Influx of global giants doesn't scare us – NTHC
The NTHC Limited has pledged to remain the number one company that plays a lead role and maintains an enviable market share in the investment banking space despite the influx of global giants into the market in recent times.
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The company aims to maintain that dominance through the infusion of technology into its operations, the expansion of its product range, increase in customer reach and sharpening of its service delivery skills.
The Board Chairman of NTHC, Mr Peter Hayibor, said in Accra that although the influx of companies, most of which were respected names in the global financial market, had heightened competition, NTHC had developed a strong growth strategy that will ensure that the company continues to maintain its number one position.
Mr Hayibor explained at the company's 40th anniversary launch and head office commissioning in Accra that NTHC had, over the last 40 years, maintained its dominance in the market in spite of the increasing entry of big global players into our markets and the keener competition that it generates.
As a pioneering investment banking company that has dozens of credit to its advantage, the Board Chairman said NTHC would not be complacent after 40 years of helping develop the financial market.
"On the contrary, we are constantly seeking new ways to expand our product range, increase our customer reach and sharpen our service delivery," he said at the launch.
The event, which was graced by present and past staff and board members, was to celebrate the success stories of the company since its inception in 1976.
It was on the theme: 'Pioneering Sustainable Investment Banking: Now and into the Future.'
Changing trends
Over the past 40 years, Mr Hayibor said the capital market has changed considerably, with customer needs growing, product offerings expanding and the number of players increasing.
This means that competition has become keener, the risks to businesses have become more complex and the line between business success and failure has thinned,” he said.
"In the midst of these developments, NTHC has remained relevant," the board chairman added.
This, he said resulted from the continuous expansion of the company's business and product lines and the increment in the channels with which it delivers its services to customers.
"Today NTHC group is one of just a few institutions which offer the full suite of investment banking services available in this country under one roof," he added.
In the coming days, Mr Hayibor said the company would opening new branches in Kasoa, Nkawkaw and Techiman this year.
"These will be followed by branches in the two upper regions next year. In addition, we are working to sharpen our electronic service delivery platform throughout our channels and at our centralised operations hub here in Accra," he explained.
The company currently has branch offices in eight regions.
Supporting national development
The company's Chief Operating Officer and Acting Managing Director, Mr Francis Apanka, said as a majority state-owned company, NTHC acknowledged that it has a duty to use its business and unique position to contribute to the national development agenda.
"An important part of this agenda include mobilising and directing long term capital to critical sectors of the economy, educating and helping our people to develop the tenets of savings, investment and entrepreneurship, and taking our products and services to all, particularly those sections of our population, which remain outside the financial services mainstream," he said.
This, he said informed the company's resolve to use its informal sector pension fund, the SSNIT Informal Sector Fund, to help mobilise funds from people outside formal employment.
The company is also hoping to use its financial literacy campaigns to get about a million people to patronise savings and investments, which Mr Apanka said would benefit mostly young people in secondary and tertiary schools.
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