Ghana: Banking and Insurance fair 2011 opens at The National Theatre of Ghana

Ghana Banking and Insurance fair 2011By Peterking Quaye, from – The 2nd in the series of Banking and Insurance Fair has opened  in Accra ,after a successful launch during the week . The fair is expected to bring key financial and insurance companies in the country to present their products and services as well enlighten visitors  about the financial literacy .The 2011 Banking and Insurance Fair has been launched with a call on operators in the financial sector to develop innovative products that would attract rural folks to save.

The three-day fair running from 17th to 19 March is expected to create a platform for financial institutions to market their brands and introduce new products and services.

Speaking at the launch in Accra, Mr Ogyiri Sackey, Managing Director of Kotlers Management, a private financial institution that is organising the fair, expressed worry over the low level of interest most Ghanaian exhibited for products in the financial sector. There was no observation of foreign exhibitor during the tour with the media at the various stands .

According to him, most people , especially rural folks, were not interested in patronising products from both the banking and insurance sectors, stressing the countryside dwellers preferred unorthodox forms of savings. The Second Banking and Insurance Fair dubbed Financial Fair has been launched in Accra today. The Guest Speaker, from ADB ,Mr.Adam Sulley ,Head of Retail Banking was of the view that  the bank is supporting  the event because the event is a good platform to present it product to the Ghanaian banking public and which the organizers will like up to expectation .

Ghana Banking and Insurance fair 2011The fair seeks to create a platform exclusively for all financial institutions to market their brands, introduce new product and services, educate customers and bridge the gap between institutions and the clients. The fair is expected to attract a target market of over twenty thousand (20,000) visitors, mostly small and medium enterprises, families, students, corporate bodies and the general public as a one stop shop for all clients.

Addressing participants at the launch, Mr. Buabeng , Director of Research at the  Research &External Relations Manager at Ghana Insurance Commission, (NIC) said Insurance companies have introduced a number of innovative products that are yet to be marketed and sold to in the regions and districts and also added that there is the need to extend such innovative products and policies to the districts.

He disclosed that commercial building insurance which has just been introduced on the market is obligatory just like the Motor Insurance. As part of the fair, a financial forum will be organised to educate, interact and listen to clients’ demands and suggestions.

The fair ended successfully and most participant that exhibited their products and services said they were delighted of being part of it and expected another fair next year and wished the organizer more innovation.