Rural and community banks come together to strategize on industry performance

Kwame Owusu Sekyere, Acting President, Association of Rural Banks, Ghana

The Association of Rural Banks, Chief Executive Officers (CEOs) and Directors of Rural and Community Banks gather in Koforidua for the 22nd Biennial General Meeting (BGM) and 4th Rural Banking Excellence Awards.

The event, scheduled for November 7-19, will be held under the theme: “The Role of Rural Banks: Developing Resilient BCRs in the Contemporary Ghanaian Economy”.

The objective is to examine the performance and activities of the association’s main stakeholders, as well as other developments within the rural banking sector.

It also involves electing new board members to direct the affairs of the association for the next two years.

Dignitaries

This year’s event will be graced by the Governor of the Bank of Ghana, Dr Ernest Addison, who is expected to make a regulatory statement and address regulatory issues such as compliance with the new corporate governance directive for all rural banks.

Knowledgeable and experienced industry players including ARB Apex Bank Chairman of the Board, Dr Toni Aubynn; ARB Apex Bank Managing Director Alex Kwesi Awuah and Eastern Regional Minister Seth Kwame Acheampong, among others, are also expected to comment on governance and operations regarding industry events.

The Acting National Chairman of the Association of Rural Banks, Kwame Owusu Sekyere, will speak on issues relating to the management of various rural and community banks, including funds blocked with the Securities and Exchange Commission (SEC); the need for rural banks to have sufficient capital to serve as a buffer to cushion losses arising from credit and operational risk, among others.

Importance of BCRs

Rural and Community Banks (RCBs) play a major role in ensuring that the Bank of Ghana’s National Financial Inclusion and Development Strategy is achieved.


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Since they are in the communities, their products and services are adapted to integrate everyone.

They also essentially contribute to the economic development of the country as they support micro, small and medium enterprises, especially in the rural areas of the country.

This leading role leads to financial inclusion, poverty reduction and helps bridge the gap between urban areas and the rural economy.

Background

The Association of Rural Banks is the apex body of all rural and community banks in Ghana.

It has over 147 rural and community banks with over 850 branch networks offering banking services across the country.

The RCBs have 6.5 million customers, employing more than 15,000 permanent employees.

The association supports and promotes advocacy programs to impact the development of agriculture, trade and the growth of micro-medium and small enterprises in rural communities.

The association, however, is working closely with ARB Apex Bank to achieve the industry goal.

About Keneth T. Graves

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