Brakwa Bank commemorates 40th anniversary with awards  

By J.K. Nabary 

Brakwa (C/R), Jan. 07, GNA-The Board Chairman of Brakwa Breman Rural Bank (BBRB), Mr Alexander Koomson, has expressed gratitude to the founders, dedicated staff, loyal customers and the community for their trust and support driving the Bank’s success story. 

He was speaking at a durbar to commemorate the celebration of the Bank’s 40th Anniversary at its head office at Brakwa,  a community in the Asikuma-Odoben-Brakwa (AOB) District of the Central Region. 

 The event was an opportunity for the management of the bank to reaffirm its commitment to its guiding principles of integrity, transparency, and dedication to meet the financial desires of its community. 

A total of 50 persons, including promoters, founders, women in development groups who started the bank, ex-directors and the Chief Executive Officer with largest deposit and shares with the bank were awarded at the events for their immense contribution to the success story.  

Mr Koomson stated that while celebrating the 40th Anniversary, they must recommit themselves to the ideals which defined them as a Rural Bank and forge ahead with confidence into a future filled with promise and prosperity. 

He said 40 years ago, a group of visionaries came together to mobilise finances with the aim of empowering their community and amidst challenges, laid the foundation, which had become a beacon of hope and support for their people. 

Mr Koomson named the promoters of the bank as Mr Emmanuel Kingsley Aye Obeng (Snr), Mr Peter P. Kofi Fosu, Mr Emmanuel Stephen Brakye, Mr Johnson Ofori, Madam Mercy Fuah all of blessed memory. 

He said they mobilised shares throughout the AOB District and beyond after mooting the idea to establish a Rural Bank. 

According to him starting from the early 1980s, the required total share capital base of GHc12.50, in current terms (C125, 000.00) was raised. 

He informed the gathering that Brakwa Breman Rural Bank was granted Business Commencement Certificate on August 4, 1983, by Bank of Ghana and the Registrar Generals Department. 

“We are happy to have one of the pioneering working team members of the bank, Nana Osafori III, the current Odikro of Brakwa (formerly known as Mr Solomon Kofi Dede), here.” 

“He collaborated so dutifully with the late Emmanuel Kingsley Aye Obeng (Snr), in shares mobilization efforts during the set up of the Bank,” he stated. 

Mr Koomson further noted that over the years, they had weathered economic storms, embraced technological advancement, and adapted to the changing regulatory landscape to provide their customers good financial services which have catalysed growth, uplifted livelihoods, and built a stronger, more resilient community. 

On achievements, he said their prudent financial management, unwavering commitment to customer service and community-centric approach have set them apart to flourish and expand their reach and impact. 

On finances of the Bank, Mr Koomson announced that in 2019, the bank’s net profit before tax was 42,076.00, GHc101,977.00 in 2020, GHc363,580.00 in 2021 and GHc421,276.00 in 2022. 

By November ending 2023, the net profit before tax stood at GHc1,100,000.00. 

“We have a vision in future where our bank will play a pivotal role in sustainable development, fostering entrepreneurship and contributing to the overall well-being of our community and beyond as we envisage to have our presence at places like Kasoa, Akim Oda and Mankessim,” he added. 

 Mr Felix Dompreh, the Chief Executive Officer of the Bank stated in his address that he was filled with profound sense of pride as he reflected on the journey that had brought them to that significant point. 

He expressed gratitude to all the customers, stakeholders and community members who had been instrumental in the bank’s success saying their trust and support were the driving force behind their achievements and they were grateful for their partnership. 

The President of Rural Banks Association was among others who presented their solidarity messages to the bank.  

Later a cake was cut to symbolise the celebration.