GRi BEF News Ghana 19 - 12 - 2000
BOG completes arrangements for Apex Bank
CEPS personnel honoured for hard work
BOG completes arrangements for Apex Bank
Asokore (Ashanti Region)) 19 December 2000
The Bank of Ghana (BOG) has completed negotiations with donor agencies for the establishment of the proposed Apex Bank in Accra to provide technical and managerial support to rural banks.
Rural banks would be expected to subscribe to the equity of Apex, which would be under a board of directors and seasoned bankers.
Mr. J.B. Clottey, Deputy Head of the Banking Supervision Department of the BOG, announced this at the 11th annual general meeting of shareholders of the Asokore Rural Bank at Asokore at the weekend.
He said BOG is determined to address the issue of the proliferation of rural Banks without due consideration to their financial capacity.
This, he said compromises their efficiency and makes them susceptible to all forms of malpractice, stressing that management and boards of rural banks should adhere strictly to laid-down guidelines for expansion of agencies and mobilisation centres.
"Rural banks are not expected to open agencies at areas exceeding 40 kilometres radius from their head-office and this must be complied with by all rural banks to avoid any sanctions".
Colonel P.K. Agyekum (rtd), Chairman of the Board of Directors, said the bank has improved its finances from a deficit of 60.8 million cedis in 1994, to a profit of 31 million cedis within five years.
He, however, regretted that shares purchased stand at 16.7 million cedis as against the BOG statutory requirement of 30 million cedis representing a shortfall of 13.3 million cedis and reiterated his appeal to shareholders to increase their shareholdings.
He said the bank has been selected to participate in the IFAD loans scheme to identifiable groups and agricultural co-operatives on revolving basis.
Col Agyekum said under the scheme, the Bank has already granted 35 million cedis to five co-operatives.
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CEPS personnel honoured for hard work
Dzodze (Volta Region) 19 December 2000
Mr. Sampson Hammond, Deputy Commissioner in- charge of Finance and Administration of the Customs, Excise and Preventive Service (CEPS) said the modernised import-export clearance procedures introduced by the Ghana Gateway Project has re-defined the CEPS role as a trade facilitator and revenue collector.
The introduction of the World Trade Organisation (WTO) valuation and destination scheme, the Green and Red Channels, scanners, the Ghana Management Systems (GCMS) and the Ghana Country Trade Network (GCNET), he said are major initiatives which place the Service in a world class customs arena.
Speaking at Dzodze at the annual awards night of Aflao sector of CEPS at the weekend, Mr Hammond called on the personnel not to undermine efforts to achieve its revenue collection target.
Though there is a general improvement in discipline in the service, he said there are still a few bad nuts whose acts jeopardise the total commitment needed for improved revenue collection.
He asked the personnel to reciprocate the incentive package granted by government by increasing their effort at revenue mobilisation.
Mr. Nelson Kwame Yeboah, Assistant commissioner in charge of the Aflao Command said despite numerous problems the sector is on course to collect far above the billion cedi revenue target by close of the year.
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