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Regional News Fri, 5 Mar 2004

Asante-Akyem Rural Bank widens its savings mobilisation

Ananekrom (Ash), March 5, GNA - The Asante-Akyem Rural Bank has embarked on an intensive savings mobilisation drive in the Agogo portion of the Afram Plains to help introduce the predominantly farming population of the area to the culture of doing business with the banks. The move has been widely hailed as "very significant" since it would among other things assist to check the situation where the farmers annually lose huge sums of money kept in thatched houses and huts through fire disasters.

Addressing a meeting with the chiefs and people of Ananekrom, a thriving marketing centre in the Plains, as part of the programme on Tuesday, Mr Johnny Archibrah, the Senior Manager of the Bank, noted that rural banks have a duty not just to assist mop up excess liquidity but provide the necessary financial intervention to boost rural economies. He said the decision by the management of the Bank to send banking services to the doorsteps of the people in the area was, therefore, in keeping with this important requirement.

The Senior Manager said an opportunity was being created for the farmers and traders on the Plains to have access to credit facilities to expand their farming and other economic production activities. Mr Achibrah told them of a number of products specially developed by the Bank to help reduce the high level of poverty among rural dwellers.

These include the "Adwadifuor Nkosuo" (micro finance loans), "Abusuapanin Anidasuo" (funeral loan) and 'susu' savings and loans. He, therefore, asked them to take advantage of the products by saving part of their earnings with the Bank.

Mr Achibrah announced that they would now be providing normal banking services to the people in the area at Ananekrom on every Tuesday.

He said the people among other things could open savings accounts; current accounts; fixed deposit accounts; make withdrawals and transfer money to friends, relatives and family members in every part of the country.

Mr Wahab Bonti, Assembly Member for the Area, said the Bank's initiative was most welcomed as the risk of having to keep large amounts of money under pillows at Ananekrom, Serebuoso, Anwamtifi, Nhyieso, Wenamda, Nsonyameye, Pewodie, Aberewanko and the Adoneyem communities had now been removed.

Source: GNA