Drawing from my experience in Ghanaian banking, where changes like the 2017-2019 cleanup and DDEP necessitated rapid adaptations (e.g., GCB Bank’s restructuring), change management is critical for compliance with BoG directives and survival. Responses are grounded in practical examples, emphasizing ethical and regulatory aspects.

A. Discussion on the Statement: Change is Inevitable in Any Bank but Has to Be Managed if the Manager Has Political Power to Make It Happen
Change in banks is indeed inevitable due to evolving regulations (e.g., BoG’s Cyber and Information Security Directive 2020 amid digital threats), economic shifts (post-DDEP recovery), and competition from fintech. However, effective management requires “political power”—the manager’s influence, authority, and ability to navigate internal politics, stakeholder interests, and power dynamics.

• Inevitability of Change: Banks face external pressures like deregulation (Payment Systems Act, 2019) and internal needs such as recapitalization per BoG Notice No. BG/GOV/SEC/2023/05. For instance, Stanbic Bank Ghana adapted to digital banking to maintain competitiveness.
• Need for Management: Unmanaged change leads to chaos, as seen in collapsed banks like Capital Bank due to governance failures. Management involves Lewin’s unfreeze-change-refreeze model, ensuring alignment with corporate goals.
• Role of Political Power: Managers must wield formal authority (from BoG-approved roles) and informal influence to overcome resistance. In Ghana, this means lobbying boards for resources or aligning with unions, as in Ecobank’s post-merger integrations. Without it, initiatives fail—e.g., delayed tech upgrades due to internal silos. Thus, political savvy enables buy-in, resource allocation, and successful implementation, fostering resilience.

B. Five Reasons Why Employees Resist Change in Banks and Suggested Solutions
Resistance stems from human factors, amplified in regulated environments like Ghana’s banking sector. Solutions draw from real cases, promoting compliance and motivation.

1. Fear of the Unknown: Employees worry about job security amid changes like automation. Solution: Transparent communication via town halls, per BoG’s governance directives, to outline benefits and provide training.
2. Loss of Control or Status: Restructuring may demote roles, as in post-cleanup mergers. Solution: Involve staff in planning through participatory committees, empowering them and reducing alienation.
3. Poor Past Experiences: Previous failed changes (e.g., botched IT implementations) breed skepticism. Solution: Build trust with pilot programs and quick wins, demonstrating success like Access Bank’s phased digital rollouts.
4. Threat to Skills or Habits: New processes require upskilling, intimidating older staff. Solution: Offer comprehensive training and career development, aligned with BoG’s human capital emphasis, to enhance adaptability.
5. Group Inertia or Peer Pressure: Unionized environments resist if peers do. Solution: Engage leaders as change champions and use incentives, ensuring ethical practices under labor laws for collective buy-in.