Social media

Notwithstanding the strides chalked by the Ghanaian banking sector, banking penetration still leaves much to be desired. Bawumia (2010) publicised the unbanked population as 70% and Wampah (2014) disclosed the unbanked population ratio as exceeding 80% with banking operations largely urbanised. Strategising to rope in more of the unbanked populace is also challenged by the low financial literacy rate. The rather low permeation of banks to the rural areas implies a significant unexploited segment to mobilise deposits and augment the profitability of the system. Ackah and Asiamah (2014) documented that the high cost of credit, high lending rate and low credit availability to the private sector have bedevilled the sector. Lending rate averaged 28.51% from 2005 to 2016 having attained the highest of 42.84% in August 2016 and lowest of 21.24% in March 2008. High interest rate spreads averaged 23.01% between 2009 and 2014 as compared to a sub-Saharan average of 8.57% in 2012 (Adoah, 2015; Garr & Kyereboah, 2013; Mansah & Abor, 2013; tradingeconomics.com). Ghanaian banks are challenged with balancing risk management and growth. Lack of structures to ascertain veracity of identification and credit history of borrowers exposes the industry to fraud. The policy to gather detailed customer information upon opening of accounts has not sufficed in forestalling banking fraud. Boateng, Boateng and Acquah (2014) asserted annual loss to bank fraud run into millions of Ghana cedis.

Opportunities

The establishment of foreign-owned banks into Ghanaian banking with the prerequisite to bring into Ghana 60% of initial capital in foreign convertible currency creates the platform for injection of foreign capital to stimulate economic development (Tetteh, 2014). Foreign-owned banks form approximately 52% of the total number of banks as at September 2016. Incorporating technology in service delivery removes tailbacks of accessing banking services and offers a plethora of media such as internet and mobile banking, real-time settlement and ATMs for banks to innovate products and services and expand customer-base (Domeher, Frimpong & Appiah, 2014). Kumar (2011) recommended that businesses with a goal to revamp customer confid

Sample Solution

With its raging popularity, social media is a fiercely competitive space where much has become instantaneous – instant attention, instant reputation, and profits- to name a few. This is what attracts many, and everyone wants their slice of fame and fortune. However, it is extremely difficult to make your voice heard if you do not apply the right techniques. And the right techniques come from upgrading your skills. Let’s talk about one such skill that you should possess or enhance in these times of social media boom – writing! Writing is expression. It is the ability to write and express that separates us- humans from the animal kingdom. So, writing skills matter because it is the most important form of communication. The large transaction of information is all based on good writing. Writing in the age of the internet is a marketing pitch in itself. Through effective writing, you create engagement for your audience. From creating a blog post to a tweet, writing ability always dominates a critical part of your social media profile. To motivate your audience to hit the click button you have to craft a headline that is magnetic and captivating enough.