The ARB Apex Bank has held its 23rd Chief Executives Conference with a number of pleas and proposals to government. Board Chairman of the Bank Dr Anthony Aubynn proposed that rural banks be prioritized as primary beneficiaries of government financial assistance aimed at uplifting rural economies. He said government must consider providing a one-time concessionary loan to RCBs, which would empower them to lend to small businesses.

Dr Aubynn, whose address did not skip the Domestic Debt Exchange Program DDEP noted that as the country continues to navigate economic recovery in the post-DDEP era, the role of rural and community banks will be central to financial inclusion and rural development.

Deputy Governor of the Bank of Ghana Elsie Addo Awadzi who was represented by the Head, other financial institutions and supervision at the bank Yaw Sarpong said the operations of rural banks must be made more customer centric. Mrs Awadzi said placing the customer at the centre of operations is key to the long- term success of rural banks.

She mentioned personalized service, actively listening to customer feedback, and ensuring that financial solutions are accessible and beneficial as some critical areas RCBs should look at. The Bank of Ghana in this regard would encourage RCBs to focus on local outreach since they have a unique mandate to serve the unbanked and underserved populations within their localities.

Managing Director of ARB Apex Bank, Alex Kwasi Awuah, said the new frontier of revolutionizing financial intermediation is through the establishment of robust digital banking platforms.

He said the long-awaited Financial Sector Development Project (FSDP), which was sponsored by the Government of Ghana and the World Bank, has crystallised, making the digital banking platforms of the rural banking industry now operational. Mr Awuah added that by signing onto the special USSD code *992#, rural banking customers can perform a host of banking services, including withdrawal of funds, transfer of funds, bill payments, and making account statement and cheque requests, amongst others.

He also announced that the RCB Mobile Banking App is now ready to be deployed. The four-day conference will treat topics such as increasing debt mobilization, RCBs loan products, and ensuring affordable product pricing.

Positioning Rural Banking at the Centre of the National Financial Inclusion Agenda was the focus of the 23rd Chief Executives Conference.

Source: https://www.gbcghanaonline.com/