Support Government urged to use rural banks for Common Fund

The government is being urged to help rural banks to compete

  • Published: , Refreshed:
24/7 Live - Subscribe to the Pulse Newsletter!

Togbe Binah Lawluvi VI, Paramount Chief of Ziope and President of Association of Rural Banks, Volta Chapter on Friday appealed to government to channel the District Assemblies Common Funds through rural banks.

He said this is because limiting the opportunity to universal banks puts districts without such banks at great disadvantage.

Togbe Lawluvi made the appeal at a durbar to climax   the Banking Week Celebration by the Association at Ziope.

He explained that a number of districts do not have universal banks and had to travel several kilometers to access the facility whilst rural banks located in those districts could have equally disbursed such funds and speed up development.

“We are now networked and we do money transfers, so these things are easy for us.”

Togbe Lawluvi said rural banks continue to champion socio-economic and infrastructural developments in their locations and needed support from government.

He said for instance, Unity Rural Bank played major roles in the establishment of Ziope Senior High School and rural electrification in the Agotime-Ziope District and with some support from government could do more.

Mr Francis Ganyaglo, Deputy Volta Regional Minister underscored the importance of rural banks in the extension of credit facilities to peasant farmers, fishermen, cottage industries and salaried workers.

He said despite the successes, fraudulent activities of some within the banking system calls for necessary strategies to curb such malpractices, which threaten the survival of rural and community banks.

Do you ever witness news or have a story that should be featured on Pulse Ghana?
Submit your stories, pictures and videos to us now via WhatsApp: +233507713497, Social Media @pulseghana: #PulseEyewitness & DM or Email:

Recommended Articles

Recommended Videos

Top Articles

1 2018 World Happiness Report Somalia is a happier place to live than...bullet
2 MoMo Ghanaians to make int’l payments with mobile money as MTN...bullet
3 Nima Flagstaff House We'll return to vote for you in 2020 - Nana...bullet
4 Nepotism In Ghana NLA boss awards sister-in-law 11 contracts in...bullet
5 Banking In Ghana Ghanaian banks resist the use of crypto currencybullet
6 Police Service Debt Vodafone cuts off line to Ghana Police...bullet
7 Menzgold Ghana Don't deposit money with Menzgold – BoG...bullet
8 Electricity Tariffs PURC gazettes tariff reductionbullet
9 Acquiring Ghanaian Passports Ghanaians to receive...bullet
10 Prisons Recruitment Prison Service extends recruitment...bullet

Top Videos

1 Forbes 2018 Africa's billionaires rich listbullet
2 Money Alert Meet Africa's richest womanbullet
3 Support Finance minister buys Kantanka carbullet
4 New Discovery Ghana discovers new mineral, lithium in commercial...bullet
5 Dr Joseph Siaw Agyepong Nobody can collapse my company – JOSPONGbullet
6 Tech 6 reasons you should buy an iPhone SE instead of any of...bullet
7 Bozoma Saint John 10 quotes from Uber top official, Bozoma,...bullet
8 Plane Crash Starbow suspends operations following plane crashbullet
9 New Phone Nokia’s MWC 2018 Event in Under 10 Minutesbullet
10 New Phone Nokia’s MWC 2018 event in 7 minutesbullet