THE RURAL BANKER ISSUE 4 Q4, 2018
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@PhoenixLifeSocial Issue The Rural Banker 4 CONTENTS
15 The genesis of Rural Banking in Ghana. 12 HOW BONGO RURAL BANK IS CHANGING LIVES IN 18 PROFITS ARE SOARING AT BUILSA COMMUNITY OnJuly9, 1976,the first Rural Bank was born THE UPPER EAST REGION BANK, MAKING IT AN INDUSTRY BENCHMARK at Agona Nyakrom. Dr Sam Dufu was the first Chairman of the Board of Directors... Bongo Rural Bank Hayatudeen Awudu 37 Upper East Regional Minister woos (BORBA) Limited, is one Ibrahim became investors. of the most progressive General Manager of The Regional Minister made the call during and thriving Rural Banks Builsa Community Bank the 20th Biennial General Meeting of the in the Upper East Region. (Bucobank) in 2012. Association of Rural Banks ARB-Ghana... Established at Bongo in Hayat as he is affectionately 2009, it presently has called, joined Bucobank on three Mobilization Centres July 1, 2005 initially as a 38 Quotes from the Chapter Presidents. at Namoo, Soe, and The Rural Banker interacted with Chief Clerk. He rose Zorkor, all in the Upper through the ranks to some Chapter Presidents of the East Region... Association of Rural Banks (ARB) on the position of General the sidelines of the recently held... Manager. 45 Procrastination: a scientific guide on how to stop it. Procrastination is a challenge we have all faced at one point or another. For as 28 FIASEMAN RURAL BANK - A TOP-NOTCH RURAL BANK 25 PRESIDENT-ELECT OF THE ASSOCIATION OF RURAL BANKS long as humans have been around ... WITH RICH HISTORY OUTLINES HIS VISION 50 ARB Apex Bank partners with UNICEF Established in 1983 at In his acceptance Speech, to improve household sanitation. Bogoso in the Western Mr Daniel Ohene Kwaku ARB Apex Bank has partnered with Region, Fiaseman Owusu, thanked the UNICEF to launch an innovative and Rural Bank has become outgoing President, Dr affordable loan scheme for people... a top-notch Rural Nana Akowuah Boamah, Bank, headquartered his council members 52 Fiaseman Rural Bank glows at the at Bogoso. The Bank rd and all participants for 3 Rural Banking Excellence Awards. currently has eleven the confidence reposed Fiaseman Rural Bank in the Western branches, located at in him. Region, emerged the overall best Rural Bogoso, Prestea, Tarkwa, rd He pledged to harness the Bank at the 3 Rural Banking ... Aboso, Huni Valley, expertise of all the members 58 Chapter Administrators cry for Darmang, Ateiku, Tamso, of the elected council to logistics. Sikafie–Bogoso, Bawdie... help ... It emerged that one of the major and Takoradi. factors hindering the smooth operation of the Regional Chapters of the ... 6 The Association of Rural Banks 61 Managing work colleagues & (ARB), has held its 20th Biennial FROM THE PREVIOUS ISSUE peers successfully. General Meeting (BGM) and the 3rd Every employee aspires to a higher po- Rural Banking Excellence Awards at sition in the organization. However, not Bolgatanga. all employees are equal in experiencel... The twin events which were on 63 End of year thanksgiving service the theme: “Rural Banking – Beyond & cocktail. 40 Years”, brought together, Directors, A thanksgiving church service, staff General Managers, Managers’ durbar, cocktail and dinner dance have Representatives and Regional Chapter been held to climax activities marking... Administrators, 65 ARB Apex Bank launches brand guide. As part of ARB Apex Bank’s rebranding strategy, a Brand Book has been TELLING OUR STORIES developed and launched... 67 MD’s working visit to RCBs. INTERVIEW As part of keeping a close working INTERVIEW relationship with the Rural and Community Banks (RCBs)... 70 Why it is significant for RCBs to professionalize and recognize mobile bankers. According to the Efficiency Monitoring Unit of ARB Apex Bank Report for the 3rd Quarter of 2018, there are 144 Rural and Community Banks (RCBs)...
42 MEET THE FIRST FEMALE 56 AN INSIGHTFUL CHAT WITH EXECUTIVE DIRECTOR OF THE DR NANA AKOWAUH BOAMAH, ASSOCIATION OF RURAL BANKS IMMEDIATE-PAST PRESIDENT Mrs Comfort Owusu, the imcumbent Executive Director of the Association of Rural OF ARB Banks (ARB) was elevated to the position The immediate-past President of the in April 2018, having acted in the role from Association of Rural Banks, Dr Nana The cover of this issue represents the result of unity among October 2017. Speaking to The Rural Banker, Akowuah Boamah has become the latest the Rural and Community Banks on the map of Ghana. The the sixth Executive Director and the only to add to the many voices calling on concept shows that together, the Banks have a reach that 7 FROM THE MD’s DESK female to have occupied the role said, the government to reduce the corporate income extends across all 10 regions and almost all districts of the position was a permanent job, adding that, tax of the Rural and Community Banks in I AM BECAUSE WE ARE Ghana. The Rural Banker caught up with the country. Together, ARB Apex Bank and the RCBs have the when one of us is threatened, we “until any misfortune, one retires on the job largest network of banks in Ghana. are all at risk. Each of our problems or goes on voluntary retirement. veteran banker is of concern to the other. Each of us is a vital thread in the tapestry of another’s life.
Editor-in-Chief: Editorial Team Contributing Writers Design and Layout by: The Publisher Kojo Mattah Gordon P. D. Dery Francis Enimil Ashun Loop Consulting Limited. ARB Apex Bank: No. 5, 9th Road, Gamel Abdul Nasser Akorfa Kpodoh Joseph Akossey No. 2C Klanaa Ave. Adenta Avenue, South Ridge, Accra | P. O. Box GP 20321, Accra Editor Halima Torto Dr Sam Dufu [email protected] Telephone: 0302 – 771738 / 772129 / 772034 | Fax: 233 – 302 772260 | Email: [email protected] Maximus Attah Henrietta Malm 0244775753 GPS Address: GA 0537581 Printed by: All questions, comments and submissions should be sent Zebra Press Limited (0207006065) to the Editor at [email protected] Q4, 2018 AN ARB APEX BANK QUARTERLY 1 Q4, 2018 AN ARB APEX BANK QUARTERLY 1 Issue 4 THE RURAL BANKER this is US! Our values say it all.
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EDITOR’S DESK Maximus Attah
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others have bought keeps the communities Mobile Banking, to give rom very humble shares into financially economically active and customers real convenience beginnings in less endowed RCBs, buoyant. and comfort. 1976, when the to help all the banks With assistance from the first Rural and remain strong and take Again, Ghanaians are ARB Apex Bank, the RCBs Community Bank advantage of the many very attached to their would soon deploy Agency F(RCB) was established economic opportunities heritage. That is why Banking across the country, at Agona Nyakrom in being created in the many Ghanaian parents with the pilot phase alone the Central Region, the country. would give birth to kids in expected to rope in more network of RCBs keeps America, Europe or any than 1,000 agents. expanding. It is imperative to other foreign country; note that the whole but would make sure the This means the RCB essence of Rural and kids speak their native customer would be spoilt In 2018 alone, Community Banking Ghanaian dialect. for choice, as many medium Akumadan Rural Bank was built on the sized shops, supermarkets and Asokore Mampong principle of community In the same vein, because and businesses in the rural Rural Bank, both in ownership, where the of the centralized nature areas could become RCB the Ashanti Region, Shareholders, Directors, of the governance Agency ‘Bank’. joined the ever growing and Staff are from processes in Ghana, network of banks, the communities in many people move from With a security enhanced bringing the total which the unit banks their villages and rural debit card from an RCB, number of RCBs in the are founded and hometowns to the city a customer can therefore country to 144. operated. Sometimes, centres in search of withdraw cash from an ATM, even members of the education, jobs and the pay for purchases at the One Ghanaian business management team are good life. supermarkets, transfer cash, model, which has stood carefully selected based receive money transfers, and the test of time over on their rich local and People go to school even make cash withdrawals the years, is Rural and community knowledge in the city centres, from merchants. Community Banking. and experience. get employed, buy In the over four decades homes and settle there. The Agency Banking of their existence Because the banks are Many of these people initiative by the ARB Apex and serving the rural owned by members of however make sure that Bank and the RCBs is communities of the the community, the they build holiday or expected to further open country, RCBs have communal spirit serves retirement homes in their up the rural economy of the had their fair share of as a strong check on the hometowns. country, with the creation of challenges. Some of Directors, Management jobs for many people. them were particularly and Staff, which Whether on holiday or hit hard by the ensures that they work on pension, the RCBs Whether you live and work in 2017/2018 banking in the best interests are there to serve you, the cities or not, you would crisis. of the community because they are located one day be in the rural areas, shareholders. in all the rural areas of where you are not likely to Other RCBs have also the country. have access to the services been racing against time Customers of the banks of the commercial banks. to meet the Regulator’s are also largely based Furthermore, the RCBs new minimum capital in the communities have begun deploying There are 144 RCBs, with requirement of GHC1.0 and the banks provide modern and value added over 700 branches spread million. Some of the a veritable financial technology tools such throughout all the districts banks have deployed oxygen to the micro- as automated teller in the country. various strategies, small-and medium machines (ATMs), Mobile including mergers, while enterprises, which Money Transfers, and Choose one today!
