Inside Ghana’s banking revolution

As Ghana’s banking sector strengthens following recapitalisation and rapid digital adoption, OmniBSIC Bank sets out how governance, infrastructure and a broad suite of retail, corporate and digital services are shaping a more resilient and accessible banking experience for individuals and businesses alike

Ghana’s banking sector has strengthened in structure and confidence under the supervision of the Bank of Ghana. The period following the 2017 recapitalisation exercise has brought strong asset and deposit growth, wider digital adoption and a shift toward more robust financial health across the industry.

OmniBSIC Bank has developed within this environment as a universal bank formed through the merger and recapitalisation of the former OmniBank and Sahel Sahara Bank, creating a larger institution with broader capacity and reach. Since then, the Bank has reinforced its corporate governance structures and invested in infrastructure that has led to ISO and PCI-DSS certification in line with Bank of Ghana regulatory standards.

Service quality, integrity, transparency and accountability guide the Bank’s operations. These principles create reliable systems and standards that allow clients to carry out their banking activities with confidence while maintaining a decent return on investment for shareholders. Employees are carefully selected, trained and supported to appreciate and deliver complete banking solutions while ensuring customer satisfaction.

The Bank’s retail banking portfolio is designed to meet the diverse financial needs of individual customers. Savings Accounts, for instance, enable customers to save securely while earning interest. Current Accounts support frequent transactions such as salary payments, transfers and bill payments. And the Smart Salary Account is tailored for salaried employees and embedded with insurance benefits to enhance financial protection and well-being. Foreign Currency and Foreign Exchange Accounts, meanwhile, are available for customers who transact in international currencies for personal and business purposes.

OmniBSIC has also introduced hybrid account offerings that combine savings and transactional features in response to evolving customer expectations. The FlexSave Account allows customers to earn interest on balances while enjoying transactional flexibility, including cheque usage. The Classic Account, targeted at high net-worth individuals, offers premium banking features, interest earnings, full transactional capability, cheque issuance and concierge services.

Customers access their funds through a suite of card products, including Visa debit cards, Visa prepaid cards and Visa credit cards. Debit cards facilitate local and international cash withdrawals and payments. Prepaid cards support controlled spending without direct linkage to customer accounts. Credit cards provide short-term credit with flexible repayment options. OmniBSIC also supports the e-zwich biometric card, which uses fingerprint verification to enhance security and promote financial inclusion, particularly for unbanked and underbanked populations.

Digital banking sits at the centre of OmniBSIC’s service delivery model. Internet Banking enables customers to view account balances, transfer funds, pay bills and download statements online. The mobile banking application provides similar services on smartphones, allowing customers to manage their finances at any time. The USSD banking service (*788#) enables customers to conduct basic banking transactions on mobile phones without internet access.

The Bank provides POS services for merchants and integrates mobile money to support seamless electronic collections, merchant transactions and funeral contribution payments. These services promote cashless transactions and improve convenience for individuals and businesses. Participation in GhIPSS (GIS), PAPSS and SWIFT connects customers to national, regional and international payment systems for efficient interbank and cross-border transfers.

Small and Medium Enterprises are recognised as key drivers of economic growth. OmniBSIC provides SME current accounts designed for business transactions, supported by digital banking platforms, SMS alerts and card services. Cash collection services, payment solutions and advisory support help SMEs manage cash flows efficiently. Financing is available to support working capital requirements and business expansion.

For larger corporates, institutions and government entities, the Bank provides Corporate and Institutional Banking solutions that include corporate current and savings accounts, cash management services and electronic payment solutions designed to support high transaction volumes efficiently. Foreign exchange and trade-related services facilitate international trade and cross-border transactions.

OmniBSIC offers a wide range of credit facilities to individuals and businesses, including personal loans, scheme loans, overdrafts, term loans and cash-backed loans. Businesses may access working capital finance, receivables financing and project-related funding to support operational and expansion needs. The Bank also provides guarantee and trade instruments such as bid bonds, advance payment guarantees, performance guarantees, retention guarantees and comfort letters for customers involved in contracts, construction, procurement and other commercial engagements.

Through strategic partnerships with insurance providers, OmniBSIC delivers bancassurance and wealth solutions that integrate banking and insurance services. These offerings include education plans, wealth accumulation plans, life and protection insurance products and long-term financial planning solutions designed to help customers manage risk, build wealth and achieve financial security.

Further information:
Produced with support from OmniBSIC Bank. To find out more about its banking services and solutions, visit www.omnibsic.com.gh

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