border and country transactions and purchasing Treasury Bills, which is unique to The Ecobank mobile banking application.

The recently launched Masterpas QR, in partnership with MasterCard, seeks to boost safe and secure digital payment via the mobile phone for both the banked and the unbanked. It currently allows Ecobank account holders who have the Ecobank Mobile Banking App on their smartphones to make payments of up to GH¢5,000 in one transaction and up to GH¢20,000  at various sales points by just scanning the Ecobank QR at a merchant’s place.

Those with feature phones can access the service via *770#. In that sense, therefore, the service enables merchants like shops, restaurants, bars, food sellers, taxi/trotro drivers among others to accept payment from mobile phones, cards etc., without having to use a point of sale (POS) device.

Ecobank is currently the biggest commercial bank in Ghanain terms of assets and revenue. The Pan African Bank swept the much coveted Bank of the Year Award, as well as the Corporate Social Responsibility and Financial Performance Awards at the 2017 Ghana Banking Awards.

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