Q4, 2018 AN ARB APEX BANK QUARTERLY 3 Issue 4 THE RURAL BANKER
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4 AN ARB APEX BANK QUARTERLY Q4, 2018 Issue The Rural Banker 4 FROM THE MD’S DESK I AM BECAUSE WE ARE
the farmyard, and this time he got the cow. I also like the Ubuntu story where an anthropologist was said to propose a game to the kids in an African tribe. He put a basket full of fruits near a tree 100 metres away and told them whoever got there first won all the sweet fruits. When he told them to run, they all took each other’s hand and ran together, then sat in a circle enjoying their treats. When the anthropologist asked them why they chose to run as a group when one could have had all the fruits to himself, they said: “UBUNTU, how can one be happy if all the others are sad”. Ubuntu is a Nguni Bantu (Zulu, Xhosa and others) term meaning “humanity”. It is often translated as “I am because we are.” The moral of these pieces is that when one of us is threatened, we are all at risk. Each of our problems is of concern to the other. Each of us is a vital thread in the tapestry of Kojo Mattah another’s life. Managing Director, ARB Apex Bank The vexed issues of minimum capital requirement, corporate tax increase and corporate governance directives, The pig said, “Too bad. But it’s not of may appear to have affected the RCBs like anecdotes. They any concern to me.” in different measures. It is however tell compelling stories important to approach them with in succinct ways. This The mouse ran to the cow, and he concerted efforts. For minimum is why the story of the said, “There’s a mousetrap in the capital requirements, we would mousetrap in the house house!” The cow said, “I can see your continue to support the efforts of which I shared at the concern, but it’s no skin off my nose.” strong RCBs to partner with weaker I The little mouse went back very sadly recent BGM still reverberates ones through mergers or strategic in my mind, where the mouse to face the mousetrap alone. That investments. looked through the crack and night there was the sound of the trap saw the farmer and his wife catching its prey. The farmer’s wife The Association of Rural Banks and opening a package. rushed to the trap. In the dark, she did the ARB Apex Bank reiterate our not see that the trap had captured the plea to the Government to consider a tail of a poisonous snake. The snake reduction in the Corporate Tax of 25% bit the farmer’s wife. The farmer’s wife on RCBs to ensure their long term What food could this be? developed a bad fever. But he was devastated survival. Again, it is imperative for to see that the package As you know, when someone gets a RCB Directors to adhere to, and share, contained a mousetrap. He fever, what do you feed her? “Chicken” good corporate governance practices retreated to the farmyard soup! The farmer got his axe and to help regulate risk and reduce, if and shouted, “There’s a went to the farmyard to get the main not eliminate, the opportunity for mousetrap in the house! ingredient. defalcation. Implementing excellent There’s a mousetrap in the corporate governance systems will house!” The wife’s illness continued. Many ensure RCBs protect their Boards, The chicken clucked and people came to visit her. The farmer Management and Staff. said, “I can see you’re needed to feed them all. He went concerned about this, to the farmyard once again and We have dedicated this issue of Mouse, but it’s of no slaughtered the pig. The Rural Banker to the National concern to me.” Association of Rural Banks to again Unfortunately, the farmer’s wife project Our Togetherness . We are The mouse ran to the pig passed away from her illness. There because you are!! and shouted, “There’s a was a large funeral, and of course mousetrap in the house!” the folks at the funeral needed to be Need I say more ? fed. Once again the farmer went to
Q4, 2018 AN AN ARB ARB APEX APEX BANK BANK QUARTERLY QUARTERLY 55 Issue 4 THE RURAL BANKER
FROM LEFT TO RIGHT: Nana Dr Akowua Boamah - outgoing President of Association of Rural Banks, Tongraan Kublisong Nanlebegtang, chief of Talensi Traditional Area and Chairman of the Occassion, Patience Abayage, Upper West Regional Minister. ARB HOLDS 20TH BIENNIAL GENERAL MEETING
to the BGM, Dr Nana he Association strategies to tackle GH¢1.0 million could Akowuah Boamah, them. not be revised. However, of Rural Banks out-going President (ARB), the the BoG would consider of the Association Report by the requests for extension umbrella lobby indicated that the group of all the Secretariat of the deadline on BGM was instituted In her report to the case-by-case basis”, she 144T Rural and Community to create a platform BGM, Mrs Comfort Banks (RCBs) in the country, revealed. th for the Council Owusu, Executive has held its 20 Biennial to account for its Director of the She added that the General Meeting (BGM) Association had rd stewardship. Association of Rural and the 3 Rural Banking Banks, indicated consequently developed Excellence Awards at He said the BGM that the Association a template to be Bolgatanga in the Upper constituted “a solid intervened on behalf followed in writing to East Region. platform for us to of members on the BoG for time extension, summon a new spirit deadline set by the and “wrote to our of responsibility, Bank of Ghana (BoG) members to route their The twin events, sacrifice, service for meeting the new requests for extension which were on and commitment paid-up capital. of deadlines through the the theme: “Rural and to also discuss National Secretariat”. Banking – Beyond issues relevant to She said the 40 Years”, brought Only Baduman Rural the development of Association wrote to Bank Limited, submitted together, Directors, the Rural Banking BoG requesting for General Managers, its request for extension sector”. revision of timelines of deadline for the paid- Managers’ for RCBs, which had Representatives and up capital. Baduman He revealed that the challenges satisfying Rural Bank’s request was Regional Chapter theme for the BGM, the revised minimum Administrators, who submitted to the BoG “Rural Banking – paid-up capital and several follow-ups converged at the Beyond 40 Years”, requirements. main auditorium have been made, with no offered the banks response. of the Bolgatanga an opportunity to “Following our Polytechnic from take a critical look intervention, BoG Petition on Corporate Friday, November at the Rural Banking has advised that the 23 to Saturday, Tax Hike sector, identify timelines for meeting Mrs Owusu revealed November 24, 2018. the challenges the minimum capital In his final address that the hike in and to fashion out requirement of corporate income tax
6 AN ARB APEX BANK QUARTERLY Q4, 2018 Issue The Rural Banker 4
sector and that “the for the Bank, which adding that, “the first Ministry would reach was aimed at bringing issue was launched at out to us and other greater efficiency to the the Bank’s 17th Annual major stakeholders for operations of the Bank, to General Meeting (AGM) As part of our further inputs when the be able to serve the RCBs on 28th April, 2018. Issue organizational preliminary review was better. No. 2 was dedicated to restructuring to completed”. our pledge and resolve She stated that “as a “As part of our to serve RCBs to the best strategically position follow-up, the Council organizational of our abilities. Issue itself to serve the requested for another restructuring to No. 3 focused on our meeting with His strategically position Togetherness and the Rural and Community Excellency, the Vice itself to serve the benefits thereof and why Banks better, the Bank President of the Republic Rural and Community we should jealously guard of Ghana, Alhaji Dr Banks better, the Bank it. Issue No. 4 is focused employed three (3) Mahamudu Bawumia, employed three (3) on the Association of Heads of Department and the Deputy Minister Heads of Department in Rural Banks”. September, 2018. They in September, of Finance, Hon Kwaku He stressed the strategic Kwarteng”. are Michael Appiah, Head importance of the 2018. They are – Operations; Gordon ‘Business Traveler’ P.D. Dery, Head – BDMR; Michael Appiah, She said the matter had Project and stated that, been referred to the Joseph Osei-Asantey, “during the recently Head – Operations; Technical Economic Head – Risk and Credit held 17th Annual Gordon P.D. Dery, Advisor to His Excellency Management”, he said. National Managers’ the Vice President, Mr Conference, which Head – Business Evron Hughes, adding He noted that, “Benjamin took place in Ho, there Development, that “all attempts to Chemel, the Head of was a comprehensive schedule a meeting with Finance and Strategy Unit presentation on the Research and Mr Hughes have not been was also appointed as ‘Business Traveler’ Marketing (BDMR); fruitful”. the new Head of Finance vehicle fleet financing She indicated that the and Administration programme. Under the Joseph Osei-Asantey, Council had not relented on November 1, 2018, arrangement, a total of Head – Risk and Credit on its efforts even though following the retirement 150 coaches and 146 of Kwaku Acheapong Management. it is becoming very mini-buses are available”. frustrating. Consequently, Ababio from active service”. He said the buses, with the Council has engines, transmission and requested its members He indicated that the axles manufactured in to take up the tax issue Bank had rebranded its Germany and assembled with appropriate people from 8 percent to 25 newsletter to tell the in China, will come with whenever an opportunity story of rural banking, per cent was having arises. a telling effect on the performance of RCBs. Address by ARB Apex She indicated that the Bank National Council of In his speech, Kojo the ARB met with His Mattah, Managing Excellency, the Vice Director of ARB Apex President of the Republic Bank indicated that he of Ghana, Alhaji Dr had the rare privilege of Mahamudu Bawumia visiting about 53 RCBs and the Deputy Minister within the first 18 months of Finance, Hon Kwaku of his appointment to Kwarteng, on the tax acquaint himself with the issue. issues facing the banks. He said he had also The Association received participated in Chapter a letter from the Ministry activities, especially of Finance that the programmes in Ashanti Government was still and Eastern Chapters. reviewing our request together with the broad He revealed that the Government policy Board of Directors of ARB options for the financial Apex Bank had approved BIENNIAL GENERAL a new organogram MEETING , 2018 Q4, 2018 AN ARB APEX BANK QUARTERLY 7 Issue 4 THE RURAL BANKER all the latest features Bank and the RCB in RCBs would finance it to to the presentation and enhancements, the specific operational commercial operators at of accounts of the including in-built zones, giving the partner a rate of 28 per cent per Association, election of video panels, to aid RCBs an opportunity to annum. The RCBs would new executives, the 3rd advertisement of RCBs’ market their product be in charge of revenue Rural Banking Excellence products and services offerings as well as collection, which is a key Awards, and the Dinner to between 15,000 to optimize visibility. and critical component of Dance. 20,000 passengers, who this project. are expected to use the He stated that the vehicles would be pre- The first day of the coaches on a daily basis. BGM was dedicated to He revealed that there financed by the ARB Apex Bank at an annual general deliberations would be bus terminals and discussion of topical in all regional chapters, interest rate of 21 per cent for a tenor of four issues, while the second which would also be day was dedicated branded by the ARB Apex (4) years, whereas the
THE 20TH BIENNIAL GENERAL MEETING IN PICTURES ARRIVAL & REGISTRATION
8 AN ARB APEX BANK QUARTERLY Q4, 2018 Issue The Rural Banker 4
OPENING CEREMONY
PRESENTATIONS
SYNDICATE GROUPS
Q4, 2018 AN ARB APEX BANK QUARTERLY 9 Issue 4 THE RURAL BANKER
ELECTIONS
AWARDS /DINNER DANCE
10 AN ARB APEX BANK QUARTERLY Q4, 2018 Issue The Rural Banker 4
Q4, 2018 AN ARB APEX BANK QUARTERLY 11 Issue 4 THE RURAL BANKER Management Team b. Personal Loans Mr Alex Akwara, a native c. Commercial Loans/ HOW of Mirigu in the Kassena Business Loans Nankana West District of d. Micro Credit Loans the Upper East Region e. Credit with BONGO of Ghana heads the Education Loan Management Team. f. Farmer Loans Mr Akwara who had his Electronic Product RURAL Secondary Education at Suite Navrongo Senior High a. Apex Link School (NAVASCO), b. Automated Clearing BANK IS continued to Tamale House Polytechnic to read c. Western Union Higher National Diploma d. Mobile Money (HND) in Accountancy e. U-connect CHANGING and later had a Bachelor of Commerce (BCom) Story Behind our degree from the Success LIVES IN University of Cape Coast. The Secret behind the He also did an MBA success of the Bank is (CEMBA) from the Kwame the good collaboration THE UPPER Nkrumah University of between the Board and Science and Technology Management, as the (KNUST), Kumasi. Management Team is He worked as a station given a free hand to EAST REGION implement the broad Manager at the Ghana Oil Company Limited strategies of the Board Bongo Rural Bank (BORBA) Limited, is one of (GOIL), before moving to of Directors with no the most progressive and thriving Rural Banks Naara Rural Bank as an interference. in the Upper East Region. Established at Bongo Accounts Clerk, where he The Bank has also rose through the ranks ensured that it adheres in 2009, it presently has three Mobilization to become a Branch strictly to Regulatory Centres at Namoo, Soe, and Zorkor, all in the Manager until 2014. and Compliance Upper East Region. A seven-member Board of directives by the Bank Mr Akwara was appointed of Ghana and the Directors, led by Mr Azitariga A. Gaaga, leads General Manager of ARB Apex Bank. They the vision at the Bank, with a five-member Bongo Rural Bank in have also deployed Management Team, headed by Felix Akwara 2015. an effective Internal He is married to Patience Control system to as the General Manager, runs the day-to-day and they are blessed with ensure that their activities of the Bank. three children (two boys, systems and processes one girl) namely: Cyril, are always up to Awinogma and Abowine. date with Regulatory Requirements. he Bank was set up Product and Service Line through the purchase Again, the Bank has of shares by members To delight its growing deployed a vibrant of the community in customers, Bongo Rural Marketing Team, which 2009. This awesome Bank (BORBA) Limited, is spread in all the three community has kept has developed the Mobilization Centres at following products and theT Bank alive for almost ten Namoo, Soe, and Zorkor services: years. and the Head Office, Current and Savings to engage existing and Products potential customers on a. Current Accounts face-to-face bases. Though it had some initial It therefore has a challenges from the onset, b. Ordinary Savings Accounts good rapport with the current Board of Directors members of the have put in place pragmatic c. Susu Saving Accounts communities in which measures to return the Bank to d. Fixed Deposits it operates because winning ways and their vision of the good customer has begun to bear fruits. Loan Facilities a. Salary Loans service provided to the
12 AN ARB APEX BANK QUARTERLY Q4, 2018 Issue The Rural Banker 4
the Board are, Francis Atintono, Vice-Chairman, Peter Ayinbisa, member, Mr Eric Akurugu, member, Mr Abraham Giba, member, Mr John Abugre Akamah, member, and Ms Fawzia Adamu, member. Sharing the Vision Mr Azitariga A. Gaaga, Chairman of the Board of Directors believes that, “to be successful in these challenging times, every board must be focused on the issues at hand. No division of ideas but rather unison on all the relevant and strategic issues is what can set every board apart”, he added. He noted that the Boards cannot rely on “try and error methods”. Mr Azitariga advised other Directors to keep abreast with new trends Felix Akwara, GM and Azitariga A. Gaaga, Board Chair Receiving an award on behalf of the Bank at the recently held Rural in the banking industry Banking Excellence Awards and to avail themselves of programmes which seek to share ideas on delighted customers. It micro-savings as well He said he believes in a industry’s best practices. is no wonder that the as deploying our female bottom-up approach to “More importantly, Bank’s deposts have staff as Marketing communications amongst they should cooperate grown from GH¢1.2 Agents, and these have his staff, “because it with management and million in 2015 to worked well for us”, makes it easier for them together we can resolve GH¢6.5 million in 2018, a noted Mr Akwara, General to understand our goals issues as a unit”, he huge vote of confidence Manager of the Bank. and targets and together advised, adding that, “the in the Bank by our we are able to deliver Team Support Board should be serious customers. good products to our at their responsibilities customers”. Competitive Advantage “The Board of Directors instead of being arm are very cooperative and Mr Akwara revealed that chair Directors”. BORBA Limited believes supportive, especially staff improvement “is at He noted that Bongo that the main reason my Board Chairman Mr the core of everything we Rural Bank is yet to reach for its impressive Azitariga Gaaga who had do, because we believe ten years and because of performance is the a lot of trust in me and that the knowledge of the initial challenges with competitive advantage the Management Team”, our team members is key the first Management it has in the area. It said a happy looking to remaining a relevant team, the growth of the however believes that General Manager. player in the industry”. Bank was hampered, it has to continue to He indicated that he “due to bad management focus on maintaining the practices”. community ownership had employed strategic Mr Azitariga A. Gaaga communications as an Heads the Seven- of the Bank. “The Bank “It therefore took the belongs to them and effective tool to engage Member Board all members of staff and Board, with assistance they must operate The seven-member Board from the Bank of Ghana with the Bank to grow carry them along with of Directors is chaired by himself. (BoG), a hard time to their own. We are also Mr Azitariga A. Gaaga. get the initial problems focusing on ‘Susu’ or The other members of resolved”, he added.
