Women urged to take interest in banking system -Nikoi

Kwahu Pepease (Eastern Region), 14th July 99-

Mrs. Gloria Nikoi, Vice-chairperson of the Association of Rural Banks, has urged women to take active interest in the banking system to enable them to get financial assistance.

She asked women to save and purchase shares of rural banks to enable the banks to give them financial assistance to lessen the burden of caring for the family.

Mrs. Nikoi, addressing the 17th annual general meeting of the Kwahu Rural Bank at Pepease in the Kwahu South district on Saturday, said with their population advantage, women could assist the rural banks to mobilise funds to enhance development in the communities.

Mrs. Nikoi, who is also the chairwoman of the Board of Directors of the Akwapim Rural Bank, said rural banks mobilised 112 billion cedis last year into the financial sector.

She called on rural banks to adopt effective measures to improve their financial base to qualify for registration by "the Apex Bank, which commences operations next year".

Mr Ernest Apeadu, Vice-Chairman of the Board of Directors of the Bank, said the bank made a net profit of 177 million cedis last year as against 60 million cedis in 1997.

He said deposit mobilisation also increased from 770 million cedis in 1997 to 1.2 billion cedis last year.

Share capital recorded a growth of five per cent from 37.5 million cedis in 1997 to 39.6 million cedis last year and the bank

granted 515 million cedis as loans to its customers as against 385 million cedis the previous year.

The Vice- Chairman said as a result of its significant performances, 19.8 million cedis had been approved as dividend to share holders, adding that three cedis would be paid on a share to the share holders.

He called on the share holders to increase their share capital to a minimum of 100,000 cedis within the next two years to enable the bank to sell the remaining shares to the public.

GRi?/