The Sonzele Rural Bank PLC, which is a beacon of financial stability and growth in Ghana’s rural banking sector, has achieved remarkable success in the past year.
As the bank marks its 40th anniversary, Management has been admonished not to lose sight of the unrelenting changes that the World is facing in technological advancement.
Naa Prof. Bruce Banoeng–Yakubo, former Chief Director at the Ministry of Lands and Natural Resources, said the digital economy and climate change have an impact on financial services throughout the world and, therefore, management should continue to embrace technology and deepen financial inclusion.
“As we move forward, I urge everyone here, the staff, partners of Sonzele Rural Bank PLC, and all Community members to remain committed and steadfast to the values that have defined Sonzele Rural Bank for 40-years,” Naa Prof Bruce urged.
Naa Prof. Bruce Banoeng–Yakubo gave the advice as he addressed the gathering as Special Guest of Honour at the bank’s 40 Anniversary celebration at Jirapa on Saturday, September 21, 2024, on the theme: “40 years of Banking Excellence, The Sonzele Story.”
The Sonzele Rural Bank PLC, which has its headquarters at Jirapa in the Upper West Region, was incorporated in 1980 and granted licence to operate the Business of Banking by the Bank of Ghana on the 24th of November, 1983. It was established to offer financial intermediation to the people within its catchment area through effective fund mobilization, fund management and the provision of sound credit.
The bank has delivered on its mission of providing accessible, reliable, and customer-centred banking services that foster economic growth and aid social development. It has, over the last forty years, recorded growth in branches, human resources, and market share, reflecting in a positive business outlook in all financial indicators.
The Managing Director of ARB Apex Bank, Alex Kwasi Awuah, in a speech read on his behalf by the head of Banking, Mark Odoi Adjei, noted the relevant role the bank had played in community development since its establishment in 1984.
According to him, the bank has demonstrated remarkable resilience, adaptability, and dedication to serving the unbanked and underbanked populations in rural communities.
“Today, we celebrate not only the bank’s longevity but also its profound impact on the lives of countless individuals, businesses, and communities. Your bank has provided access to financial services, empowered entrepreneurs, and contributed significantly to the economic growth of this region,” he said.
Alex Kwasi Awuah further commended the Sonzele Rural Bank for pioneering innovative financial products and services including; a user-friendly mobile banking application, personalized financial planning tools, contactless payment solutions, and eco-friendly investment options among others.
“These advancements demonstrate Sonzele Rural Bank’s commitment to customer-centricity, innovation, and community development, solidifying its position as a leading financial institution in the Region,” Alex mentioned.
During an introspection on the 40 years and the way forward, the Board Chairman of Sonzele Rural Bank PLC, Micheal Zusain, indicated that the bank, which could not break even in the 1980s through to 1990s in terms of profitability, is now rated among the top ten (10) rural and community banks in the Country.
“As we look to the future, our strategic direction will focus on; Digital transformation, product innovation, community empowerment, and operation excellence which involves enhancing our risk management, governance, and sustainability practices,” he promised.
The Board Chairman, Micheal Zusain disclosed that as part of the activities to mark the anniversary celebrations, the bank had engaged with duty bearers in the education service and other major stakeholders and decided to put up a three-unit classroom block in the Jirapa municipality to enhance teaching and learning as part of its corporate social responsibility.
Paramount Chief of Jirapa, Naa Dinaa Donglabong Ganaa III, who chaired the ceremony in his acceptance speech, praised Sonzele Rural Bank PLC for the significant achievement and innovations it has brought to the financial sector over the years.
Some staff members received awards for their dedicated service and commitment to their work.
Story By Ibrahim A. Wangara|3news.com|Ghana
The post Upper West Region: Sonzele Rural Bank PLC celebrates 40 years of impactful banking first appeared on 3News.
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