Q4, 2018 AN ARB APEX BANK QUARTERLY 13 An ARB Apex Bank Quarterly Issue 4 THE RURAL BANKER
He revealed that because “Fortunately, we have governance at the Bank”. of the challenges with benefited from all the first Management courses organized by He said the Bank would team, “when the BOG’s ARB Apex Bank and the also have “at least two minimum capital Association of Rural agencies, with one in To be successful requirement was placed Banks, while some of the Regional Capital, before us, it was a us have also embarked Bolgatanga”. in these herculean task. The on self-enhancement He revealed that he challenging community had already courses that assist us on would also work hard lost faith in the Bank the job”, he said. with the other Directors and other Banks nearby times, every He said his Board has to help shore up the had taken advantage. stated capital of the Bank board must be It took the personal therefore never lacked ideas on the way forward to GH¢2.5 million Ghana focused on the efforts of members of the Cedis. Board and a lot of public “for this our most issues at hand. education, as well as promising Bank” He thanked his colleague Board members for the personal sacrifices from Way Forward No division of employees of the Bank to support and called on ideas, but rather bring us to where we are He indicated that the other organisations in currently”, he added. challenges in the Banking the Region, including unison on all industry were a wake- non-governmental He praised the personal up call to all players in organisations to do the relevant and efforts and sacrifices the industry to be more business with Bongo of the current General forward looking and to Rural Bank. strategic issues Manager, Mr Akwara and never rest on their oars. is what can set his team for helping to He said although, he He also thanked the push the Bank this far. would be on the Board Savannah Accelerated every board Development Authority He stated that the Board for the next three years, he would advocate for (SADA), now Northern apart. did not have a rich pool Development Authority of professionals, but an increase in the Board membership “from the (NDA) and the Bongo was quick to add that, District Assembly for “a few of us have varied current seven to nine members, to broarden doing business with the experience, which Bank. helps in directing and the knowledge and refocusing the vision of experience pool, in order the Bank”. to improve corporate
14 AN ARB APEX BANK QUARTERLY Mr Felix Akwara in a pose with Madam Patience Q4, 2018 Paulina Abayage, Upper East Regional Minister Issue The Rural Banker 4
THE GENESIS OF RURAL BANKING IN GHANA
Credit: Dr Sam Dufu and ARB Apex Bank files
Bank, Vice-President, Banks, supported by the was assisted under the n July 9, 1976, the Mr Mike Ezan of Bank of Ghana, pursued RUFINSAP to engage first Rural Bank Essiama Rural Bank, a wide range of consultants from the was born at Treasurer, Mr A. G. T. programmes for training Philippines to prepare Agona Nyakrom. Ofori of Manya Krobo of Directors and all levels training modules for all Dr Sam Dufu was Rural Bank, Secretary, of Rural Bank staff – areas of rural banking and Mr Kofi Bronya of managers, accountants, operations. Othe first Chairman of the Board the Institute of project officers, cashiers of Directors. One of the first Bankers. This dynamic and other staff in Bank of Ghana was then projects the Bank undertook, was team was responsible for virtually all areas of providing to redeem all cocoa farms, which the cohesion and stability banking. inspection services, had been pledged to money of the rural banking clearing rural bank lenders, and return them to movement in the early The Association’s efforts cheques, and providing their bona fide owners. stages. Mr Ezan and to offer training specie Kofi Bronya contributed programmes were movement for the Rural significantly in strengthened by the Banks. In Association of Rural Banks developing training intervention of the 1994, the Central (ARB) modules for the Directors Rural Financial Sector Bank decided to and facilitating Adjustment Programme offload the specie Five years after the the training workshops (RUFINSAP) between movement and cheque establishment of around the country. 1991 and 1994. clearing services to the the Nyakrom Rural Bank, 31 Commercial Banks, which Rural Banks had been opened. Both Mr Ezan and Mr Also, under the had become the In 1981, the 31 Rural Banks Bronya were professional RUFINSAP, the Rural competitors of Rural came together to form the Rural bankers. Later, Mr J.B. Banks were restructured Banks. The Association Bankers’ Association, which was Yirerong of Nandom and classified into immediately set out to later renamed Association of Rural Bank, joined the distressed, mediocre find a solution to what Rural Banks. It was registered team as Secretary when and satisfactory it perceived was a threat under the Companies Code Mr Ofori left the team categories. The essence to the survival of Rural 1063 (Act 179) as a company due to ill health. A was to enable the Banks. limited by guarantee. Dr Constitution was Association and the Bank Sam Dufu was elected the first adopted at the Annual of Ghana to institute Contacts were made with President of the Association. General Meeting held appropriate supervisory the Government of Ghana Among the first officers of the on June 8, 1985. mechanisms and training and other international Association were Dr (Mrs) programmes for the organizations like Gloria Nikoi of Akuapem Rural The Association of Rural banks. The Association DANIDA, IFAD,
Q4, 2018 AN ARB APEX BANK QUARTERLY 15 Issue 4 THE RURAL BANKER
GIZ, and the World Bank, for assistance. Deputy Governor (BoG), SOME KEY DATES 3. Dr Sam Dufu, President of ARB The consultants from the Philippines 4. Dr (Mrs) Gloria Nikoi, Vice Messrs. SGV & Co. were commissioned in 1996, to study the situation of the Rural President of ARB Banks and recommend solutions. The 5. Mr Jacob B. Yirerong, Secretary JULY 9, 1976 report by the consultants on the study of ARB recommended that an “apex” 6. Dr Kwaku Ayimedu, Ministry of The date on which institution should be put up for the Rural Finance the first Rural Bank, Banks to provide technical, managerial 7. Mr Stephen Ameyaw, (BoG) Agona Nyakrom Rural and financial support to the banks. 8. Mr Samuel Donkor, Retired Bank, was born. Banker To consolidate and improve upon 9. Mr Emmanuel Kwapong (Acting the recommendations in the SGV & Co.’s report, and present it in a form Managing Director) that could be implemented, the ARB with Later, when Dr Duffuor left the BoG, funding from the Bank of Ghana and The Mr Asiedu-Mante assumed the Government commissioned Messrs J. S. Chairmanship of the TASC. Addo Consultants in April 1998, to prepare 1981 a feasibility report and business plan for Incorporation of ARB Apex Bank the establishment of an Apex Bank for the The ARB Apex Bank was incorporated 31 Rural Banks came Rural Banks. The final report submitted in on January 5, 2000. The shareholders together to form the Rural December 1998, concluded that the Bankers’ Association, Apex Bank should be established. were all the Rural and Community Banks and the which was later renamed Association of Rural There was jubilation within the Association of Rural Banks (ARB). national secretariat of the Association of The Bank begun operations in July Banks. Rural Banks (ARB). The next task was 2002. At the first Annual General to get the commitment of all the Rural Meeting (AGM) of the ARB Apex Banks, their directors and shareholders to Bank in 2003, a new Board wholeheartedly was elected to replace the TASC. The support the establishment of the Apex Board was made up of representatives SEP. 22, 1998 Bank. of the Regional Chapters of the An Interim Board of ARB Apex Bank Association (ARB), one representative each of the Association of Rural Directors known as The Messrs J. S. Addo report stated the the Transition Apex mission of the ARB Apex Bank Ltd as Banks, the Bank of Ghana and the Steering Committee follows: Ministry of Finance. (TASC) is constituted. “to provide certain banking and non- Two members from the ARB, banking support services to the rural banks with the aim of improving Dr (Mrs) Gloria Nikoi, Mr J. B. their operational efficiency and customer Yirerong and Dr Sam Dufu services”. were all elected Directors of the ARB Apex Bank to represent various At that stage, the Apex Bank concept Regional Chapters of the ARB. Dr had gained the attention of major (Mrs) Gloria Nikoi was subsequently JAN. 5, 2000 international development partners. elected the Chairman of ARB Apex
The ARB in collaboration with the Bank. Dr. Sam Dufu continued to The date on which Bank of Ghana (BoG), African serve as Director of the ARB Apex ARB Apex Bank was Bank for four more years before incorporated. The Development Bank (AfDB), and Bank then begun International fund for Agricultural becoming the Chairman of the ARB Apex Bank in 2007 and served in that operation in July Development (IFAD), initiated the 2002. setting up of the ARB Apex Bank. capacity for three years till 2009, The Apex Bank would also function when he finally retired from active as a mini-central bank for Rural service in Rural Banking. Banks. An interim Board of Directors known as the Transition Apex Steering Achievements and Challenges of the Committee (TASC) was constituted ARB Apex Bank (2007 – 2010) on 22nd September 1998, and tasked 2003 with the responsibility of establishing a. The Bank benefited the Apex Bank. The membership of the from the Millennium ARB Apex Bank holds its TASC was as follows: Challenge Corporation Compact maiden Annual General for the computerization of Meeting (AGM) at which a 1. Dr Kwabena Duffuor, Governor RCBs’ operations and the new Board was elected to of BoG (Chairman) establishment of a Wide Area replace 2. Mr Emmanuel Asiedu-Mante, Network (WAN) to connect all TASC.
16 AN ARB APEX BANK QUARTERLY Q4, 2018 Issue The Rural Banker 4
RCBs to the ARB Apex Bank. team. SPECIAL LANDMARKS
b. The Bank successfully b. ARB Apex Bank grappled with 1975: Rural Banking Idea. negotiated with Western Union re-capitalization issues of the 1976: Birth of Rural to introduce inward money Bank, and sent a memorandum Banking in Ghana. transfer through the Bank and to the Government to assist in 1981: Five RCBs Opened. the RCBs. recapitalizing the Bank with the 1981: Association of Rural shortfall in its capital structure. Banks formed. c. The Apex Bank Domestic 1985: Constitution of Money Transfer, the c. ARB Apex Bank could not set Rural Banks ApexLink, and the less up the Inspectorate Developed. successful Efie ne Efie Department of the Bank due to 1991: RUFINSAP. (Home Cash) Products were lack of funding and appealed to 1994: Specie & Clearing introduced. the Government Services to CBs to assist with the required 1996: Messrs. SGV & Co Attempts were also made to resolve funding. Commissioned. the following challenges: 1998: Messrs J. S. a. The Bank had to review its Conclusion Addo Consultants earlier policy to rescue It is imperative to note that any good Commissioned all distressed RCBs, when the project would endure and thrive 1998: Transition Apex rescue of Dumpong Rural Bank when given the required Steering Committee in 2004 and Tano Rural Bank commitment and nurturing. It is set up. in 2006 led to heavy losses for gratifying to note that from the 2000: Incorporaation of the ARB Apex Bank. Therefore, humble beginnings in 1976, with ARB Apex Bank. in 2008, when Atobiase Agona Nyakrom Rural Bank, there 2002: ARB Apex Bank Area Rural Bank had are presently 144 licensed Rural and Begins Operations. liquidity challenges, the Community Banks in the country, 2003: ARB Apex Bank Apex Bank could not commit each with an average of about 5 holds maiden funds to assist rescue it. Agencies or branches, making it the Annual General largest network of banks (more Meeting. Rather, ARB Apex Bank than 700 branches) in the country, 2007: Dr Sam Dufu decided to use the analysis of providing banking services in most becomes Board the prudential returns by the remote areas of the country, and Chair. Efficiency Monitoring Unit to that there is a mini central bank, the 2010: Dr Sam Dufu take pre-emptive steps when the ARB Apex Bank, providing banking Retires. RCB got an unsatisfactory rating, and non-banking support services 2018: RCBs Grow to 144. by sending in an inspection for them.
