Rural banks urged to support Small and Micro-enterprises

Management of rural banks have been urged to widen their support for Small and Micro-enterprises especially in the area of agriculture.

Mr Daniel Syme, the outgoing Upper East Deputy Regional Minister, made the call during the 25th Annual General Meeting of the Naara Rural Bank in Navrongo over the weekend.

He said  if rural banks extend support to Small and Micro-enterprises it would help address the plight of smallholder farmers especially women groups and the disabled who continue to grapple with the challenges of scarce credit to purchase agriculture inputs.

“This must not be allowed to fester in the 21st century and banks should venture into new and difficult paths to turn the lives of our people around”, he said.

Mr Syme commended the Bank and called on it to embark upon a robust financial literacy education programme to enable it rope in more customers and strengthen its relationship with the communities.

He said this would help dispel the wrong perception about financial institutions in the country and also help inform people about its products and services.

Mr Kweku Anangah, board chairman of the Bank, called on shareholders and public to buy more shares in the Bank to enable it to meet the requirement of the Bank of Ghana.

He said in line with the Bank’s five strategic plans, it had embarked upon an increased deposit drive by opening more branches in various communities.

Mr Anangah said that as part of the Bank’s corporate social responsibility, it expended GH¢10,163 for various initiatives in its operational areas.

Source: GNA