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From traditional roots to digital bytes: Can digitalizing ESG improves Ghanaian rural banks’ brand equity through stakeholder engagement, and customer loyalty?

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  • Francis Atta Sarpong
  • Peter Sappor
  • George Nyantakyi
  • Isaac Ahakwa
  • Owusu Esther Agyeiwaa
  • Benjamin Blandful Cobbinah

Abstract

This study examines the impact of Digitalized Environmental, Social, and Governance (DESG) practices on rural banks in Ghana, focusing on their relationship with stakeholder engagement, customer loyalty, brand equity, and financial performance. The study collected data from 724 respondents, including bank customers and officials. The study finds that DESG practices directly and positively affect rural banks’ brand equity using Partial Least Squares Structural Equation Modeling (PLS-SEM). Additionally, stakeholder engagement indirectly and positively mediates the relationship between DESG and brand equity. Meanwhile, customer loyalty significantly mediates DESG and brand equity, and the combination of stakeholder engagement and customer loyalty jointly and significantly mediates the relationship between DESG and brand equity. Furthermore, DESG and brand equity indirectly and significantly impact rural banks’ financial performance during the study. These results underscore the essential role of digitalizing ESG practices in enhancing banks’ brand equity and overall performance. As a result, the study recommends that rural banks invest in digital infrastructure and platforms to enable effective stakeholder engagement, customer loyalty programs, and ESG reporting.

Suggested Citation

  • Francis Atta Sarpong & Peter Sappor & George Nyantakyi & Isaac Ahakwa & Owusu Esther Agyeiwaa & Benjamin Blandful Cobbinah, 2023. "From traditional roots to digital bytes: Can digitalizing ESG improves Ghanaian rural banks’ brand equity through stakeholder engagement, and customer loyalty?," Cogent Business & Management, Taylor & Francis Journals, vol. 10(2), pages 2232159-223, December.
    • Handle: RePEc:taf:oabmxx:v:10:y:2023:i:2:p:2232159
    DOI: 10.1080/23311975.2023.2232159
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    Citations

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    Cited by:

    1. Coulibalyaicha Massaran & Jingli Liu, 2024. "ESG Impact on Green Purchases: Côte d’Ivoire’s Retail Sector in the Digital Age," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 8(7), pages 1419-1450, July.
    2. Shaofeng Wang & Hao Zhang, 2025. "Promoting sustainable development goals through generative artificial intelligence in the digital supply chain: Insights from Chinese tourism SMEs," Sustainable Development, John Wiley & Sons, Ltd., vol. 33(1), pages 1231-1248, February.
    3. Matthew Yau Choi Chow & Shirie Pui Shan Ho, 2025. "Predicting relational outcomes via ESG: the mediating role of customer involvement," Journal of Financial Services Marketing, Palgrave Macmillan, vol. 30(4), pages 1-14, December.
    4. Esther Agyeiwaa Owusu & Lulin Zhou & Agyemang Kwasi Sampene & Francis Atta Sarpong & Francisca Arboh, 2024. "Fostering Environmental Performance Via Corporate Social Responsibility and Green Innovation Initiatives: Examining the Moderating Influence of Competitive Advantage," SAGE Open, , vol. 14(2), pages 21582440241, April.
    5. Karen Dwumah & Peter Sappor & Francis Atta Sarpong, 2025. "Navigating the Green Path: Strategies for Enhancing Organizational Citizenship Behavior for the Environment Through Green HRM Practices," Business Strategy and the Environment, Wiley Blackwell, vol. 34(3), pages 3045-3061, March.
    6. Shakila Kousar & Jianguo Du & Muhammad Umair Wattoo, 2025. "The Role of Digital ESG Practices in Shaping Brand Perception and Consumer Engagement in the Beauty Industry," SAGE Open, , vol. 15(3), pages 21582440251, August.
    7. Ally, Zawadi, 2024. "Sustainability and Financial Performance in Tanzanian Banks: Examining the Role of Environmental, Social, and Governance Factors and Influence of Digital Transformation," African Journal of Economic Review, African Journal of Economic Review, vol. 12(4).

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