Board Chairmen of ARB Apex Bank
Mr Emmanuel Asiedu-Mante Dr (Mrs) Gloria Nikoi Dr Sam Dufu 1999 - 2003 2004 - 2006 2007 - 2009
Mr Nathaniel Arthur MrMr Nathaniel Francis Arthur Akoto Mr James Kwame Otieku 2010 - 2012 20132010 -- 20122015 2016 -
Q4, 2018 AN ARB APEX BANK QUARTERLY 17 Issue Issue 44 THE THE RURAL RURAL BANKER BANKER
implementation of the Hayat also holds a Bank’s strategy at the Master of Business tactical and operational PROFITS ARE Administration (MBA), levels of the Bank”. Finance option from the Ghana Campus of Sikkim He added that “the Bank Manipal University – India has deployed the needed (Distance Learning). IT infrastructure, which SOARING AT always helps in delivering The versatile General on the expectations of our Manager who was stakeholders”. appointed to the role BUCOBANK after the then incumbent He said “as a way of Abu Elisha Tubigah demonstrating our Sando retired in 2012, commitment to the HERE IS WHY THEY ARE FAST is currently a Level 200 communities in which Bachelor of Laws (LLB) we operate, we always Degree student at the give a token back to them BECOMING AN INDUSTRY University of London. through the allocation of five (5) percent of BENCHMARK He is married to Osman the profit after tax Rashida and they are for Corporate Social blessed with three Responsibility activities Hayatudeen Awudu Ibrahim is the Chief Servant. adorable daughters; which has helped us Born on November 6, 1982 at Bawku in the Upper Ubaidatu, Suraiya and to support numerous Hafsat. developmental projects East Region, Hayatudeen Awudu Ibrahim, who within our catchment became General Manager of Builsa Community BucoBank riding the areas”. Bank (BucoBank) in 2012, had his basic education waves Hayat revealed that at Gingande Primary and Junior High School in the Hayat listed the following rebranding from Builsa Bawku Municipality and proceeded to the Bawku key ingredients as the Community Bank to drivers of the impressive BucoBank begun in 2016, Senior High School for his second cycle education. performance of Buco Bank adding that the benefits over the past years. of the rebranding exercise have been enormous. e proceeded to Kumasi First is the institution of a Polytechnic, where he competent team of Board “We have successfully studied and successfully and Management, leading used the rebranding to completed the Level 1 the entire workforce with counter the erroneous of the professional a clear vision and sense impression as well as our programme of the of direction, adding that, competitors’ messages to H “we have a Strategic existing and prospective Institute of Chartered Accountants – Plan with an elaborate business partners Ghana (ICAG) in 2004. vision and mission, that ‘Builsa Community which resonates with the Bank’ is a Bank for the Hayat as he is affectionately called, entire team and so we people of ‘Builsa’, which joined BucoBbank on July 1, 2005 always ensure to pursue hitherto was one of our initially as a Chief Clerk. coordinated activities and biggest challenge”, he programmes that deliver stated. on our strategic goals”. He rose through the ranks to Communities embrace the position of Internal Auditor, He also stated that “we new image then to Operations and Finance have comprehensive Manager before he was appointed systems, policies and Shareholders resisted as the Deputy General Manager procedures that guide the the move initially but the and later General Manager. Board, Management and Board and Management Staff in decision making”. tactfully argued that Whilst with the Bank, he qualified “Bucobank” was only an as a Chartered Accountant The workforce acronym of the registered (CA) and was duly admitted to at BucoBank, “is name “Builsa Community membership of the ICAG in the highly trained and Bank”. We succeeded in year 2012 and 2013 respectively. motivated, leading the changing our old Pg. 20
1818 AN AN ARB ARB APEX APEX BANK BANK QUARTERLY QUARTERLY Q4,Q4, 2018 2018 Issue The Rural Banker 4
Mr Hayatudeen Awudu Ibrahim, General Manager of Buco Bank in a pose with Mrs Akanbangbiem Agamu Asokea, Board Chair of the Bank Q4, 2018 AN ARB APEX BANK QUARTERLY 19 An ARB Apex Bank Quarterly Issue 4 THE RURAL BANKER
logo to bring it up to speed traditional savings products and respect for divergent with contemporary brand to our clients. It also offers opinions and as such we features. various solutions “with our take decisions as a team at wide range of flexible credit all times”. He indicated that even facilities for individuals though the name is still and SMEs in our catchment He added that “we supervise It is humbling and “Builsa Community Bank area”. and provide our staff with our brand touch points the needed support and motivating for our emphasized the Bucobank In partnership with ARB build their capacities on team that within in communicating with Apex Bank and other RCBs continuous bases, which stakeholders, which has nationwide it also provides helps in delivering on the the few years of since positioned us ahead the domestic remittance needed solutions that of our competitors”. service known as i-Trans address the challenges of our existence, we (formerly Apex Link). our communities over the Hayat stated that “it is outperformed our It also provides automated years. Consequently, the humbling and motivating support from the Board, for our team that within teller machines (ATMs), colleagues and Mobile App solution Management and Staff has the few years of our been excellent thus far”. have become the existence, we outperformed (U-Connect) and E-Zwich, our colleagues and have which provides its myriad Mrs Akanbangbiem Agamu reference point become the reference clients with 24/7 banking Asokea Leads the Vision at for excellence in point for excellence in services. Buco Bank rural banking within the Directors lead the way Rural Banking three (3) regions of the According to Mrs north. We always share our Hayat who was full of Akanbangbiem Agamu within the three success stories with our praise for the Board said Asokea, the first female colleagues and we shall the “Directors have so Board Chair of the Builsa (3) regions of the continue to offer them the much confidence in the Community Bank, it takes north. necessary support, to build Management team, driving a blend of talent and a strong RCB for enhanced the vision of the Bank and experience in critical financial inclusion, have always provided the areas such as Banking and economic development and needed policy directions Finance, Law, Accounting eradication of poverty in the with effective monitoring and Auditing, HR, Risk Upper East Region and the and accountability Management, Corporate nation Ghana”. mechanisms”. Governance, to be able to steer the affairs of the Product and Service At the Management corporate boardroom offerings level “we have created effectively. an atmosphere that Bucobank provides encourages ingenuity She indicated that the
From left to right: Mr Kenneth Lawine - IT Manager, Mr Romanus Abaala - Ag. Head of Internal Audit, Mr Yahaya Issah Apase - Risk and Compliance Of- ficer,20 Alhaji AN ARBHayatudeen APEX BANK Awudu QUARTERLY Ibrahim - General Manager, Mr Richard Ajuik - Deputy General Manager, Mr Abugah M. Musah - Finance and OperationsQ4, 2018 Manager, Mr Justin Ayaribisa - Credit Manager Issue The Rural Banker 4
Q4, 2018 AN ARB APEX BANK QUARTERLY 21 Issue 4 THE RURAL BANKER
Hayatudeen Awudu Ibrahim, flanked by staff of Buco Bank at the recently held Rural Banking Excellence Awards.
best way to succeed was Management team”. “meetings of the Board and functions of the Board to put in place effective Mrs Asokea noted that other Board functions are Secretary and that of the and adequate structures carried out in line with the General Manager, which with competent Board although she was new to the Chair “at my Bank, I requirements of the law and were being handled by one members to guide the the Corporate Governance person in line with best critical functions of the believe that we have to work hard to put in place Systems of the Bank have practice and Company Law Bank, adding that, the significantly improved”. of Ghana”. Boards must “develop and a succession plan for the approve comprehensive Board, General Manager “We have also ensured Finally, “we have introduced policies and procedures and officers occupying that Directors participate a year-long Board and for all the critical activities critical positions within fully in all decision making Committee meetings of the Bank and empower the Bank”, to ensure processes at the Bank”, she calendar, which has Management with the continuity in the strategic added. helped in the planning and necessary resources to direction of the Bank. execution of meetings”. implement same”. She expressed her She added that, her team gratitude to the other was ensuring the allocation Looking into the Future “We have ensured that the of adequate resources Bank’s operations are in members of the Board as Mrs Akanbangbiem Agamu well as the Shareholders for the training and Asokea believes that, “the line with the relevant laws development of Directors, of the country and best “for the opportunity future of Builsa Community offered me to chair this to build their capacity Bank is very bright because practices at all times”, she on contemporary issues revealed. dynamic Board”. of the cooperation between affecting the banking the Board and Management Mrs Asokea advised Innovations industry. of the Bank”. Directors of sister Rural and The experienced Banker, “Board members are Community Banks (RCBs) She revealed that “the Board who rose to become Head furnished with the minutes will continue to provide the to “establish a climate of of Legal at GCB Bank and other meeting papers mutual trust and respect needed strategy and policy before her retirement, a week before the date direction to Management, between the Board and stated that “within the few of scheduled meetings, a Management”. to ensure that the Bank months that I assumed practice which has since takes advantage of all She also advised Directors the Chairmanship of the enriched the quality and the opportunities in the to put in “appropriate Board, a lot has changed timeliness of the discussions communities in which we performance indicators in the Boardroom and I am and decisions at meetings”, operate and continues to monitor and assess excited to share just a few she revealed. to remain relevant in the of them”. the performance of the Also, “we have implemented economic development our General Manager and the According to her, the separation of the communities”.
22 AN ARB APEX BANK QUARTERLY Q4, 2018 Issue The Rural Banker 4
+233 24 422 0247
DATE: 28th – 29th August PROGRAMME: Selling in Action (Reloaded) FEES PER PARTICIPANT: 1,000 VENUE: Golden Bean Hotel, Kumasi DATE: 28th – 29th May DATE: 4th – 5th September PROGRAMME: Essentials for Success in the PROGRAMME: Essentials for Success in the CIMG 2019 TRAININGBusiness Environment (Negotiation &PROGRAMMES Ethical Business Environment (Negotiation & Ethicl Business) Business) Accra FEES PER PARTICIPANT: 1,200 FEES PER PARTICIPANT: 1,200 DATE: 13th - 14th Feb VENUE: Golden Tulip Hotel VENUE: Coconut Grove Hotel, Accra PROGRAMME: Selling In Action FEES PER PARTICIPANT: 1,000 DATE: 13th – 14th June DATE: 19th -20th September VENUE: Coconut Grove Hotel, Accra PROGRAMME: Essentials for Success in the PROGRAMME: Selling in Action (Reloaded) Business Environment (Negotiations & Ethical FEES PER PARTICIPANT: 1,000 DATE: 13th – 14th March Business) VENUE: Protea Hotel, Takoradi PROGRAMME: Techniques for Customer FEES PER PARTICIPANT: 1,200 Experience Management VENUE: Golden Bean Hotel DATE: 16th – 17th October FEES PER PARTICIPANT: 1,000 PROGRAMME: Techniques for Customer VENUE: Coconut Grove Hotel, Accra DATE: 26th - 27th June Experience Management (Reloaded) Takoradi PROGRAMME: Master Class – Psychometric FEES PER PARTICIPANT: 1,000 DATE: 27th – 28th March Assessments VENUE: Coconut Grove Hotel, Accra PROGRAMME: Techniques for Customer FEES PER PARTICIPANT: 1,500 Experience Management (Reloaded) VENUE: Golden Tulip Hotel, Accra DATE: 30th – 31st October FEES PER PARTICIPANT: 1,000 PROGRAMME: Advanced Techniques VENUE: Golden Bean Hotel, Kumasi DATE: 10th – 11th July for Customer Experience Management PROGRAMME: Advanced Techniques for (Reloaded) DATE: 10th – 11th April Customer Experience Management FEES PER PARTICIPANT: 1,000 PROGRAMME: Selling In Action FEES PER PARTICIPANT: 1,200 VENUE: Golden Bean, Kumasi FEES PER PARTICIPANT: 1,000 VENUE: Coconut Grove Hotel, Accra VENUE: Golden Bean Hotel, Kumasi DATE: 13th – 14th November DATE: 30th – 31st July PROGRAMME: Developing a Compelling and DATE: 25th – 26th April PROGRAMME: Selling In Action (Reloaded) Workable Marketing Strategy PROGRAMME: Techniques for Customer FEES PER PARTICIPANT: 1,000 FEES PER PARTICIPANT: 1,200 Experience Management (Reloaded) VENUE: Coconut Grove Hotel, Accra VENUE: Coconut Grove Hotel, Accra. FEES PER PARTICIPANT: 1,000 VENUE: Protea Hotel, Takoradi DATE: 14th – 15th August DATE: 28th – 29th November PROGRAMME: Advanced Techniques PROGRAMME: Developing a Compelling and DATE: 15th - 16th May for Customer Experience Management Workable Marketing Strategy PROGRAMME: Selling in Action (Reloaded) FEES PER PARTICIPANT: 1,200 FEES PER PARTICIPANT: 1,000 FEES PER PARTICIPANT: 1,200 VENUE: Golden Bean Hotel, Kumasi VENUE: Protea Hotel, Takoradi VENUE: Golden Bean Hotel, Kumasi
Q4, 2018Behind Coastal Estates, Adjacent Sheridan Hotel - Spintex Road, Baatsona | GT-345-6223 | P.O.Box AN ARBGP 18235, APEX BANK Accra-Ghana QUARTERLY 23 Tel: *2464 | Mob: +233-24-422-0427 / +233-20-817-7752 | Email: [email protected] Issue 4 THE RURAL BANKER BUCOBANK GIVES BACK TO COMMUNITY
Before & After Pictures a project financed by Bucobank
Before After
24 AN ARB APEX BANK QUARTERLY Q4, 2018 Issue The Rural Banker 4
Mr Daniel Ohene Kwaku Owusu, President-elect, Association of Rural Banks PRESIDENT-ELECT, DANIEL OHENE KWAKU OWUSU, OUTLINES HIS VISION
though, the Association of Rural He indicated that he has also n his acceptance Banks (ARB) had put them at the served as a Director of the South Speech, Mr helm of affairs, they derived their Akim Rural Bank for many years Daniel Ohene powers and authority from the and served on the Boards of other Kwaku Owusu, members, adding that, “whenever reputable institutions in the the President- we call on any of you, do not country adding that, “I think this I Elect, thanked the hesitate to bring your expertise to is the right set of experience we outgoing President, Dr bear for the effective running of need at this moment”. Nana Akowuah Boamah, the Association”. his council members and Special Focus all participants for the Mr Owusu assured the confidence reposed in him. participants that there would be a Mr Owusu indicated that his vast improvement in the activities tenure would have a special focus and the outlook of the Association. on strengthening the advocacy He pledged to harness Having worked with the Bank of role of the Association of Rural the expertise of all Ghana for 30 years and rising Banks to ensure that, “any the members of the to a Directorship position at the regulations for the financial sector elected council to Central Bank, Mr Owusu believes may have a special consideration help improve the that he is imbued with the right for the Rural Banks because of activities of the set of experience to steer the their special focus on deepening Association. affairs of the Association for the rural financial inclusion in the next two years. country”. He indicated that even
