wpid-cedi.jpgBy Patrick PAINTSIL

Microfin Rural Bank has been opened at Gomoa Pomadze in the Central Region to provide sustainable and all-inclusive financial support services to micro, small and meduim-enterprises (MSMEs) as part of its broader objective to promote businesses of clients within its catchment area.

The bank will finance key commodity value chain ventures that have the potential to employ about 500 participants, specifically high value commodities for both the domestic export markets, and also facilitate access to business development skills to beneficiaries doing business within its operational areas.

The bank will offer the various rural banking products such as savings and current accounts, fixed deposits, salary loans, mobile banking, as well as other segmented products to customers.

Mr. Victor Antwi, Board Chairman of Microfin Rural Bank, said the bank will leverage its presence in the area to transform and improve the lives of the deprived people in the Gomoa districts and the region as a whole through microfinancing.

He said the bank has in place the relevant strategies and products that is focused on improving the lives of its clients and ensuring that their businesses grow from the micro-level to viable small and medium-sized enterprises.

Mr. Antwi said Microfin Rural Bank will pay critical attention to educating its clients as a way of helping them to effectively manage credit risks and to make embrace a strong savings culture.

The bank, he said, also has a vibrant risk management and internal control mechanisms aimed at improving operational and financial performances, and will be prudently managed to ensure security and maximisation of returns on investments.

He implored the various district assemblies and local institutions to partner the bank ,by way of investment, to augment the bank?s vision to grow the rural economy while assuring that the bank will live up to its corporate social responsibilities.

Microfin Rural Bank has provided micro-loans to over 2000 people since it started operations, with almost 85 percent of its clients being women engaged in petty trading and agriculture-related value-chain activities.

The bank has also collaborated with Star Microinsurance Services to insure all its loans under a credit life policy.
Emmanuel Yaw Sarpong, acting Managing Director, ARB Apex Bank Limited, in a speech read on his behalf, advised management of the bank to remain focused and adopt innovative strategies that will shield the bank from the numerous infantile crises facing new businesses.

He also touched on high-standard customer service saying banking is now dependent on the provision of quality service to customers, without which the bank cannot thrive, and asked the bank to invest in training programmes that will help the staff improve service delivery.

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