ARB Apex Bank Boss urges RCBs to accelerate digital infrastructure to strengthen competitiveness, inclusion

The Managing Director of ARB Apex Bank, Mr. Alex Kwasi Awuah, has emphasized the urgent need for Rural and Community Banks (RCBs) to modernize their digital infrastructure to remain competitive and resilient in Ghana’s rapidly evolving financial landscape.

Speaking at the 24th Annual National Conference of RCB CEOs in Takoradi, under the theme “Bridging the Gap: Empowering Rural Banking in a Digital Economy,” Mr. Awuah said digital transformation is no longer optional but a core driver of operational sustainability, risk management, and inclusive banking. The conference brought together leaders from all 147 RCBs across the country to discuss sectoral reforms, digital strategy alignment, and collaborative initiatives.

Mr. Awuah urged RCBs to move beyond traditional banking models and adopt technology-driven platforms such as Agency Banking, Mobile Banking, and Internet Banking to expand rural financial inclusion and improve competitiveness. “Digital financial inclusion is a game of scale and reach. The more individuals and MSMEs we onboard through tech-enabled platforms, the stronger and more sustainable our banking model becomes,” he noted. He highlighted the importance of a phased digital transformation roadmap encompassing infrastructure upgrades, system interoperability, cybersecurity, and data analytics to enhance operational efficiency and drive growth.

Sharing sector performance data as of June 2025, Mr. Awuah revealed that total assets of RCBs stood at GHS 21.2 billion while customer deposits reached GHS 18.2 billion. Profit before tax grew to GHS 783 million, representing a 117 percent increase from GHS 361 million in June 2024. The Capital Adequacy Ratio improved from 9.85 percent in December 2023 to 18.35 percent, exceeding regulatory requirements. While praising these achievements, he cautioned that sustaining growth will require scaling digital operations, improving efficiency, and strengthening risk management frameworks.

In a presentation on behalf of the Bank of Ghana, Mercy Amoah Benin, Deputy Director of Financial Institutions Supervision, highlighted the growing integration between FinTechs and traditional banks. She stressed that RCBs can now leverage licensed Payment Service Providers and FinTech APIs to deploy scalable solutions such as digital wallets, real-time payments, and remote KYC onboarding without investing in costly proprietary systems.

Alhaji Hayatudeen Awudu Ibrahim, President of the RCB CEOs Group, commended the Ministry of Finance and Bank of Ghana for creating an inclusive regulatory environment that fosters innovation and enables rural banks to participate meaningfully in the digital economy. He emphasized that sector-wide collaboration, data standardization, and shared infrastructure models are key to effective digital transformation.

As Ghana’s financial sector becomes increasingly digital-first, Mr. Awuah concluded that RCBs must evolve into digitally native institutions supported by robust core banking systems, API-enabled platforms, and interoperable digital channels. This transformation is essential not only for regulatory compliance but also for operational efficiency, customer satisfaction, and extending financial services to underserved rural communities.