The Paramount Chief of Wassa Amenfi Traditional Area in the Western Region, Tetrete Okuamoah Sekyim II, has charged the Government to channel the District Assemblies Common Fund (DACF) through the Rural and Community Banks (RCBs).

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CHANNEL FUNDS THROUGH RURAL BANKS

The Paramount Chief of Wassa Amenfi Traditional Area in the Western Region, Tetrete Okuamoah Sekyim II, has charged the Government to channel the District Assemblies Common Fund (DACF) through the Rural and Community Banks (RCBs).

The Paramount Chief of Wassa Amenfi Traditional Area in the Western Region, Tetrete Okuamoah Sekyim II, has charged the Government to channel the District Assemblies Common Fund (DACF) through the Rural and Community Banks (RCBs).

According to Tetrete Okuamoah Sekyim II, the RCBs play a very vital role in the economic development of the country, due to the proximity of these banks to the rural folks in the country.

Speaking during a courtesy call on him at his palace in Wassa Akropong by the Managing Director of the ARB Apex Bank, Mr Kojo Mattah, and the Board of Directors of Amenfiman Rural Bank, Tetrete Sekyim II said, almost all economic activities in the rural communities are supported by the RCBs as the commercial banks find it unattractive to venture into the deprived communities.

He said, “commercial banks are risk averse and are not willing to support business activities in the rural areas and this means there is a strong case for Government to channel the DACF and other Government funds through the RCBs”.

“These banks, particularly Amenfiman Rural Bank, which is the largest RCB in the country, have proven over the years that they are the true agents of economic development and key to financial inclusion. They have been doing well despite the fact that they have not received direct support from the Government”, he stressed.

He urged the ARB Apex Bank to use its position as the ‘mini’ regulatory bank for the RCBs to champion the advocacy for Government to channel the DACF and other Government funds for regional development through the RCBs.    

He said the Wassa Amenfi Traditional Council has given its full support to Rural and Community Banking and that was why, “you can see that the Head Office of Amenfiman Rural Bank is located right opposite the Palace”.

Tetrete Sekyim II, who was full of praise for the Board of Directors and Management of Amenfiman Rural Bank, thanked the Board of Directors of the Bank for bringing the Managing Director of the ARB Apex Bank to pay a courtesy call on him.

On his part, Mr. Mattah observed that, “what we have seen so far is that the Amenfiman Rural Bank is in safe hands.”

He pledged his full support for the Bank and expressed his endorsement for the in-house Human Resource Development programme developed by the Bank to train and retain a high calibre Human Resource pool for the Bank.

“The success of the nation depends on the people. The same way the success of the organisation depends on the its staff”, he said, adding, “that is why I commend the Amenfiman Talent Academy Programme (A-TaP), which has trained 18 staff of the Bank in a two-year accelerated development programme.

Mr Mattah pleaded with the Board of Directors of Amenfiman Rural Bank to allow the ARB Apex Bank to share the novel Human Resource Development concept with other RCBs in the country.

He said he was happy that the Traditional Council has accepted Amenfiman Rural Bank and thanked Tetrete Sekyim II and his kinsmen for welcoming him to his palace.

Dr Tony Aubynn, Chairman of the Board of Directors of Amenfiman Rural Bank, who led the delegation to the Palace pleaded with the ARB Apex Bank to do all within its capacity to support all model programmes of the Bank.

He said Amenfiman Rural Bank was leading the way as the largest and most profitable RCB in the country and was happy to be the pioneer of the in-house talent development programme.

Amenfiman Rural Bank, which was founded in 1980 is headquartered at Wassa-Akropong in the Western Region. The Bank posted a profit before tax of GH¢9 million in the 2016 financial year and currently has the largest branch network amongst the RCBs.

It currently has a total of 16 branches with 13 in the Western Region, two in Ashanti Region and one in the Central Region.