The Government has been urged to review payment for cocoa purchases with spot cash by private cocoa buying companies.

This is because the current system is affecting the revenue mobilisation of rural banks, especially those in the major cocoa growing areas .

Nana Abraham Kwadwo Bonnah, Chairman of the Board of Directors of Amanano Rural Bank, said most of the farmers

fail to send their money to the banks which deprives the banks of their one per cent commission on cocoa purchased through the Akuafo Cheque system.

At the 13th annual general meeting of shareholders of the bank at Nyinahin in the Atwima district of Ashanti region, Nana Bonnah appealed to the government to review cocoa purchases through the Akuafo Cheque system to make it compulsory for all private cocoa buying companies to use the Akuafo Cheque.

The bank made a profit of 64 million cedis last year as compared to 50 Million cedis in 1996 and 18 million cedis in 1995 while it invested 930 Million cedis in treasury bills.

Nana Bonnah said the bank granted loans totalling 342 million cedis out of which 222 million cedis went to workers, 40 million cedis to traders, 18 million cedis to transport owners and 62 million cedis for the support of agriculture