Julius Debrah, Chief of staff at the Presidency, on Friday said that profit and purpose can and must coexist, urging financial institution to foster strong relationship with the government.

He said as Ghana navigated the realities of a dynamic global economy, the importance of partnership between the government and the private sector cannot be overstated.

Debrah said this when he gave the keynote address at the opening of a new head office premises for Republic Bank Ghana (PLC)

“At a time when the world faces pressing environmental and social challenges, Republic Bank’s example reminds us that profit and purpose can – and must – coexist,” he said

Mr Debrah said the relations between a nation and its financial institutions was symbiotic.

“A strong, stable, and visionary government creates the environment for banks to prosper. In turn, prosperous, responsible, and forward-thinking banks like Republic Bank are the conduits through which national prosperity is delivered to every citizen.”

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The inauguration of a new head office is more than just a corporate milestone; he said it was a bold statement of confidence; confidence in your institution, confidence in the banking sector, and, most importantly, confidence in the future of the Ghanaian economy.

“This new head office, modern, bold, and prominently situated, stands as a testament to confidence: confidence in Ghana’s financial system, in our people, and in our collective ability to build a resilient future. It mirrors what we seek to achieve as a nation: institutions that are strong yet compassionate, rooted in heritage yet driven by innovation, and distinctly Ghanaian yet globally competitive.”

The new head office of the Bank Ghana (PLC) dubbed Republic Court is located at the Ridge Roundabout

Commending the Board and Management of the Republic Bank Ghana (PLC) the Chief of Staff, said the Government of Ghana deeply appreciates the crucial role that Republic Bank has played and continues to play in national development.

“Through your leadership in mortgage financing, you have proven to be a trusted partner in promoting housing development. Your work in affordable housing aligns perfectly with the Government’s own commitment to bridging Ghana’s housing
deficit, currently estimated at between 1.8 and 2 million units.”

Despite the challenges of affordability and rapid urbanization, Republic Bank continues to empower citizens through innovative mortgage solutions that make a decent living attainable for ordinary Ghanaians, he added.

Mr Debrah advised the bank to embrace credit scoring models that consider cash flow. Partner with us on targeted loan guarantee schemes for SMEs in priority sectors, saying “the story of your bank’s contribution to the economy will be written in the success stories of the SMEs you choose to fund today.”

He also urged the bank to deepen her partnership with the Ghana Interbank Payment and Settlement Systems (GhIPSS) to roll out more inclusive products.

Mr Debrah expressed the Government’s appreciation to the Bank for adopting and maintaining the African Union Square, directly opposite the new head office building, which is a visible demonstration of corporate citizenship.

Dr Benjamin Dzoboku, Managing Director of the Bank said their new head office represented sustainable growth and served as a bridge between where and how the bank started and where it was now.

While promising to serve Ghanaians with superior customer experience, Dr Dzoboku said about 136 Ghanaians benefitted from their mortgage package last year alone.

Augustine Kwame Addo, a friend of Republic bank who gave a historical background of the Bank Ghana (PLC) said he was happy that it continued to support the building of houses.

He said the new head office of the bank also signified progress and commended the board and management as well as the staff of Republic Bank Ghana (PLC) for the progress they continue to make.

John Awuah, President of the Ghana Association of Bankers, described Republic Bank as a legacy bank, having started a lot of initiatives that support the Ghanaian citizen.

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