Business News of Wednesday, 16 May 2012Source: GNA Standard Chartered Bank says it reposes a lot of confidence in the Ghanaian economy and is ready to contribute its expertise to support the country on its path to development, Sir John Peace, Group Chairman, has said.

Speaking to journalists after a three-day visit to Ghana, Sir Peace said the strong economic fundamentals were signs of good prospects for businesses and the bank would continue to exploit opportunities in areas such as oil and gas, infrastructure and solutions for large transactions in the Ghanaian market.

“We’ve been here for the past 116 years and our commitment is for the long term,” Mr Peace said, adding that the bank was ready to grow its business in Ghana.

Sir Peace was in Ghana for a three-day working visit during which he met government officials, regulators, staff and senior management of the Bank.

He also took part in a community activity related to “Seeing is believing,” the Bank’s flagship global community initiative which tackles avoidable blindness.

Sir Peace said Standard Chartered Bank’s confidence is also demonstrated by plans of the bank’s local unit to double the size of its branch networks to ensure quality service to clients in both the consumer and commercial banking domain.

The bank, he said, would keep to its pledge to be with the country for good.

“Here for good is the essence of who we are. It’s about sticking by our clients and customers through good times and bad, and always trying to do the right thing,” he said.

Sir Peace said Ghana’s economic and political achievements were being recognized by the rest of the world hence the increasing attraction as an investment destination.

“Standard Chartered Bank would continue to play its role as one of the major contributors to Ghana’s economic success story. The bank is not only concerned about profit but the overall growth of the Ghanaian economy,” he said.

Sir Peace asked Ghanaian officials to leverage the current stability and economic growth to transform the economy by investing in infrastructure and agriculture.

He said with the right vision and the rich human resource base, the country could potentially grow to become a hub for economic activities just as Singapore and Hon Kong.**