Q4, 2018 AN ARB APEX BANK QUARTERLY 25 Issue 4 THE RURAL BANKER
He stated that because frameworks designed Friday, November of the changing focus of for the banking sector. 23 to Saturday, banking in the country, November 24, he would also pay a He stated that, he 2018, after his main special attention to would work with contender, Dr Yaw Agency Banking as well the newly elected Amakye voluntarily as strengthening training team to review the withdrew from the in the areas of Risk Constitution of the race before the Management, Corporate Association to ensure ballot was cast. Governance, Liquidity it meets the changing of Funds Management needs of the banking as well as improving the industry. Credit Delivery Systems for our member banks. Mr Daniel Ohene Kwaku Owusu was The President-Elect, who elected by popular is also the President of acclamation at the the Eastern Chapter, 20th Biennial General noted that he would Meeting (BGM) held ensure that the banks at the auditorium adhere to all the of the Bolgatanga prudential and legal Polytechnic from
DR FRANCIS ABOAGYE OKYERE
OtherLA Members COMMUNITY of the Executive Committee BANKVice President AD
AKANBANGBIEM AGAMU ASOKEA MARTIN MIREKU AKWESI ADUSEI POKU Secretary Legal Advisor Treasurer
26 AN ARB APEX BANK QUARTERLY Q4, 2018 Issue The Rural Banker 4
Q4, 2018 AN ARB APEX BANK QUARTERLY 27 Issue 4 THE RURAL BANKER
qualified team, a from Maastricht competitive advantage School of Management through their in the Netherlands. He product and service is also a member of offerings, a location Chartered Institute of advantage and other Bankers, Ghana. core advantages that according to Dealing with the the GM, would keep Competition FIASEMAN them ahead of other According to competitors for years Mr Donkor, the to come. Western Region is a highly competitive RURAL Management environment in terms Mr Kaedabi Donkor, of banking in general General Manager, as well as the buoyant leads the team of local economy. He well-qualified staff indicated that, “it BANK at the Bank. He therefore takes hard assumed the helm at work, commitment Fiaseman Rural Bank and dedication to be A TOP-NOTCH RURAL in September 2017, counted among the having earlier worked best”. He indicated BANK WITH RICH HISTORY at Agona Rural Bank, that the following Speed Funding Facility products, amongst Limited, Global Access others, set Fiaseman Established in 1983 at Bogoso in the Western Savings and Loans Rural Bank apart from Region, Fiaseman Rural Bank has become a Company Limited, the competition: top-notch Bank, headquartered at Bogoso. and Brakwa Breman Rural Bank as General a. Cutting Edge Products The Bank currently has eleven branches, Manager. He has He revealed that their a total of 12 years located at Bogoso, Prestea, Tarkwa, Aboso, working experience in products have been Huni Valley, Darmang, Ateiku, Tamso, Sikafie the financial services uniquely tailored to sector. He revealed meet the needs of – Bogoso, Bawdie and Takoradi. that, despite having their customers. For been with the Bank example, the Bank’s for a little over a Finance Operate year, together with Recover and Transfer the team, they have (FORT) product, which he Bank is been able to achieve is tailored to suit project headed by a a lot. According to financing, Golden nine-member him, the collective Savings, which attracts Board, chaired effort resulted in the a higher interest rates, by Osagyefo Bank receiving five and One Touch Loan, Amanfo Edu awards as well as which is specifically VI and a nine-member being adjudged as the designed for non- T overall best Bank at management team, led rd customers of the Bank, by Mr Kaedabi Donkor, the 3 Rural Banking etc. General Manager (GM) of Excellence Awards the Bank. organized by the b. Good Customer Care Association of Rural Practices Banks in Bolgatanga According to him, in the Upper East Fiaseman Rural Bank The Rural Banker, in an Region. is noted for its quick extensive interaction turnaround time with the GM, gathered He holds a Master of in terms of serving that the Bank is Science (MSc) degree customers at the well grounded in its in Microfinance from banking hall. “It is a service offering and the University of Cape positioning and is set practice in this Bank Coast, a Bachelor of that customers do not to become one of the Commerce (BCom) best banks in Ghana. spend more than 10 degree from the same minutes at the banking University, and a Post It was revealed that halls during peak Graduate Diploma in periods. the Bank had a well- Financial Management Pg. 30
28 AN ARB APEX BANK QUARTERLY Q4, 2018 Issue The Rural Banker 4
Kaedabi Donkor, General Manager of Fiaseman Rural Bank and Osagefo Amanfo Edu VI show an award the Bank picked up at the Chamber of Commerce & Industry Awards Q4, 2018 AN ARB APEX BANK QUARTERLY 29 29 An ARB Apex Bank Quarterly Issue 4 THE RURAL BANKER
We also leverage on of Directors said, “the been experiencing Social Media (Facebook Board is made up of highly higher growth rates in all and WhatsApp) and qualified individuals with performance indicators, The Board is other communication diverse backgrounds in a situation which made outlets (SMS and Accounting and Finance, them feel very welcome made up of dedicated lines) to make Entrepreneurship, in the metropolitan, us easily accessible to Education, Law, etc; a blend municipal and districts highly qualified our customers. We also of experience which helps assemblies (MMDAs) individuals provide quick responses the Directors to make the where their branches to customer queries”, he right decisions on behalf of were located. with diverse revealed. the Bank”. He stated that the Bank had also complied He indicated that the backgrounds with all the Bank of Ghana awards and other c. Experienced and Dedicated accolades conferred in Accounting Staff (BoG) and ARB Apex Bank on the Bank were real In respect of the staff, he Directives and Regulations. because the awarding and Finance, stressed the “commitment institutions were Entrepreneurship, and dedication as the Fiaseman’s Success reputable, adding that, hallmark of our staff”. He According to Mr Donkor, “we are talking about Education, Law, stated that the staff of the the success of Fiaseman the Association of Rural Bank are highly educated, Rural Bank can be Banks, Ghana National etc; a blend of qualified and very much attributed to the mutually Chamber of Commerce experience which dedicated to their duties, beneficial relationship and Industry and Ghana adding that “the Bank also between the Bank and Investment Promotion helps the Directors takes training seriously its esteemed customers. Centre whose criteria for and spends substantial He noted that the Bank selecting awardees are of to make the right amounts of money to train defined its success very high standards”. decisions on the staff to deliver to the “through the satisfaction optimum”. our customers derive He added that Fiaseman from our products and Rural Bank was behalf of the Bank. services”. d. Good Corporate collaborating with Twifo Governance Practices Rural Bank, through the He revealed that the acquisition of a majority Mr Donkor who was full Bank had over the period of praise for his Board stake in that Bank, Pg. 32
FROM LEFT TO RIGHT: Dzidedi Sylvanus Ohene, Head - Compliance, Risk & Monitoring, Vincent Koffie Adjei Abutiate, Head - Relationship Banking/ PRO, Peter Damuah, Head - HR & Administration, Alhaj Al-hassan Adam, Head - Accounts & Operations, Kaedabi Donkor, - General Manager, Samuel 30 Asare, AN Head ARB APEX- Credit, BANK Gabriel QUARTERLY Amuah, Head - Microfinance & SME, Leeyoung Akwesi Bukurow, Head - Audit Stephen Amoakah Archer, DeputyQ4, 2018 General Manager Issue The Rural Banker 4
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Deposit Products a. Golden Savings – standing order product for both existing and new customers of the Bank aimed at encouraging customers to save over a fixed period. b. Asetenapa Susu – door-to-door deposit mobilization aimed at reaching out to the unbanked and also those who do not have the time to visit the banking hall. c. Savings – deposit product aimed at encouraging thrift among customers. d. Current Account – cheque bearing account essentially meant for businesses and individuals for the purposes of facilitating business transactions and also drawing of monthly Osagyefo Amanfo Edu VI, Board Chair in a pose with Paulina salaries. Patience Abayage, Upper East Regional Minister e. Trust Account – Savings account held on behalf of kids
Credit Products “a first by a Rural Bank to the vision of the Bank years”. a. One Touch Loan in the country, which is and will stop at nothing He admitted that any – an instant loan for another testament to our at ensuring that our Bank challenges in the mining Government workers who success”. remains the best in the sector would therefore draw their salaries from the industry”. have a knock on effect on He said another reason for Controller and Accountant He stated that the Bank businesses in the Region “of General’s Department. “which we are doing well is was able to come this far which Fiaseman Rural Bank that we are a fully compliant because “it consciously is not an exception”. b. Salary Loan – loan for Bank, adhering strictly to all recruits, trains and He stated that the Bank workers who draw their regulatory requirements. We develops highly motivated has over the years salary from the Bank. believe that this is the reason personnel to drive the diversified its operations why the ARB Apex Bank, Fiaseman agenda of into the other sectors of c. Commercial Loan – loan the “mini” Central Bank of establishing itself as the local economy, such granted to individuals and the RCBs has consistently the leader in the Rural as the Cocoa and small businesses who are into classified us in the strong Banking fraternity”. and medium enterprise commercial activities. category in their quarterly (SMEs) support, which has d. Transport Loan – granted Efficiency Monitoring Unit Effects of Artisanal cushioned them during the to persons in the transport (EMU) report”. Mining on the Bank’s period of the ban on small business for the acquisition Operations scale or “artisanal” mining of vehicles for commercial Team Advantage According to him, in the and the general downturn purposes. He prides himself in the Western Region, the in the mining industry. support of a solid team at extraction activities of e. Cocoa Loan – loan for the Bank, touting the team mineral resources tended Fiaseman’s Product mainly Cocoa farmers as “a very formidable team, to fuel the local economy Bouquet for the purpose of farm headed by my good self and in which the Rural Banks The following are maintenance and farm supported by the Deputy operate, adding that, “with some of the Bank’s inputs. General Manager, Mr the appropriate strategies, products, which have Stephen Archer and other any business operating f. Nnoboa Loan – A group been uniquely tailored lending facility. able heads-of-department”. here could cash in on the to meet the needs of He proudly said of his team, economic opportunities and customers: g. Asetenapa Susu Loan – “we have a high calibre this is exactly what Fiaseman granted to the Asetenapa team which is committed Rural Bank has done over the Susu clients
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h. FORT (Finance Operate Osagyefo Amanfo Edu’s valued at GH¢25,495.73 Recover Transfer). Board Leads the Way (Twenty-Five Thousand, Investment Products The strategic direction of Four Hundred and Ninety- a. Fixed Deposit – the Bank is spearheaded Five Ghana Cedis and investing over a fixed by a seven-member Board Seventy-Three Pesewas) term period of Directors, chaired by at Prestea. Osagyefo Amanfo Edu b. Anidasoo Fixed VI. His safe pair of hands c. Construction of a Deposit – fixed term have helped the Bank to 12-seater water closet investment with chalk many firsts. We had toilet facility for St. interest higher than the a chat with him and bring Augustine’s Senior Treasury Bill rate you excerpts. High School, valued at GH¢51,267.26 (Fifty-One Electronic Products Osagyefo Amanfo Edu VI Thousand, Two Hundred a. U-Connect has been Board Chairman and Sixty-Seven Ghana b. I-Trans of Fiaseman Rural Bank Cedis and Twenty-Six c. E-Zwich for the past 15 years. Pesewas) at Bogoso. Osagyefo d. Automated Teller Under his watch, the Machines (ATMs) Bank had witnessed d. Refurbishment of the Amanfo Edu e. I-Deposit tremendous growth. He Residential flat at the VI has been f. Western Union ensured that some of the Bogoso Police Station, Money Transfer wealth created by the valued at GH¢24,887.10 Board Chairman g. Mobile Money Bank were transferred (Twenty-Four Thousand, Transfer to members of the Eight Hundred and of Fiaseman communities in which Eighty-Eight Ghana Cedis Conclusion they operated through and Ten Pesewas) at Rural Bank targeted corporate social Bogoso. He indicated that responsibility (CSR) for the past 15 Fiaseman Rural Bank programmes. e. Refurbishment of the years. Under his would have been doing Under his leadership out-patients department far better if the road therefore, the Bank had (OPD) at the Bogoso watch, the Bank network in the Region been concentrating Health Centre, valued was improved. He also its CSR efforts on four at GH¢63,622.10 (Sixty- had witnessed indicated that the general thematic areas, namely, Three Thousand, Six tremendous downturn in the financial Education, Health, Hundred and Twenty-Two services sector was Community Development Ghana Cedis and Ten growth. having a spillover effect and Agriculture. Pesewas) at Bogoso. on the Bank. Fiaseman Rural Bank spent a total of f. Construction of a He expressed his GH¢361,820.52 (Three 10-seater water closet appreciation to God, the Hundred and Sixty-One toilet facility for Fiaseman esteemed customers of Thousand, Eight Hundred Senior High School, the Bank, the Directors, and Twenty Ghana Cedis, valued at GH¢73,093.77 Management and Fifty-Two Pesewas) on (Seventy-Three Thousand, Staff for their support, these strategic CSR Ninety-Three Ghana dedication and hard work areas. Cedis and Seventy-Seven over the period and called Pesewas) at Tarkwa. for more support for his Some of the specific projects covered under g. Provision of 4-seater strategies in the coming the CSR programmes water closet facility, two years. include: bathrooms, an overhead structure facility, and a He was also full or praise a. Construction of a bath septic tank, valued at for his predecessor house for Huni Valley GH¢65,711.15 (Sixty- General Managers: Mr Senior High School, Five Thousand, Seven Jacob Nti, Mr Emmanuel valued at GH¢14,543.41 Hundred and Eleven K. Brempong and (Fourteen Thousand Five Ghana Cedis and Fifteen finally Mr Evans Aidoo Hundred and Forty-Three Pesewas) at Huni Valley. Ghana Cedis and Forty- for their contributions h. Provision of three to the success story One Pesewas) at Huni Valley. mechanized boreholes of Fiaseman Rural at Afuke, Jamoransa and Bank. He wished all b. Construction of a Nkwanta at the total cost their stakeholders a six-seater water closet of GH¢43,200 (Forty- merry Christmas and a toilet facility for Prestea Three Thousand Two prosperous New Year. Senior High School, Hundred Ghana Cedis).
