Rural Bank urged to support the youth

Mr. Paul Derigubaa, the Member of Parliament for Jirapa, has urged the Sonzele Rural Bank Limited to use part of its micro-finance resources to support the youth to undertake dry season farming.

“Irrigation agriculture is commercial and unlike the rain fed agriculture the risks of crop failure are low”, he said at the Annual General Meeting of share holders of the bank in Jirapa.

He said his long term desire had been to institutionalize dry season farming through irrigation by spearheading the construction of new dams while the old ones were rehabilitated to provide opportunities for the youth to make good incomes.

Mr. Derigubaa said the influx of universal banks had raised the level of competition in the banking industry with some banks venturing into micro-finance which was a preserve for rural and community banks.

He therefore called for a change in attitude and a professional approach to all aspects of banking which could be accomplished through training programmes for all categories of staff including the directors of the bank. The Bank declared a profit of GH¢ 389,606.00 for the 2012 fiscal year which was 87 per cent more than the 2011 profit of GH¢ 208,512.00.

Mr. Albert Bosoro, Chairman of the Board of Directors of the Bank, said the Bank continued to chalk success with the achievement of a growth of 43 per cent in its operating income for 2012.

He assured the shareholders that the bank would have a much better story to tell next year as a result of the prudent and innovative measures being adopted by the Board and Management to minimize any adverse impact arising out of slower business activities.