By Agbaxode Emmanuel, GNA
Akatsi (V/R), Nov. 01, GNA – Avenor Community Bank PLC has reaffirmed its commitment to supporting small businesses, farmers, traders and entrepreneurs as part of efforts to stimulate economic growth and improve livelihoods within its operational communities.
The bank said its future strategy would place greater emphasis on financing local economic activities, strengthening its capital base, embracing technology, and improving service delivery to meet the evolving needs of customers.
Mr Thomas Clarkson Adade, Board Chairman of the bank, gave the assurance during the commissioning of the bank’s new head office at Akatsi on Saturday, October 31.
He said the institution remained committed to its community banking mandate and would continue to support businesses and individuals whose activities contributed to local economic development.
Mr Adade said the new facility would provide a more conducive working environment and enhance the bank’s capacity to deliver efficient and customer-centred services.
He noted, however, that the bank required a stronger capital base to sustain operations, take advantage of emerging opportunities, and meet regulatory requirements.
According to him, the Bank of Ghana’s directive requiring community banks to increase their stated capital from GH¢1 million to GH¢5 million by December 2026 remained a key challenge, and the bank was working towards meeting the requirement.
Mr Adade, therefore, appealed to shareholders and other stakeholders to acquire additional shares to strengthen the bank’s financial position and support its future growth.
Mr Daniel Dagba, Municipal Chief Executive for Akatsi South, urged the bank to deepen its support for farmers, traders, artisans, small and medium-sized enterprises, as well as young entrepreneurs.
He also encouraged the institution to complement its financial services with corporate social responsibility initiatives in education, healthcare, agriculture, and skills development.
Mr Dagba called on residents to patronise the bank and cultivate a savings culture, noting that local financial institutions played a critical role in mobilising resources for community development.
Togbe Dorglo Anumah VI, Paramount Chief of the Avenor Traditional Area, commended the bank for its contribution to the socio-economic development of the area and assured it of the Traditional Council’s support.
He urged the people of Avenor to demonstrate stronger commitment to businesses and institutions capable of creating opportunities and promoting development within the traditional area.
Avenor Community Bank PLC, formerly Avenor Rural Bank Limited, commenced operations on May 27, 1981, and has since expanded its presence through branches across parts of the Volta region.
GNA
Edited by Maxwell Awumah/Lydia Kukua Asamoah