Business enterprise News of Wednesday, 1 January 2020
Mr Kojo Mattah, Running Director (MD) of the Association of Rural Banking institutions (ARB) Apex Lender Limited, on Tuesday, stated the Rural/Community Banking institutions (RCBs) sub-sector could not afford to pay for to fail Ghana’s rural financial system.
This, he stated, was since the 144 RCBs with more than 850 department spots and agencies, have been the livewire of the rural overall economy.
Mr Mattah made the observation in an address read for him by Mr Reuben Adamtey, Supervisor of the Sunyani department of the ARB Apex Lender, at the 31st Once-a-year Basic Meeting of shareholders of the Asutifi Rural Financial institution at Acherensua in the Asutifi South District of the Ahafo Location at the weekend.
“We cannot afford to pay for to do much less, mainly because the uniqueness of our places offers us a comparative gain in excess of the other financial institutions. Allow us continue to keep pushing ourselves so that there would come a time when anytime the name of an RCB is mentioned, all the other money sector gamers would commence to catch cold,” he pointed out.
The MD recounted the new banking sector crisis, and created it clear that RCBs cannot proceed to operate in silos.
“We ought to occur together to develop a quite potent and positive image for the RCBs simply because that is the only way we can keep on to develop jointly as a family, with endearing values and shared destinies.”
Mr Mattah gave the assurance that the ARB Apex Lender would always stand completely ready to direct collective endeavours “to boost our picture and improve our sector for the teeming shareholders.
Touching on regulating problems, the MD reminded RCBs that the deadline for the notice on “compliance with the bare minimum paid-up funds for RCBs and Microfinance Institutions” was February 28, 2020, and hence urged shareholders of the Asutifi Rural Bank to get additional and additional shares to empower the bank fulfill the demanded minimum amount paid-up capital of a single million Ghana Cedis.
He encouraged mortgage defaulters to spend their debts to the banks so that the pool could be expanded to get to other debtors with no always passing on the charge of default to other customers, so major to large lending fees.
“The a lot more the non-doing mortgage guides of the banking companies retain increasing owing to non-payment of amenities, the bigger the likelihood of the value of default remaining handed on to other debtors. Enable us, thus, repay our financial loans and also in time to help the banking institutions improve their mortgage portfolios.”
Mr Kofi Agyemang, President of the Brong-Ahafo Chapter of ARB counseled the Board of Directors and employees of the Asutifi Rural Financial institution for their commitment and dedication to duty, and urged them not to be complacent, but to put in additional attempts to grow the bank.
He encouraged staff members of the financial institution to accord customers the necessary regard during their business transactions.
Nana Antwi Kesse Basahyia, Nifahene of the Acherensua Traditional Council who deputized for the Omanhene, Agyewodin Professor Adu-Gyamfi Ampem, urged the shareholders to rally solidly driving the lender to be certain its accelerated progress.
Mr Nicholas Efferh, Deputy Co-ordinating Director of the Asutifi South District Assembly, mentioned the authorities would continue to protect the interests of money and other establishments to assistance create the nationwide economic climate.
Alhaji Collins Dauda, Member of Parliament for Asutifi South, urged shareholders and consumers of the lender to carry on to set their believe in and faith in the financial institution, to help it to reside up to expectation.
Mr Kofi Bonsu Boakye-Boateng, Deputy Brong-Ahafo Regional Minister in the Rawlings Regime, the bank’s shareholder with the maximum range of shares, was with each other with seven other folks, were being honoured for their zeal and perseverance at positioning the Asutifi Rural Bank on a audio financial footing.
Mr Anthony Yaw Oppong, Chairman of the Board of Directors of the bank, was ready to move down mainly because his expression of business was to expire at the close of the 12 months. But in a unanimous decision by Management and shareholders, Mr Oppong was asked to keep and keep on with his visionary leadership to shift the lender ahead.