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Special Focus on Coast and was also a and would therefore xvii. Strategic Plan Education member of the Chartered continue to be a reference xviii. KYC Policy As could be seen above, Institute of Purchasing point for Rural Banking in until the introduction and Supply, UK. Ghana. d. They should be very of the Free Senior High An educationist, transparent in dealing School policy in the he taught Business Advice to Fellow with Management and country last academic programmes from 1986 Directors staff. year, Fiaseman Rural to 1990. He indicated that it was e. They must always Bank was offering not easy being a good He revealed that he seek for the interest scholarships to the wards Director and asked of their banks and of its Shareholders in was employed to the colleague Directors to Purchasing and Supply not personal vested Senior High Schools put in place the following interests. and selected Tertiary Department of Golden measures to help their Institutions. The Star Resources, a multi- banks succeed: f. There is this breakdown of the National Company management where he acquired a lot a. They must put scholarship is as follows: in place strong principle, which says of experience, which he that “the effectiveness a. Second cycle – 30 has transferred to the effective and efficient governance practices. of a leader depends on students are offered Boardroom at Fiaseman the ability to hire, fire, scholarship at the Rural Bank. b. They must be reward and punish” secondary level annually knowledgeable in the Board should not b. Tertiary – 15 students He stated some of the corporate governance, compromise on this are offered scholarship at best practices he has especially some of the principle. the Tertiary Level annually transferred to Fiaseman key provisions that Rural Bank as follows: apply to RCB in the The Bank spends an Companies Code average of GH¢250,000 a. Profitable Time on CSR annually. Management – Setting c. As part of the Time frame on key Corporate Governance Challenges of Leading a goals, objectives and practices, they should Diverse Board activities ensure that the Osagyefo Amanfo Edu following policies and b. Human Capital procedures are put VI, joined the Board of Development – brought Fiaseman Rural Bank in place. They should on board what pertains also ensure a strict when the Bank of in the mining industry Ghana (BoG) dissolved compliance regime in relation to rewards such as: the previous Board in and punishment 2003 and appointed a i. Operational Policy seven-member Interim c. Policies and ii. Investment policy Management Committee Procedures – Ensuring iii. Asset Policy (IMC) to help restructure introduction and iv. Credit Policy the Bank. adherence to policies v. Products Manual and procedures vi. HR Policy After about a year in d. New products vii. Liquidity office, an Annual General Contingency Policy Meeting (AGM) was and new branches – Continuous viii. AML/CFT Risk held and the members Assessment Policy were elected to full introduction of new products and ix. AML Recognition directorship. Osagyefo Reporting Amanfo Edu VI was then departments/branches with efficient and x. Procurement elected as Board Chair Policy and continued to be re- effective Marketing Department xi. ICT Policy elected as the Chairman xii. Directors’ Code of ever since. He added that he hoped Conduct Touting his rich resume, some of these best xiii. Business he told The Rural Banker practices would ensure Continuity Plan that he holds a degree in that Fiaseman Rural Bank xiv. Reconciliation Accounting and an MBA would continue to be an policy in Entrepreneurship from established leader in the xv. Audit Policy the University of Cape Rural Banking industry xvi. Audit Charter
34 AN ARB APEX BANK QUARTERLY Q4, 2018 Issue The Rural Banker 4 Fiaseman Rural Bank: A Socially Responsible Bank
10 seater WC toilet facility built for Fiaseman Senior High School in Tarkwa at a cost of GH¢ 73,000.00
Donation of items to the Prestea Huni Valley Municipal Assembly Items donated to one of the Municipal Assemblies in our catchment towards the 34th farmers day celebrations area on display at the farmers’ day celebrations
Presentation of a cheque of GH¢ 15,00.00 to the children’s ward of Presentation of a poly tank to Ghana Police Service, Asankrangwa Komfo Anokye teaching hospital, Kumasi to cover the surgery cost of Divisional Depot little Akosua Owusua who accidentally drunk costic soda
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36 AN ARB APEX BANK QUARTERLY Q4, 2018 Issue The Rural Banker 4 UPPER EAST REGIONAL MINISTER WOOS INVESTORS The Upper East Regional Minister, Paulina Patience Abayage, who was the guest speaker at the 20th Biennial General Meeeting of the Association of Rural Banks in Bolgatanga, has appealed to Rural and Community Banks in the country to support President Nana Addo Dankwa Akufo-Addo to achieve the Ghana Beyond Aid Vision.
Ghana Beyond Aid, he Regional but would also help Minister made empower the rural the call during folks who formed the 20th Biennial the bulk of the General Meeting nation’s population. T of the Association of Rural Banks ARB-Ghana Ms Abayage held at the Conference Hall of commended the Bolgatanga Polytechnic. the Rural and Community Banks for contributing significantly to the She told management socio-economic of the various Rural advancement and Community Banks of Ghanaians that, one of the ways particularly the rural they could support the folks. She enjoined The Regional Minister, Paulina Patience Abayage, Government was to the banks to set delivering a speech at the recently held Biennial partner it to implement a new agenda for General Meeting of the Association of Rural Banks. its numerous flagship their operations programmes. to empower the rural communities in the banks. She further admonished The Regional Minister to become self- emphasised that, if Rural and Community mentioned the Planting dependent and self- the banks are able Banks that could not for Food and Jobs, the sustaining. to achieve this goal, meet the minimum Rearing for Jobs, One- the benefit to their capital requirement of District-One-Factory, Ms Abayage who communities will not the Bank of Ghana to One-Village-One-Dam, expressed worry only be enormous, merge, and stressed among others, as about the spate of but would also help that the merger would some of the areas that corruption in the tremendously to push not only lead to the would need critical Banking industry, our beloved country, creation of synergy support from Rural and entreated the Ghana to a place of to enhance their Community Banks. She management of self-sustainability business performance, indicated that, if the the banks to work and self-dependence but would also Government is supported towards addressing which is in line help improve their to implement these such challenges with Ghana’s profitability. pogrammes and projects, so as to help transformational it would not only help protect the public agenda specifically, make the country purse and help Ghana Beyond Aid. achieve its vision of restore confidence The Regional Minister
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QUOTES FROM THE CHAPTER PRESIDENTS The Rural Banker magazine, interacted with some Chapter Presidents of the Association of Rural Banks (ARB) on the sidelines of the recently held Biennial General Meeting (BGM) and the Rural Banking Excellence Awards. We bring you important excerpts from the people pushing the frontiers of Rural and Community Banking from the Regions.
ALHAJI SHERIF ADAMS PATRICK OWUSU PRESIDENT, UPPER EAST REGIONAL CHAPTER PRESIDENT, ASHANTI REGIONAL CHAPTER I am the Vice-Chair of Builsa Community Bank Frankly speaking, the northern part of the (Buco Bank) in the Upper East Region and the country is a place we rarely visit. We were Upper East Chapter President. all therefore very happy when the Upper th Despite all the challenges rural folks, especially the East Chapter applied to host the 20 BGM. the RCBs are facing, we farmers is doing the larger think that the ARB Apex economy of the country a We thank God that we are Bank is helping us by lot of good. I therefore think here and we are excited championing our cause, by that we need more support to have travelled all the way of advocacy. The RCBs from the Bank of Ghana way from Kumasi to this are the backbone of the (BoG) and our Regulator, place. It has also given us economy, because if you ARB Apex Bank. the opportunity to see the want to introduce any social beauty of Ghana. Travelling intervention programme, it all the way here has given starts with the rural areas us the privilege to see many and we think that the little wonderful places. funds that we are able to mobilise and on-lend to the
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DR TONI AUBYNN SIMON NERO DAVOR PRESIDENT, WESTERN REGIONAL CHAPTER PRESIDENT, VOLTA REGIONAL CHAPTER
It has been an honour to be of service to The Rural Banking sector has been the Western Chapter because the Western challenging, but we need to do a lot more Chapter is one of the strongest amongst the so that we can bring up the level of Rural community of Rural Banks. Banking in our various catchments because If you look at the awards hard to mimic the behaviour now, we face serious competition from all that are given out by the of the universal banks and sorts of financial operators. Ghana Club 100, many of that is what I think it should the RCBs in the Western be, that some banks are in The major banks, the ‘susu’ sector and the BoG for the Chapter rank amongst the the rural areas and others companies, which are the financial sector to explore top 10 and if you read the in the urban areas; their most challenging ones, which how they can improve upon Efficiency Monitoring Unit behaviours should not be are moving into what the these services for us in the (EMU) Report of the ARB different. Their professional RCBs are supposed to do, as rural areas so that we can Apex Bank, some of the and technical behaviours well as the micro-finance leverage on technology to strongest banks are in the must be at par with those of companies. There should improve performance of the Western Chapter. any bank anywhere. be a way to let the people RCBs as we expect them know that Rural Banking is to be. But of course there are That is why many of fully supported by the Bank challenges too. I always say our members have not of Ghana (BoG) and the ARB that if you are a Rural Bank, fallen prey to some of Apex Bank, which support you are a curse as well as the challenges facing the our operations through the a blessing also. You are a universal banking sector, Clearing System and that blessing because you have because some of our anybody banking with the the opportunity to provide members are very resilient. RCBs should know that they financial intermediation to The boards of the Rural have no problem keeping the unbanked in the rural Banks are now attracting their funds with us. areas, who are looking a significant number of for little resources to run professionals, including, Our next problem is the cost their businesses as well as retired Bankers, Lawyers, of Information Technology promote agriculture. At the Accountants and so on. I (IT) system in the rural areas. same time, because you are am proud that the Western Because the networks are not a Rural Bank, everybody Chapter has a good reliable in most of the rural thinks your activities should collection of professionals areas. You can be working be sub-standard or should who are managing these and the network can hold you be in a way below urban. banks. to ransom. How we can talk to all the operators through That is the challenge we the Regulators, the National face. Because of that, some Communication Authority of our members are working (NCA) for the telecoms
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DAVID NARH SARBAH JOSEPH TACHIE DJAN PRESIDENT, GREATER ACCRA REGIONAL CHAPTER PRESIDENT, BRONG AHAFO REGIONAL CHAPTER
I have been President of the Greater Accra The banks in my chapter were doing very well Chapter for three years. previously; but our operations were affected by the collapse of DKM Microfinance, God is I am overjoyed at the organization of the BGM at Bolgatanga, because I have attended several BGMs in the Love Microfinance and others in the BA. past and must say that this one was very well organized. Their collapse has The Chapter has tried affected us so much so as much as possible to that currently, three of unite all the banks in our banks are not doing the Region and we see well at all. ourselves as members of one united family. We are thinking about meeting with them to see how we can help them out of their predicament. However, there are other banks in the Region which are doing very well, for example, Kintampo Area Bank, Yapra Rural Bank, etc., are doing very well. My tenure as President of the Brong Ahafo Chapter has been very smooth. My people understand the role and there is not much competition amongst RCBs in the Chapter. CHARLES TERLE KARBO PRESIDENT, UPPER WEST REGIONAL CHAPTER
What I want The Rural Banker to take away from here is that the banks in my chapter have been having our chapter meetings as scheduled. We have also had two Annual General Meetings (AGMs) that included all banks in the chapter and four Executive Board Meetings for the year. Almost every year, all the four banks hold their AGMs. On the bank ratings, all the banks in my chapter are within the A and B rankings. This means our banks are doing fairly well.
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SULLEY JACOB JEBUNI ROLAND ACQUAH ARHIN ACTINGSOLLEY PRESIDENT, JACOB NORTHERN JABUNI REGIONAL PRESIDENT, CENTRAL REGIONAL CHAPTER PRESIDENT NORTHERNCHAPTER REGIONAL CHAPTER I must say that Central Region being the cradle We are all aware the RCB sector has a lot of of Rural Banking, has seen its fair share of challenges. One of the main challenges facing challenges. the RCBs, is the hike in the corporate income tax. About four of our members Some of the directors have became distressed during the right qualifications The increment from 8 per Low loan recovery is also my tenure. Presently, 18 of but what we need on the cent to 25 per cent is killing a problem to the banks our banks are active. Some boards is the appropriate our banks. We have been but the Chapter has staff of the banks were not mix of professionalism appealing to the authorities encouraged information careful in their investment and commitment to help to reduce it to even 15 per and experience sharing decision making. run the RCBs. We hope to cent but that appeal has not amongst banks. Some of get the appropriate mix yet been heeded. the banks have taken legal Governance has also been of professionals to help action against defaulting a challenge to the banks govern our banks. The other crucial issue customers. in the region. Some of is the stated capital. It is the directors have been difficult for us to convince The good side is recovery on the boards for so long new investors to buy of business loans has and therefore take a lot of shares in the banks in the been very encouraging, things for granted. I think northern region because particularly, at the the recent Bank of Ghana most of the existing or Bamgmarigu Community directives, for the long pioneer shareholders in the Bank. serving directors to resign banks have not been paid from the boards would dividends. The BoG has also help bring some level of given us a roadmap on how professionalism to boards of to raise new shares to shore the banks. up the stated capital of the banks.
