By Mildred Siabi-Mensah
Shama (W/R), Sept. 4, GNA – The Management of the Lower Pra Rural Bank have been advised to increase financial education in its catchment area in order to get more rural communities on board.
Mr Kwabena Okyere Darko-Mensah, the Western Regional Minister, said financial literacy among operational communities would not only make them informed and empowered to take sound decisions, but would also make the Lower Pra Rural Bank the first port of call for any business transactions.
“I believe investing in rural financial literacy programmes was key to breaking rural poverty and help you as a bank to increase clients base, which might eventually change your fortunes and stature”.
The Western Regional Minister said this at the bank’s 40th Anniversary celebration on the theme: “Effectiveness of Lower Pra in Rural Banking for Community Development.”
The bank, incorporated in Ghana on January 20, 1983, has delivered on its mission of using effective management tools to innovate customised products to customers, which made it to gain substantial market share and expand its reach.
Over the last forty years, the bank had grown in human resources, branches and market share reflecting in positive business outlook in all financial indicators.
The Minister, who was full of praise for the significant achievement, urged the staff to continue to dedicate themselves to the work, adding: “Do your work well and create opportunities for yourselves and the generation ahead of you…endless possibilities abound”.
Mr Curtis Brantuo, the Deputy Managing Director, ARB Apex Bank, noted the relevant role the bank had played in community development.
“Indeed, for many years now, Lower Pra Rural Bank has become a shining light in the rural banking industry.”
The bank had been efficiently run and remained profitable even in the face of the many economic challenges confronting the nation and businesses.
He commended the management, directors and shareholders for maintaining the right structures and efficient strategies to grow and become sustainable.
Reflecting on the 40 years and the way forward, the Deputy Director pledged the ARB Apex Bank support to Lower Pra and other RCBS through the provision of guidance and direction to ensure the appropriate risk and compliance structures were in place.
This would ensure our banks continue to perform to the benefit of the esteemed shareholders and communities in which they operate.
The bank, Mr Brantuo noted, was working very hard to actualise its agency, mobile, and internet banking project to ease the pressure on banks and provide the needed convenience to its customers.
Mr Kwamena Afful, the Chief Executive Officer of the Bank, said formally knownas Essemaman Rural Bank, the Bank had jumped many obstacles to achieve its current enviable space in rural banking in Ghana.
He paid glowing tribute to the pioneering staff, Board of Directors and the three promoters for birthing such a great vision to improve upon the lives of the people in the District and beyond.
The Bank currently has over 17 branches and mobilisation centres, with a staff strength of 408, providing financial solutions to customers.
Ms Felicia Aba, the Board Chairperson, said it had grown from a small savings and loans into an admirable rural bank.
She said the bank’s financial tentacles covered substantial portions of the southern part of the Western Region.
The Board Chairperson referred to the many social investment projects for the communities, adding, “As we commemorates 40 years of existence…we hope to adopt more modern and time-tested skills and strategies to maintain the banks accolade; the Bank of Choice “.
Some staff members received awards – cash amounts and deep freezers – for their dedicated service.
A 40-year anniversary cake was cut and a thanksgiving service conducted to climax the week-long anniversary, which saw donations to special schools, quiz competition, health walk and various games.
GNA