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Business News Thu, 26 Jun 1997

Pepease Rural Bank Spends 65mC On Projects

Kwahu-Pepease (E/R), June 25, - The Kwahu Rural Bank has, since the past four years, spent 65 million cedis to finance a number of development projects in its catchment area. The projects include the extension of electricity to Akumasu, a borehole at Pepease, rehabilitation of a mortuary at Atibie, and re-roofing of a classroom block for the Saint Dominic Senior Secondary School at Pepease. Mr Ernest Apeadu, vice-chairman of the Board of Directors of the bank, announced this at the 15th annual shareholders meeting of the bank at Kwahu Pepease yesterday. The bank has, over the past years, also awarded scholarships totalling six million cedis to children of 15 shareholders who excelled in the Basic Education Certificate Examination (BECE), he said. It purchased a quantity of building materials for the construction of its permanent building. The board chairman appealed to the government to exempt rural banks from the payment of taxes to enable them to use the money to finance development projects in their areas of operation.

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