CUA mobilises 40 billion
cedis in savings
BOG committed to efficient rural bank
CUA mobilises 40
billion cedis in savings.
Takoradi (Western Region) 23
October 2000
The Credit Union Association (CUA)
has mobilised savings of up to 40 billion cedis, out of which 30 billion cedis
have been given out as loans to its members.
Mrs. Esther Lily Nkansah Western
Regional Minister announced this in an address read on her behalf at the
International Credit Union Day celebration at Takoradi, at the weekend.
She said the unique role of the
credit union movement in the financial market is a welcome development as the
traditional banks are now moving away from granting credit to individuals.
Mrs. Nkansah urged the union to
move into the rural areas, mobilise savings from the people and provide them
with credit to expand their businesses.
She advised the unions to increase
their income through "a human face" approach to credit delivery.
There are 24 credit unions in the Western Region with 5,929 members.
In a welcoming address, Mrs. Aba
Smith, First National Vice Chairperson of CUA said this year alone savings mobilised as at June, amounted to 3.255
billion cedis, out of which 2.124 billion cedis had been given out as loans to
members.
Mrs. Smith said this indicates
that the credit unions are making considerable contribution towards poverty
alleviation.
GRi…/
BOG committed to efficient rural bank
Mamfe-Akwapim (Eastern Region) 23 October 2000
The Bank of Ghana (BOG) is committed to ensuring the development and growth of efficient rural/community banks as an integral part of a vibrant banking system.
It will also continue to adopt policies and implement programmes aimed at restructuring the institutional framework, promoting human resources capacity building, and sourcing on-lending facilities to strengthen and provide constant supervision to ensure sound banking practices and improvement on internal control measures.
Mr. Joseph. B Clottey, Deputy Head of the Supervision Division of BOG, said these at the 19th Annual General Meeting of shareholders of the Akwapim Rural Bank Limited at Mamfe-Akwapim on Saturday.
The meeting also coincided with the official opening of a new office building complex of the bank estimated at 455 million cedis.
Mr. Clottey stressed the need for boards and management of rural banks to adopt selfless policies to minimise waste and fraud and pledged that the bank would continue to give them advice on the realisation of these objectives.
He noted that the performance of the Akwapim Rural Bank has been encouraging and, as a result, rated among the top class of rural banks in the country.
He expressed the hope that the bank would not be complacent with these achievements but would explore more avenues to enable it to grow to provide efficient banking services to the community.
Mr. Clottey commended rural banks in the country for their performance in spite of the economic situation over the past year.
According to him, as at June 30, this year, total deposits of the rural banks stood at 181.09 billion cedis.
The Chairperson of the Board of Director of the bank, Dr. (Mrs.) Gloria Nikoi, said the bank made a net profit of 197.65 million cedis last year while the total income of the bank amounted to 755.35 million cedis.
Total gross funds mobilised amounted to 10.6664.88 billion cedis with total deposits of 2.484.90 billion cedis.
Mrs. Nikoi said a total of 852 million cedis was granted as loans and advances to customers while total investment rose to 1,443.24 billion cedis.
She said the bank has disbursed a total of 348 million cedis as the poverty alleviation funds for the Akwapim North and Akwapim South District Assemblies.
The Chairperson said the bank would continue to intensify its mobilisation drive, banking-on-wheels programme, women-in-development programmes and the students saving scheme.
She said the bank would continue to devote its 10 per cent pre-tax profit to support health centres and vocational institutions in the area.
GRi…/