Community banks must deliver greater impact at the grassroots - BoG

The First Deputy Governor of the Bank of Ghana (BoG), Dr Zakari Mumuni, has called on newly designated Community Banks to deepen their impact in local communities by expanding support for businesses, farmers, and young entrepreneurs as the country marks 50 years of rural banking.

Delivering the closing remarks at the commemoration of the sector's golden jubilee and its transition from Rural Banking to Community Banking in Accra on Thursday, July 16, 2026, he said the change represented "more than a change of name" and signalled a renewed commitment to building stronger, more resilient community-based financial institutions.

The event formed part of the Bank of Ghana's rollout of reforms converting Rural Banks into Community Banks.

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"The transition from Rural Banking to Community Banking is more than a change of name. It is a renewal of purpose," Dr Mumuni said.

"It is a commitment to build on the lessons, the strengths, and the achievements of the past while preparing our institutions for the opportunities ahead," he added.

He said the reforms are aimed at strengthening institutions, improving business models, and expanding economic opportunities for communities across the country.

Describing Ghana's rural banking model as one of the country's greatest innovations in financial inclusion, Dr Mumuni said the sector has matured into one of Africa's largest and most vibrant community banking systems.

"At fifty, we can confidently say that this sector has come of age," he said, adding that the anniversary presented the ideal opportunity to usher in the next phase of community banking.

He also acknowledged the contributions of development partners, including the World Bank Group, the International Monetary Fund (IMF), the African Development Bank (AfDB), and GIZ, for supporting the sector through financing, technical assistance, institutional capacity building, and policy development.

"Their contributions have been instrumental to the growth and transformation of this sector, and we look forward to an even stronger partnership in the years ahead," he noted.

Addressing operators of Community Banks, Dr Mumuni urged them to use their expanded mandate to drive development at the grassroots.

"Go back to your communities and make them your own. Support businesses. Support farmers. Support young entrepreneurs. Let your impact be seen in the lives of the people you serve," he said.

He assured the banks that the central bank would continue to provide "forward-looking regulation and effective supervision" to promote the sector's growth, resilience, and long-term sustainability.

Dr Mumuni also appealed to Ghanaians to actively support the newly branded Community Banks.

"These are your community institutions. Know your Community Bank. Support your Community Bank. Help make it stronger, because strong Community Banks build stronger communities, and stronger communities build a stronger Ghana," he said.

The Deputy Governor said the future of the sector would depend not only on preserving existing institutions but also on strengthening them for future generations.

"The next fifty years will not be defined simply by the institutions we inherit. They will be defined by the institutions we strengthen, the partnerships we deepen, and the lives we transform," he said.

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