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22.10.2005 Business & Finance

Nandom rural bank opens first agency after 24 years.

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Fielmua, (UW), Oct 22, GNA- The Nandom rural bank limited, in the Lawra district of the Upper West Region on Thursday opened its first agency at Fielmua in the Sissala West District after twenty-four years of operation.

Until the opening of the one hundred million cedis agency on Thursday, the bank had since 1994 operated fund mobilization services in the Fielmua area ones a week, on the market day of the town. Its area of operation cuts across the Jirapa/ Lambussie and Sissala West Districts.

Speaking at the opening ceremony, Mr Jacob B. Yirerong, Board Chairman of the bank said the opening of the agency fulfils the desire of the management of the bank to bring its services to the doorsteps of the people of the Fielmua catchment area. He urged the over 18,000 people in the area who are mostly farmers to fully patronize the services provided by the bank by opening accounts with the bank.

The Board Chairman said as at the end of September this year, the bank had mobilized a deposit of 1.3 billion cedis out of which 507.5 million cedis was realized from the Fielmua area of operation. Mr Yirerong advised the people to cultivate the culture of saving with banks in order to access the numerous facilities provided to improve their economic situation. He announced that the bank would open another agency at Hamile and a fund mobilization centre at Pina in the first quarter of next year. Mr Issa Mogtar, the acting manager of the bank briefed the people on the various services provide by the bank and urged them to buy more shares so that they could become part owners of the bank He also asked them to take advantage of the ARB Apex Bank money transfer to make money transfers within and outside the country through the 120 rural banks.

In a speech read on his behalf by Mr Justin Dakura, Jirapa/ Lambusie District Chief Executive, the Regional Minister, Mr Ambrose Dery described the opening of the agency as proof of growth of the bank. He suggested that annual festival and church harvests be used as occasion to sensitise the communities on the importance of saving with the banks.

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