WesBank’s Ghana Msibi has been in the financial services industry for the past 15 years and now, in his role as Executive Head: Sales and Marketing at the asset finance provider, he has found a happy medium between his love of the finance industry and his passion for certain “fast-moving goods”.
A bona fide petrolhead, his career trajectory has taken him from the insurance industry straight into the belly of the automotive beast. Ghana joined WesBank in 2015, initially as the executive in charge of OEM and Joint Venture partnerships, and Insurance. He remains excited to be at the forefront of an industry in evolution, particularly as technology plays an increasingly important role to both the business and its customers. With WesBank’s increased focus on more consumer-centric product propositions, the sales and marketing functions have been consolidated to better leverage those insights into a single function.
“WesBank has always been considered an innovator,” Ghana says. “We were the first bank to employ people to sit on the dealer floor to assist our customers. Back then, that was the finest example of innovation. Now, we have the electronic iContract, where customers are able to conclude contracts in the privacy of their homes. Next we have to look at how we will continue to use ‘digital disruption’ to bring even more convenience to our customers.”
Along with his WesBank portfolio, Ghana also serves as a statutory board member of InspectaCar Pty Ltd and an advisory board member to the financial services arms of OEM partners Volvo, Isuzu, Mazda, Jaguar Land Rover, Renault, Nissan and Fiat Chrysler Automobiles in South Africa.
SEVERAL SIDES TO THE COIN
Ghana’s strong background in risk and compliance stands him in good stead when advocating a business model that is dynamic yet robust enough to match any sales channel. Be it via an OEM or dealer partner, it is important to him to continue nurturing WesBank’s solid relationships won over decades and generations, in spite of the changing landscape.
“The vehicle finance industry – driven by consumer demand, of course – is moving from the traditional ‘customer versus supplier of products’ approach, to one where the engagement is centred on virtual solutions. WesBank, however, remains partner oriented and consumer focussed. We will continue to find innovative ways to service customers in an integrated fashion, and find new ways to support them on their dealer journey, whether face-to-face or digital,” Ghana says.
Going forward, there are a number of ways Ghana envisions further harnessing the relationships between WesBank and its partners.
“Fortunately, technology is not evolving only at the point of sale,” he says. “We have to keep abreast with how technology is being consumed by buyers, OEMs and dealers, and we have to constantly tweak how we dispense our finance and engage with customers and our partners.
“While this is definitely a trying time in our industry, there is so much still to be unearthed and discovered. If we remain customer-focussed, the role of technology and digital solutions will only grow and improve our industry.”