GRi Business, Economics & Finance 25 - 09 - 2003
Board of Biriwa Community Bank replaced with IMC
Government approves HIPC funds to districts
Board of Biriwa Community Bank replaced with IMC
Biriwa (Central Region) 25 September 2003 - The dissolution of the Board of the Biriwa Community Bank by the Bank of Ghana (BOG) is not the result of embezzlement or insolvency, the Reverend George Mills-Graves, Chairman of the Interim Management Committee (IMC), has said.
Speaking at Biriwa yesterday, he said it was part of measures to streamline the administration of the Community Bank and urged customers and shareholders to disregard rumours that the financial institution was facing liquidity problems.
He stressed the determination of the BOG to make the Community Bank one of the best in country and assured customers of the safety of their investment and deposits saying, "Your monies are in safe hands".
Rev Mills-graves explained that the measure by the Central Bank would inject additional capital into the bank through prudent banking practices.
The IMC Chairman expressed concern about the poor loan recovery of the bank and appealed to defaulters to settle their debts to avoid embarrassment. He said stringent measures including prosecution would be instituted to recover outstanding loans.
The IMC Chairman commended the African Development Foundation (ADF) and UNDP
Micro-Start for investing in the bank's micro financing programme. He gave the
assurance that the IMC would ensure proper accountability of investment in the
bank.
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Government approves HIPC funds to districts
Apam (Central Region) 25 September 2003 - The government has approved 1.4bn cedis to each district assembly under the HIPC Initiative for development projects this year.
Kwadwo Adjei-Darko, Minister of Local Government and Rural Development, said since the government adopted the Initiative, the Gomoa District Assembly has benefited from the provision of educational, health, sanitation and portable water facilities.
These were contained in a speech read on his behalf by the Deputy Minister of Local Government and Rural Development, Alhaji Issah Ketekewu, at the annual Akwambo Festival of the chiefs and people of Apam in the Central Region. He said development was shared responsibility of the government, local authorities and the people who were the ultimate beneficiaries.
The Minister said the authorities recognised chiefs as both traditional authorities and partners in development and assured them of support to provide the required leadership for local and district development. He asked development traditional rulers to educate their people on environmental management to maintain a high standard of living.
Mr Ishaque Essilfie, Special Assistant to the Central Regional Minister, urged the people to take advantage of the President's Special Initiative on Cassava and the National Health Insurance Scheme to improve their incomes and health status. Mrs Ama Benyiwa-Doe, MP for Gomoa West, appealed to the government to ensure the rehabilitation of the Apam streets.
Miss Joyce Mildred Aidoo, District Chief Executive (DCE), expressed concern
about the poor recovery of loans under the Poverty Alleviation Programme with
about 600m cedis in arrears at the Akyempim Rural Bank, at Dawurampong, alone.
The DCE enumerated a number of projects executed by the government in the
district.
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