Banks Technology 2 Elmina
Mr. Osei-Bonsu noted that as at December 31, 2007, the bank had
also moved a total of 601.12 million Ghana cedis by its bullion van,
adding that the amount, excluded monies moved during the
redenomination exercise, and said this had given credence to the viability
and efficiency of rural banks.
The Managing Director stressed that the recognition and growing
public confidence in the rural banking system were as a result of the
services provided by the Apex Bank in support of the entire rural banking
He noted that it was imperative for them to pool their expertise and
resources to enable them face the emerging competition in the banking
According to him, the Bank of Ghana (BOG) was now more
interested in the provision of financial services by accredited financial
services providers and has as such, removed all barriers to those who
hold universal banking licenses, which meant that rural banks would no
longer be protected against the “intrusion” by the big commercial banks.
He said the Apex Bank had therefore trained some personnel in all
the rural banks in microfinance for them to be more effective and efficient
since the strength of the rural banks within the banking fraternity was in
their microfinance activities.
The Central Regional Minister, Nana Ato Arthur paid glowing tribute
to the founders of the Apex Bank and said its contribution towards the
successes being chalked by rural banks in the country could not be
over-emphasized and urged rural banks to offer more support to the
development of agriculture in the country.
The chairman of the Central Region Chapter of the Association of
Rural Banks, Mr. Kweku Acquaah, who presided, said the role of rural
banks was now being recognized by high profile institutions such as the
universities and the MDAs, and urged the banks to be more innovative
and efficient to sustain public confidence.