Rural banking in Ghana said to be essential in fight against poverty

Mr Daniel Dagba, the Municipal Chief Executive for Akatsi South, says Rural banking remains an essential tool in the fight against poverty.

He said, “Access to finance gives people opportunities.” 

“Loans help farmers to buy tools and increase productivity. Young entrepreneurs can innovate with start-up capital, and a safe place for market women to save their earnings to improve financial security.” 

Mr Dagba gave these remarks in an address during the 42nd Annual General Meeting of Avenor Rural Bank Plc at Akatsi on Saturday, August 16.

He said the intermediation helped boost the local and national economy, and that, the focus of Avenor Rural Bank on good financial management and community support should be commended. 

Mr Dagba, however, cautioned that the world was changing rapidly, and urged the Bank to embrace digital banking, improve risk management, and expand its services to stay relevant.

He said the Bank, over the past 40 years, had been more than a bank that had helped traders, farmers, artisans, teachers, and small business owners in the Municipality and beyond. 

“You have played a key role in promoting financial inclusion and helping people improve their lives. By providing banking services, granting loans, encouraging saving, and supporting local projects, you have made a real difference,” he said. 

Mr Dagba said the meeting was a testament to the enduring partnership between the financial sector and the local government in driving the socio-economic growth of the area. 

“Mr. Chairman, it is my understanding that meetings like this are used to take stock of the past year’s performance, assess the challenges, share successes, and plan for a better future. This is a principle that resonates deeply with the work of the Municipal Assembly.”

On their part, Mr Dagba explained that his call to lead was entrusted with the responsibility of accounting for our stewardship, building confidence in the people we serve, and charting a course for sustainable development. 

He commended the bank for its continuous support of the assembly’s local programmes and events such as Farmers’ Day and World AIDS Day and several others.  

“Mr. Chairman, the Assembly sees the Bank as a partner. Together, we can improve market infrastructure, support agribusiness, create jobs for youth, and ensure fair access to financial services. I encourage the Board and Management to focus on helping small-scale farmers, women-led businesses, and young innovators.”

Mr Dagba said the focus would boost business success as well as help to reduce poverty, and assured that the Assembly remained committed to helping businesses succeed. 

He commended all shareholders, Management, and staff for their loyalty and support in the view of helping the Bank to grow and overcome its challenges. 

Mr Dagba also reminded the bank that  growth was not only profits but also included transforming lives, building businesses, educating children, and empowering communities. 

The Avenor Rural Bank Plc with its headquarters at Akatsi in the Akatsi South Municipality of the Volta Region has been ranked 43rd among a total of 127 Rural Banks assessed across the country under the 2024 performance review.

This was disclosed by Mr Thomas Clarkson Adade, Board Chairman of the Bank in a report presented during the event that was Held at Letsa Korba Hall of the Akatsi College of Education.

Source: GNA

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