Zenith Bank (Ghana) Ltd has taken a groundbreaking step in bridging the gap between theoretical and practical learning for tertiary students studying Banking and Finance by establishing the first-ever Banking Clinic at the Kumasi Technical University (KsTU) in the Ashanti Region.
This novel project serves as a Banking Simulation and Training Centre where students will be given practical skills in the various aspects of banking operations. The state-of-the-art simulated banking hall has been designed to replicate a standard Zenith Bank branch, complete with all essential departments and equipment found in a typical banking hall – customer service and Funds Transfer/Head of Operations desks, cash and teller points, an office for the branch manager and a relationship manager, money counting machines, computers, an electronic safe to represent a vault, a flat screen TV for projection of treasury rates and adverts on the Bank’ s products and services, mock displays of all regulatory requirements such as the Ghana Deposit Protection Corporation membership certificate, fire certificate, public notices on tax evasion and other money laundering practices, among others . The facility is also equipped with two air conditioning units, fans and many more to make learning conducive.
At a ceremony to hand over the newly established simulated banking hall to the administration of KsTU, Mr. George Imbrah, Divisional Head, representing the Managing Director/Chief Executive Officer of Zenith Bank Ghana, Mr. Henry Onwuzurigbo, explained that the initiative aims at addressing the skills gap students often encounter when transitioning from the classroom to internships or to the workplace.
“This initiative significantly reduces the steepness of the transition into the Banking industry. Moving directly from the university into the banking field can be challenging as classroom learning differs from real-word practice. As a Bank, our goal is to bridge that gap,” Mr. Imbrah said.
According to him, this initiative will have a lasting impact on the next generation of banking professionals as staff of the Bank will take turns to train and interact with the students. “This simulated banking hall is expected to help students gain practical experience through simulation, exposure to digital technology, and insights into current trends in the banking industry and by the time these students graduate, they would have gained a solid understanding of banking operations,” Mr. Imbrah added.
Mr. Imbrah further assured leadership of KsTU of Zenith Bank’s commitment to nurturing young minds and the Bank’s continued support to the institution.
The Dean of Business School, KsTU, Professor Abdul-Aziz Iddrisu, who initiated the steps towards engaging Zenith Bank Ghana to establish the Banking Clinic, highlighted the university’s commitment to providing practical training for its students.
“Many of us come from the banking sector, and we brought in colleagues from the industry to train our students using real-world models. Eventually, we realized the need for a dedicated center that would serve as a one-stop shop for everything students need to know about banking. This led us to approach Zenith Bank Ghana through our Vice Chancellor and today, we are proud to be opening this facility,” Professor. Iddrisu said.
He further revealed that the Banking Clinic would not only benefit KsTU students but would also be used to train staff from low-tier financial institutions.
The Vice Chancellor of KsTU, Professor Gabriel Dwomoh, expressed his gratitude to Zenith Bank for pioneering the project, which prioritizes the interests of students. “As a technical university, we are committed to a Competency-Based Training (CBT) curriculum. To deliver this effectively, we need the full complement of practical facilities to augment theoretical knowledge. This includes laboratories, workshops, and other practical resources such as the Zenith Bank-KsTU Banking Clinic,” Professor Dwomoh stated.
He emphasized that the uniqueness of technical universities lies not only in Science, Technology, Engineering and Mathematics (STEM) – related programs, but also in ensuring that business-related programs have the necessary practical components.
“For the humanities and business disciplines, there is often a gap between theory and practice. This Banking Clinic is a significant step towards bridging that gap. We are therefore grateful to Zenith Bank for bringing real banking operations to the doorstep of our students. They can now practice banking operations here, which will prepare them to meet industry standards upon graduation,” the Vice-Chancellor said.
Professor Dwomoh also noted that the simulated banking Clinic demonstrates Zenith Bank’s commitment to impact on the environment within which it operates. “This initiative shows that Zenith Bank is dedicated to producing graduates with the requisite competence to excel in the industry. This will benefit the industry as a whole, and we hope other institutions will take an interest in the training that takes place here.”
Prof. Dwomoh described the Zenith Bank – KsTU Banking Clinic as a testament to the power of partnerships between academia and industry, promising a brighter future for KsTU students and the broader financial ecosystem in Ghana.
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