Petty traders must invest - Prof Nsiah-Gyabaah

Professor Kwasi Nsiah-Gyabaah, the Board Chairman of Fiagya Rural Bank at Nkoranza in the Brong-Ahafo Region, has advised petty traders and business entrepreneurs to invest for a sound financial foundation.

He advised them to do business with the bank to enable them to easily access funds to expand their business.

He said the Fiagya Rural Bank was determined to support petty traders and small-scale businesses but added that unless traders and entrepreneurs transact business with it, they would not easily get financial support.

Prof Nsiah-Gyabaah, who is a former Rector of the Sunyani Polytechnic, gave the advice at a ceremony for the relocation of the Sunyani branch office of the bank to the Nana Bosoma Central Market.

Prof Nsiah-Gyabaah advised the traders to cultivate the habit of saving, minimise their expenses on frivolous and social activities and invest for the growth of their businesses.

The Board Chairman explained that because of its excellent services, the bank had been able to maintain and increase its customer base, hence the need to relocate to the new office to create a conducive environment for customers.

Prof Nsiah-Gyabaah said the bank moved to the Nana Bosoma Central Market to bring its services closer to the traders and commended the customers and shareholders for their loyalty to the bank in the past years.

Ernest Kwame Baffour, the General Manager of the Bank, said the bank had granted loans to customers and rolled out several policies, including education and funeral.

He praised the management and staff of the bank for their hard work and untiring efforts, saying despite the financial challenges facing the country, the bank was able to make profit in 2016.

Owusu Sekyere, the former General Manager of the bank, urged shareholders to increase their share capital for the bank to be able to compete with other traditional and international banks.

Established in 1983, Mr Sekyere said the bank is determined to help reduce poverty among farmers and petty traders by assisting them to expand their businesses.