Investigating Public Relations in the Ghanaian Banking Sector: An Overlooked Perspective

Abstract

This study examines the often-overlooked role of public relations (PR) within Ghana's banking sector, with a particular focus on the shortcomings identified during the 2018 banking sector clean-up. The crisis, which resulted in the closure of several banks, highlighted significant deficiencies in stakeholder communication, transparency, and crisis management. Using a qualitative case study approach focused on GN Bank, this research employs document analysis and applies PR theories, including Excellence Theory and Systems Theory, to assess the effectiveness of PR practices during the crisis. The findings reveal that PR efforts were predominantly reactive, focusing more on promotional activities than on proactive stakeholder engagement and two-way communication. This lack of a strategic PR framework exacerbated reputational damage and eroded public trust. The study highlights the crucial role of PR in managing organisational crises, stressing the importance of transparency and stakeholder-focused communication in mitigating reputational risks. To address these challenges, the study recommends the adoption of the two-way symmetrical communication model, the enhancement of PR capacity through targeted training, and the integration of robust crisis management frameworks to improve stakeholder relationships. By implementing these measures, Ghanaian banks can restore public trust and bolster long-term resilience. This research contributes to the ongoing discourse on financial PR in developing economies, providing practical insights to refine communication strategies within the banking sector.