OmniBSIC Bank Ghana LTD successfully hosted the inaugural Chinese Business Seminar themed ‘Banking with Ease’, solidifying its commitment to fostering robust ties with the thriving Chinese business community in Ghana.
The seminar, held on Friday, March 22, 2024, at
Tang Palace Hotel, convened seasoned entrepreneurs, innovators, and business
leaders from the Chinese business community for insightful discussions and
networking opportunities.
Mr. Daniel Asiedu, Managing Director of OmniBSIC
Bank, extended a warm welcome to all attendees, emphasizing the Bank’s
commitment to nurturing mutually beneficial relationships and providing
valuable insights into Ghana’s dynamic banking environment and tax
regime.
The seminar featured distinguished speakers,
including Mr. Tang Hong, President of Ghana Association of Chinese Societies
and Ghana Chinese Chamber of Commerce, who expressed gratitude to OmniBSIC Bank
for facilitating the seminar and noted that “Today marks a significant
milestone in our bilateral relations as we gather to deliberate on pertinent
issues concerning Sino-Ghanaian economic cooperation and cultural exchange.”
Tax and Legal Consultant, Ismail Ibn Ibrahim,
provided expert insights into navigating tax compliance and achieving tax
efficiency in Ghana. He emphasized the significance of maintaining proper
records and strategizing expenses to ensure businesses comply with tax laws and
obligations.
“Navigating tax compliance and achieving tax
efficiency are paramount for businesses. It’s about ensuring compliance with
tax laws while planning taxes properly to achieve tax efficiency. Maintaining
proper records is crucial. If you do not maintain records, how do you justify
your expenses? You have to be able to have records to justify the things that
you’ve done in your books,” he said.
The Chief Operating Officer of OmniBSIC Bank,
Dr. Philip Oti-Mensah on the sideline of the meeting noted that the Bank has
entered into a strategic partnership with China Chouzhou Commercial Bank,
enabling direct transactions in Chinese Yuan.
Highlighting the benefits, he added, "That
means that we can now transact directly in the Chinese Yuan."
This move is expected to enhance business
opportunities for both Chinese communities in Ghana and Ghanaians conducting
business with China. It means that we can now transact directly in Chinese
Yuan. He expressed confidence in the partnership, describing it as
"perhaps one of the best deals a Ghanaian bank can have with a Chinese
bank," given the stature of China Chouzhou Commercial Bank in China's
banking sector.
The seminar served as a platform for dialogue,
collaboration, and knowledge sharing, empowering Chinese businesses in Ghana to
navigate the complexities of the local business environment with confidence and
ease. Participants were encouraged to seize the opportunities presented and
forge lasting connections that would propel their businesses to new heights.
In his remarks, Mr. Daniel Asiedu urged
attendees to embrace the spirit of collaboration and innovation, stating,
“Together, let us embark on this journey of discovery, innovation, and
prosperity.” He expressed gratitude to all speakers, partners, and attendees
for their unwavering commitment to strengthening Sino-Ghanaian relations and
advancing economic cooperation.
The Chinese Business Seminar organized by
OmniBSIC Bank Ghana Limited marked a significant milestone in fostering
economic cooperation, cultural exchange, and mutual prosperity between Ghana
and China. The event reaffirmed the bank’s position as a trusted partner in
supporting the growth and success of Chinese businesses in Ghana.
OmniBSIC Bank and China relationship
OmniBSIC Bank’s relationship with the Chinese
community dates further back and the business seminar serves as another
testament to the strength of the relationship. Last month, the Bank was deeply
involved in the celebration of the 2024 Chinese Lantern Festival Gala.
The Lantern Festival, which is held two weeks
after the Lunar New Year –a celebration by Chinese and other Asian nations
across the world which ushered in the Year of the Dragon– was commemorated in
Ghana on Monday, February 26.
The event, which was organized by the
Association of Chinese Societies in Ghana, took place at the forecourt of the
State House, Accra, and OmniBSIC Bank actively participated via sponsorship and
presentation of honours and the signing of a memorandum to further engage in
business opportunities.
Already, the Bank, last year announced its
commitment to strengthening collaboration and partnership with China in order
to enhance the seamless transaction of businesses and build socio-economic
development between the two countries.
For example, in August 2023, at the 62nd signing
ceremony of the treaty of friendship between Ghana and China, organised by the
Ghana-China Friendship Association (GHACHIFA), Mr. Asiedu noted that OmniBSIC
Bank’s commitment to working closely with China aligns with the broader efforts
of the Ghanaian Government to strengthen bilateral ties and attract foreign
investment.