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some others call, Relationship with ARB wanting to talk to the Apex Bank Executive Director and after urging them She said there were to go ahead, they will initial challenges insist on me allowing between the Association them to talk to the and the ARB Apex Bank in MEET THE Executive Director the past, but “things have because they expect improved a lot over the to hear a male voice”. past few years”. FIRST FEMALE “Sometimes others Mrs Owusu said there will enter the was now a very cordial office, by-pass me working relationship and speak to my between the two EXECUTIVE men subordinates organizations and “we considering them hope to build on it to be my superiors positively to be able to all because I am a serve the RBCs better”. DIRECTOR female”, she added. Programmes Executed Working with the so far Governing Council OF ARB Some of the programmes She stated that she organized by the COMFORT OWUSU has had a cordial Association so far working relationship include: The 6th with the Governing Rural Banking Week Mrs Comfort Owusu, the imcumbent Council of the Celebration organized Executive Director of the Association of Rural ARB, adding that, at the Ensign College of “they have been Public Health, which was Banks (ARB) was elevated to the position very supportive, hosted by the Eastern in April 2018, having acted in the role from encouraging and Chapter with support understanding. I from Manya Krobo Rural October 2017. Speaking to The Rural Banker, wouldn’t want to Bank. the sixth Executive Director and the only mention names here”. According to her, “the female to have occupied the role said, the She noted that colourful event was said position was a permanent job, adding that, there were very to be unprecedented few members of in the history of the “until any misfortune, one retires on the job the Council “who Association.” or goes on voluntary retirement. sometimes want to intimidate me The event was attended he stated that by making me feel by high profile-persons the Rural and I do not matter including His Excellency Community and would want to the Vice President of the Banking (RCB) micro-manage the Republic of Ghana, Dr landscape Secretariat, especially Mahamudu Bawumia, the office of the Dr Nii Kotei Dzani, Shad a male dominated Executive Director, Member of the Council of leadership structure, but since majority of State and the President which required that the members of the of the Ideal Group of she had to be strong Governing Council Companies, the Governor and extra confident would not encourage of the Bank of Ghana, to be able to work such behaviour, Dr Ernest Addison, the effectively. there is always Head of Other Financial agreement on the Institutions Supervision part of the Council on Department of the Bank Mrs Owusu revealed all the proposals the of Ghana, Mr Kofi Amoah however that, “most Secretariat presents Awuah, the Municipal of them accord me to them”. Chief Executive of Manya the needed respect Krobo, Nene Sakite II, but there are times the Konor of the Manya Pg. 44
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Comfort Owusu, Executive Director of the Association of Rural Banks
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Krobo, Advocacy front, it was with the ARB Apex Bank all National Council very challenging “but I and Micro Watch, an Members, the Board can say that I am working advertising Agency, Chairman and some very hard to achieve we would aggressively selected members of the positive results”. market the activities of Board of the ARB Apex the Association and the Bank, the Managing She revealed that the RCBs to raise the image Director, Mr Kojo Mattah Secretariat was working of the Association”. and staff of the ARBApex on the possibility of Bank participated for reviewing the corporate Mrs Owusu stated that the first time in the income tax downwards. the Secretariat would programme. Most of the continue with its Training For the first Chairmen, Directors, “On the issue of the Programmes to build the time, a women’s General Managers and increase of Corporate capacity of its member the RCBs were all present Tax from 8 per cent to banks. programme was in their numbers at the 25 per cent and the introduced to meet programme. new minimum capital She said “the Association requirement by the in collaboration with the peculiar needs She added that targeted Regulators, I was able GIZ is coming out with training programmes to arrange a meeting a capacity building of the women aimed at building the between His Excellency programme commencing in the RCBs and capacity of the Directors the Vice President of the in March, 2019 for the and Management of Republic of Ghana, Dr RCBs”. the outcome was the RCBs were carried Mahamudu Bawumia, amazing. out. “For the first time, Mr Kwaku Kwarteng, the Mrs Owusu added that a women’s programme Hon Deputy Minister, there were plans to build was introduced to meet Ministry of Finance, and a a very broad database of the peculiar needs of Representative from the the RCBs. the women in the RCBs National Council and we and the outcome was are actively waiting for She noted that the amazing”, she noted. the Government to give renovation of the us their final response”, National Secretariat She revealed that she stated. building would continue through the support of while plans were also the Governing Council She said the secretariat being explored to build and the ARB Apex Bank, was also keenly following a befitting a National “I have started the up on a petition it Secretariat for the RCBs. renovation of the office had sent on the new premise of the National Corporate Governance Secretariat, which was Directives and the gradually deteriorating. Transitional Provisions The first phase has been and would inform completed and hopefully the banks as soon as the second phase will a new position was begin very soon”. communicated from the Central Bank. “The 20th Biennial General Meeting and the 3rd Rural Looking forward Banking Excellence Awards hosted by the She noted that the Upper East Chapter was Association was a vibrant also another successful one with a membership programme under my of 144 RCBs but little tenure, despite some was known about its challenges encountered”, existence. she stated. She said “most often Advocacy when you mention ARB, people will ask of Apex She noted that on the Bank. In collaboration
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PROCRASTINATION A SCIENTIFIC GUIDE ON HOW TO STOP IT PROCRASTINATION IS A CHALLENGE WE HAVE ALL FACED AT ONE POINT OR ANOTHER. FOR AS LONG AS HUMANS HAVE BEEN AROUND, WE HAVE BEEN STRUGGLING WITH DELAYING, AVOIDING, AND PROCRASTINATING ON ISSUES THAT MATTER TO US. JAMES CLEAR
uring share proven frameworks when you do one thing Why Do We Procrastinate? our more you can use to beat even though you know Definitions are great productive procrastination, and you should do something and all, but why do we moments, cover useful strategies else. Loosely translated, procrastinate? What is when we that will make it easier to you could say that going on in the brain temporarily take action. akrasia is procrastination that causes us to avoid or a lack of self-control. the things we know we figureD out how to Here’s a modern should be doing? stop procrastinating, What is Procrastination? we feel satisfied and Human beings have definition: This is a good time to accomplished. been procrastinating Procrastination is bring some science for centuries. The the act of delaying into our discussion. problem is so timeless, or postponing a task Behavioral psychology This article talks in fact, that ancient or set of tasks. So, research has revealed about how to make Greek philosophers like whether you refer to it a phenomenon called those rare moments Socrates and Aristotle as procrastination or “time inconsistency,” of productivity more developed a word to akrasia or something which helps explain why routine. The purpose describe this type of else, it is the force procrastination seems of this guide is to behavior: Akrasia. that prevents you from to pull us in despite break down the Akrasia is the state of following through on our good intentions. science behind why acting against your what you set out to do. Time inconsistency we procrastinate, better judgment. It is refers to the tendency
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of the human brain to value yourself falling back into soon as you cross the Action immediate rewards more old patterns. Your brain Line, the pain begins to highly than future rewards. values long-term benefits subside. In fact, being in the when they are in the future middle of procrastination The best way to understand (tomorrow), but it values is often more painful than this is by imagining that immediate gratification being in the middle of you have two selves: your when it comes to the doing the work. Point A on Present Self and your Future present moment (today). the chart above is often Self. When you set goals more painful than Point for yourself — like losing The Procrastination-Action Line B. The guilt, shame, and weight or writing a book or You cannot rely on long-term anxiety that you feel while learning a language — you consequences and rewards procrastinating are usually are actually making plans to motivate the Present worse than the effort and for your Future Self. You are Self. Instead, you have to energy you have to put in envisioning what you want find a way to move future while you’re working. The You cannot rely your life to be like in the rewards and punishments problem is not doing the future. Researchers have into the present moment. work, it’s starting the work. on long-term found that when you think You have to make the future If we want to stop consequences about your Future Self, it consequences become procrastinating, then we is quite easy for your brain present consequences. need to make it as easy as and rewards to see the value in taking This is exactly what happens possible for the Present Self actions with long-term during the moment when to get started and trust that to motivate benefits. The Future Self we finally move beyond motivation and momentum values long-term rewards. procrastination and take will come after we begin. the Present However, while the Future action. For example, let’s Motivation often comes after Self. Instead, Self can set goals, only the say you have a report to starting, not before. Present Self can take action. write. You’ve known about you have to When the time comes to it for weeks and continued How to Stop make a decision, you are no to put it off day after day. Procrastinating Right Now find a way to longer making a choice for You experience a little bit There are a variety of move future your Future Self. Now you of nagging pain and anxiety strategies we can employ to are in the present moment, thinking about this paper stop procrastinating. Below, rewards and and your brain is thinking you have to write, but not I’ll outline and explain each about the Present Self. enough to do anything about concept, then I’ll provide punishments Researchers have discovered it. Then, suddenly, the day you with some examples of into the present that the Present Self really before the deadline, the strategy in action. likes instant gratification, future consequences turn moment. You not long-term payoff. into present consequences, Option 1: Make the and you write that report Rewards of Taking Action have to make So, the Present Self and the hours before it is due. The More Immediate Future Self are often at odds pain of procrastinating If you can find a way to make the future with one another. The Future finally escalated and you the benefits of long-term consequences Self wants to be trim and fit, crossed the “Action Line.” choices more immediate, but the Present Self wants a There is something then it becomes easier become present donut. Sure, everyone knows important to note here. As to avoid procrastination. you should eat healthy today consequences to avoid being overweight in 10 years. But consequences like an increased risk for diabetes or heart failure are years away. Similarly, many young people know that saving for retirement in their 20s and 30s is crucial, but the benefit of doing so is decades off. It is far easier for the Present Self to see the value in buying a new pair of shoes than in socking away $100 for 70-year-old you. This is one reason why you might go to bed feeling motivated to make a change in your life, but when you wake up you find
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One of the best ways to ideas that work for you on the game and create a new bring future rewards into https://jamesclear.com/ consequence that happens the present moment is temptation-bundling if you don’t do the behavior with a strategy known as right now. temptation bundling. Option 2: Make the Temptation bundling is Consequences of Option 3: Design Your a concept that came out Procrastination More Future Actions of behavioral economics Immediate One of the favourite tools One of the research performed by Katy There are many ways psychologists use to favourite tools Milkman at The University to force you to pay the overcome procrastination of Pennsylvania. Simply put, costs of procrastination is called a “commitment psychologists the strategy suggests that sooner rather than later. device.” Commitment you bundle a behavior that For example, if you are devices can help you use to overcome is good for you in the long- exercising alone, skipping stop procrastinating by procrastination run with a behavior that your workout next week designing your future feels good in the short-run. won’t impact your life much actions ahead of time. is called a The basic format is: Only at all. Your health won’t For example, you can curb do [THING YOU LOVE] deteriorate immediately your future eating habits “commitment while doing [THING YOU because you missed that by purchasing food in device.” PROCRASTINATE ON]. one workout. The cost of individual packages rather Here are a few common procrastinating on exercise than in the bulk size. You Commitment examples of temptation only becomes painful can stop wasting time on bundling: after weeks and months your phone by deleting devices can • Only listen to audiobooks of lazy behavior. However, games or social media apps. or podcasts you love while if you commit to working You could also block them help you stop exercising. out with a friend at 7 a.m. on your computer. procrastinating • Only get a pedicure while next Monday, then the cost Similarly, you can reduce processing overdue work of skipping your workout the likelihood of mindless by designing emails. becomes more immediate. channel surfing by hiding • Only watch your favorite Miss this one workout and your TV in a closet and only your future show while ironing or doing you look like a jerk. taking it out on big game actions ahead of household chores. days. You can voluntarily • Only eat at your favorite Another common strategy is ask to be added to the time. restaurant when conducting to use a service like Stickk banned list at casinos and your monthly meeting with (http://www.stickk.com) online gambling sites to a difficult colleague. to place a bet. If you don’t prevent future gambling You can get more do what you say you’ll do, sprees. You can build an information on how to then the money goes to a emergency fund by setting create temptation bundling charity you hate. The idea up an automatic transfer here is to put some skin in of funds to your savings
