Communicating with Informal Sector Clients: A study of Strategies Employed by Ghana Commercial Bank and Unibank Ghana Limited

Abstract

Even though theoretical evidence exists that tells of the need for effective communication between banks and their informal sector clients, little seems to be understood about the exact nature of communication between the two. Guided by the two-way symmetrical model and the communication accommodation theory this study set out to identify the communication strategies used by Ghana Commercial Bank and Unibank Ghana Limited in communicating with their informal sector clients in building mutually beneficial relationships. The objective was to identify and describe the specific communication strategies used by Ghana Commercial Bank and Unibank Ghana Limited to communicate with those clients. The study employed the in-depth interview method in gathering data as well as documentary analysis. The study found that the communication strategies employed by the two banks included using relationship managers as well as employing the technique of code-switching or using languages the client understood when communicating with the informal sector clients. The medium through which strategies were channelled included face to face interactions during workshops and banking clinics, telephone calls and regular visits from the bank officials known as relationship managers. These strategies helped both banks to promote mutual understanding and establish mutually beneficial relationships with their informal sector clients.