PriceWaterhouseCoopers (PWC), a leading professional services firm, has projected that it will take over five years for Ghanaian banks to fully transition into the digital space. Despite the increasing shift toward digital banking, PWC believes many customers still prefer face-to-face interactions with bank staff, slowing down the adoption of digital services.
Speaking after a meeting with key stakeholders in the banking sector, Vish Ashiagbor, the Country Senior Partner for PwC Ghana, highlighted the challenges. He pointed out that achieving a 95% digital penetration rate in the near term is unlikely due to several factors.
“The demographics of Ghana show that a significant portion of the population is still adjusting to the digital narrative,” Ashiagbor explained. “Beyond that, there’s the issue of network reach. While urban areas have better connectivity, many banking activities occur in agricultural, cocoa-producing, and mining communities where connectivity is less reliable. Digital banking depends heavily on infrastructure, and without improvements in education and network access, hitting that 95% mark will be difficult.”
During the meeting, PwC shared insights from its Banking Customer Experience (CX) survey and launched the first edition of the Ghana Banking Sentiment Index (GBSI). The survey, which gathered responses from over 4,700 banking customers, emphasized the need for banks to invest in technology that ensures 24/7 availability and seamless digital services. Additionally, customers stressed the importance of courteous, friendly employees in enhancing their banking experiences.
Like, comment in the box below, and share on all our social media platforms. For more updates on international news, local news, business, elections, sports, and exciting discussions, tune in to Orange FM 1079
