Govt urged to intervene in Stanchart closure

Bolgatanga, Aug. 17, GNA - Members of the Bolgatanga, Nangodi Bongo and Tongo (BONABOTO), a vigilante group from these towns in the Upper East Region have appealed to government to play a proactive role to get the management of Standard Chartered Bank to rescind the decision to close down the Bolgatanga branch.

They contend that a successful intervention would forestall the withdrawal of the services of Non-Governmental Organisations (NGOs) and religious bodies who are the major development supporters of the marginalized and poor in the rural communities in the region.

Members of the group said this on Friday at a press conference to express fears of the dangers awaiting the people in the region if the NGOs, for the inconvenience they would go through in the absence of the services of the bank, and would have to withdraw their services. The chairman of the group, Mr Francis Avonsige, said the NGOs and churches are working assiduously to promote the re-distribution of wealth through vigorous creation and support for small-scale enterprises as well as the provision of amenities such as education, health and agriculture that go to augment government's efforts in the development of the area.

He said effects of the closure of the bank would be, increased management cost for these agencies, should they have to travel about 400 kilometres to and from Tamale for banking services coupled with the risks involved.

Mr Avonsige, said: "we are worried that these increased administrative cost would deny our already deprived communities the little resources needed for catalysing the development of the area." He said Standard Chartered Bank is the only financial institution with foreign currency transaction facility, and as such it is a preferred bank for donors of the NGOs and the religious bodies operating in the area.

He said the region is already weakened by policies of the colonial masters, thereby denying the people access to good education, resulting in the huge development gap between the North and the South. "In the absence of any aggressive national policy to address the poverty situation in the area, the people's plight would deteriorate if government takes a lukewarm attitude at our request", he added.