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account. These are all examples of commitment PROCRASTINATION is the act of delaying or postponing devices that help reduce the odds of procrastination. a task or set of tasks. So, whether you refer to it as procrastination or akrasia or something else, it is the Option 4: Make the Task More Achievable force that prevents you from following through on what As we have already covered, you set out to do. the friction that causes procrastination is usually centered around starting a behavior. Once you begin, it’s often less painful to ACTIONABLE IDEAS keep working. This is one good reason to reduce the 1 Make the rewards size of your habits (https:// immediate jamesclear.com/habit- guide) because if your habits are small and easy to start, then you will be less Make the likely to procrastinate. 2 consequences One of my favorite ways to immediate make habits easier is to use The 2-Minute Rule, which states, “When you start a new habit, it should take 3 Design your future less than two minutes to actions do.” The idea is to make it as easy as possible to get started and then trust that momentum will carry you further into the task after you begin. Once you start writing a book. let’s discuss some ways to doing something, it’s easier items in order of their Making your tasks more make productivity a long- true importance. to continue doing it. The achievable is important for term habit and prevent 2–Minute Rule overcomes 3. When you arrive two reasons. procrastination from tomorrow, concentrate procrastination and laziness 1. Small measures of creeping back into our lives. by making it so easy to start only on the first task. progress help to maintain Work until the first task taking action that you can’t momentum over the long- say no. The Daily Routine Experts is finished before moving run, which means you’re Recommend for Peak on to the second task. more likely to finish large Productivity 4. Approach the rest of Another great way to make tasks. One reason it is so tasks more achievable is your list in the same easy to slip back into fashion. At the end of the to break them down. For 2. The faster you procrastination time after example, consider the day, move any unfinished complete a productive time is because we don’t items to a new list of six remarkable productivity task, the more quickly have a clear system for of the famous writer tasks for the following your day develops an deciding what is important day. Anthony Trollope. He attitude of productivity and what we should work published 47 novels, 18 5. Repeat this process and effectiveness. on first. This is yet another every working day. works of non-fiction, 12 I have found this second example of the system short stories, 2 plays, and point, the speed with often being more important an assortment of articles Here’s what makes it so which you complete your than the goal. (https:// effective: and letters. How did he do first task of the day, to be jamesclear.com/goals- it? Instead of measuring of particular importance systems). It’s simple enough to his progress based on the for overcoming completion of chapters or actually work. The procrastination and One of the best productivity primary critique of books, Trollope measured maintaining a high systems I have found is also his progress in 15-minute methods like this one is productive output day one of the most simple. It’s that they are too basic. increments. He set a goal after day. called The Ivy Lee Method of 250 words every 15 They don’t account for and it has six steps: all of the complexities minutes and he continued 1. At the end of each this pattern for three hours Being Consistent: How to and nuances of life. Kick the Procrastination work day, write down the What happens if an each day. This approach six most important things allowed him to enjoy Habit emergency pops up? Alright, we’ve covered a you need to accomplish What about using the feelings of satisfaction and variety of strategies for tomorrow. Do not write accomplishment every 15 latest technology to our beating procrastination down more than six tasks. fullest advantage? In my minutes while continuing on a daily basis. Now, 2. Prioritize those six to work on the large task of experience, complexity
48 AN ARB APEX BANK QUARTERLY Q4, 2018 Issue The Rural Banker 4
is often a weakness night before, however, our ability to remember because it makes it I can wake up and start to perform a new habit. harder to get back on writing immediately. It’s (“I’m going to start eating track. Yes, emergencies simple, but it works. In the healthier. For real this and unexpected beginning, getting started time.”) A few days later, distractions will arise. is just as important as however, the motivation Ignore them as much as succeeding at all. fades and the busyness possible, deal with them of life begins to take over when you must, and get It requires you to single- again. Hoping you will back to your prioritized task. Modern society loves simply remember to do a to-do list as soon as multi-tasking. The myth of new habit is usually a recipe possible. Use simple multi-tasking is that being for failure. This is why a rules to guide complex busy is synonymous with visual stimulus can be so behavior. being better. The exact useful. It is much easier to opposite is true. Having stick with good habits when Modern society It forces you to make fewer priorities leads to your environment nudges tough decisions. I better work. Study world- you in the right direction. loves multi- don’t believe there is class experts in nearly any Visual cues display your anything magical about field—athletes, artists, progress on a behavior. tasking. The Lee’s number of six scientists, teachers, important tasks per day. CEOs—and you’ll discover Everyone knows consistency myth of multi- It could just as easily one characteristic runs is an essential component be five tasks per day. through all of them: focus. of success, but few people tasking is that However, I do think there The reason is simple. actually measure how is something magical You can’t be great at one consistent they are in real being busy is about imposing limits task if you’re constantly life. Having a visual cue— upon yourself. I find that dividing your time ten like a calendar that tracks synonymous the single best thing to different ways. Mastery your progress—avoids that do when you have too requires focus and pitfall because it is a built-in with being many ideas (or when consistency. measuring system. One look you’re overwhelmed by at your calendar and you better. The exact everything you need to Regardless of what method immediately have a measure get done) is to prune you use, the bottom line is of your progress. opposite is true. your ideas and trim away this: Do the most important everything that isn’t thing first each day and let Visual cues can have absolutely necessary. the momentum of the first an additive effect on Constraints can make task carry you into the next motivation. As the visual you better. Lee’s method one. evidence of your progress is similar to Warren mounts, it is natural to Buffett’s 25-5 Rule, How to Avoid Chronic become more motivated (https://jamesclear.com/ Procrastination With Visual to continue the habit. The buffett-focus) which Cues more visual progress you requires you to focus on see, the more motivated just five critical tasks you will become to finish and ignore everything the task. There are a variety else. Basically, if you of popular behavioral commit to nothing, economics studies that refer you’ll be distracted by to this as The Endowed Progress everything. Effect. (https://en.wikipedia.org/wiki/ Endowment_effect). It removes the friction of starting. Seeing your previous The biggest hurdle to progress is a great way to finishing most tasks is trigger your next productive starting them. (Getting action. off the couch can be Another way to overcome tough, but once you the trap of chronic Two of my favorite strategies actually start running it procrastination is to use that use visual cues are The is much easier to finish visual cues to trigger your Paper Clip Strategy, (https://jamesclear. your workout.) Lee’s habits and measure your com/paper-clips) which is helpful method forces you to progress. for beating procrastination decide on your first task day-after-day, and The A visual cue is something Seinfeld Strategy, (https://jamesclear. the night before you go com/stop-procrastinating-seinfeld- to work. This strategy you can see (a visual reminder) that prompts strategy) which is great for has been incredibly you to take action. Here’s maintaining consistency useful for me: as a writer, why they are important for over longer periods of time. I can waste three or four beating procrastination: hours debating what I Visual cues remind you to should write about on a start a behavior. We often given day. If I decide the lie to ourselves about
Q4, 2018 AN ARB APEX BANK QUARTERLY 49 Issue 4 THE RURAL BANKER
Kojo Mattah, Managing Director of ARB Apex Bank, and Ron Strikker, the Netherlands Ambassador to Ghana, and officials of UNICEF in a group picture after the launch. ARB APEX BANK PARTNERS WITH UNICEF TO IMPROVE HOUSEHOLD SANITATION
The new Sanitation and Weto Rural Banks that, “the ARB Apex ARB Apex Bank Fund, which is were selected from Bank would like to has partnered being managed by Ho Municipality, while confidently assure our with the the ARB Apex Bank Bonzali and Tizaa partners that the funds Environmental was launched in Rural Banks were will be strictly applied Accra to address the selected from the for the key purpose, ASanitation and Health challenges of basic Tamale Municipality. that is the provision of Directorate of the Ministry sanitation in urban loans to households of Sanitation and Water communities. UNICEF is also and businesses for building the capacity the construction of Resources (MSWR), The Sanitation Fund UNICEF and the Embassy of Rural Community toilets and related is currently being Banks (RCB) and sanitation facilities of the Kingdom of the rolled out in three Netherlands, to launch an Metropolitan, in the beneficiary major Assembly Municipal and communities. To ensure innovative and affordable areas across Ghana: loan scheme for people District Assemblies the sustainability of the Ashaiman, Ho and to ensure the smooth Fund, the Efficiency living in urban areas to Tamale Metropolitan build household toilets. implementation of the Monitoring Unit (EMU) Areas. Dagme and Sanitation Fund. of the ARB Apex Bank Manya Krobo Rural has deployed a three- Banks were selected Speaking at the cycle value-for-money for the disbursement launch in Accra, Kojo monitoring regime for of funds in Mattah, Managing the project.” the Ashaiman Director of the ARB Municipality; Avenor Apex Bank noted
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In our search for practical scalable solutions to our sanitation challenges, a revolving fund Cecilia Abena Dapaah, Minister for Sanitation and presents one of the Water Resources. best options, but He said he believed the cent, and often require said, “access to finance without repayment ARB Apex Bank and the two salaried creditors is necessary in the of loans this potential RCBs were selected as as guarantors and other sanitation sub sector, to immediately drops. fund managers based on prohibitive selection give access to sanitation the special expertise and criteria. service delivery and stir We need those who closeness of the RCBs to up entrepreneurship in access the loans to under-served segments Such conditions make the sanitation business. of the society. it restrictive and It is the sustainable way be responsible, but unobtainable for many of reaching our SDG 6 we also need to make There are approximately sectors of society to build target”. sure our Assemblies four million households their own household in Ghana who do not have toilets. The UNICEF are engaging with a toilet for exclusive use Representative in Ghana, households to by their families. While According to Cecilia Anne-Claire Dufay said, remind them of this access to basic sanitation Abena Dapaah, Minister “UNICEF is committed has increased from 21 for Sanitation and to continue working responsibility and per cent to 25 per cent Water Resources, “in with the Government that participating in urban areas, statistics our search for practical of Ghana, Development banks are playing have proven that it is the scalable solutions to our Partners and other poorest who are more sanitation challenges, a actors to make Ghana a their part likely to practice open revolving fund presents much cleaner country, defaecation. one of the best options, where families can enjoy but without repayment a dignified life, where The loans for household of loans this potential children can grow up toilets, which are immediately drops. in a safe and healthy being offered with an We need those who environment, and where operational fee of 12 access the loans to be no one is left behind”. per cent and with less responsible, but we also demanding lending need to make sure our The Basic Sanitation Fund criteria than other Assemblies are engaging is the first phase of a loan products, has the with households to multi-million Dollar fund, potential to change remind them of this which upon successful the landscape of urban responsibility and that completion of the pilot sanitation for thousands participating banks are phase would lead to of families. The rate of playing their part”. the release of the other 12 per cent is much more components of the fund. favourable in comparison In his remarks, His to average bank loan fees Excellency Ron Strikker which can range from the Netherlands between 26 to 40 per Ambassador to Ghana
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Award winners at the Rural Banking Excellence Awards
FIASEMAN RURAL BANK GLOWS AT THE 3RD RURAL BANKING EXCELLENCE AWARDS Fiaseman Rural Bank in the Western Region, emerged the overall best Rural Bank at the 3rd Rural Banking Excellence Awards held at the auditorium of the Bolgatanga Polytechnic in the Upper West Region.
Region, emerged the the Eastern Region, was best bank in Apex-Link iaseman first runner up in the the overall winner, while outbound transfers, Rural Bank, most profitable bank Kintampo Rural Bank in was taken by Upper which was category, while Anlo the Brong Ahafo Region Amenfi Rural Bank in the also crowned Rural Bank in the Volta and Amansie West Rural Western Region. the best bank Region was the second Bank in the Ashanti Fin the Western Region, runner up in the Region, emerged as first Regional Awards also picked the second most profitable bank and second runners up runner up in the loan category. respectively. In the Ashanti Region, financing category. Again, in the loan Amansie West Rural financing category, The best in U-Connect, Bank emerged as the Amansie West Rural the Mobile Banking overall best bank, while Bongo Rural Bank in Bank in the Ashanti application of the Rural Kaaseman Rural Bank, the Upper East Region, Region, was the and Community Banks was declared the best was adjudged the most overall winner, while (RCBs) was taken by bank in the Brong Ahafo promising bank, while Ahantaman Rural Bank Amantin and Kasei Rural Region. Builsa Community in the Western Region, Bank both in the Brong Bank, also in the was the first runner up Ahafo Region. Microfin Rural Bank, Upper East Region, in that category. emerged the overall was declared the most The best bank in Apex- best bank in the Central profitable bank and In the most compliant Link inward transfers, Region, while South Akim Capital Rural Bank bank category, was taken by BESSFA Rural Bank, was crowned in the Brong Ahafo Akwapim Rural Bank in Rural Bank, while the
52 AN ARB APEX BANK QUARTERLY Q4, 2018 Issue The Rural Banker 4 the overall best bank in the Eastern the Upper West Region. Membership of the awards committee Region. was also enhanced to bring a diverse Anlo Rural Bank emerged the best experience to bear on the awards Ga Rural Bank was declared the best bank in the Volta Region, while scheme. bank in the Greater Accra Region, Fiaseman, which won the overall best while Bonzali Rural Bank, emerged bank in the country, was also the best Eligibility criteria were also expanded the overall best bank in the Northern bank in the Western Region. to include areas such as corporate Region. governance in the RCBs, capital The awards scheme adequacy ratios, percentage growth in In the Upper East Region, Bongo the regions, percentage growth on the Rural Bank, was declared the overall The assessment criteria was reviewed national level, loan recovery rate, and winner, while Lawra Area Rural Bank to ensure that deserving RCBs agency network, among others. was adjudged the overall best bank in won in the respective categories.
RD RURAL & COMMUNITY BANKS EXCELLENCE 3 AWARDS - 2018 AWARD CATEGORY BANK REMARKS Overall Best Fiaseman Rural Bank Winner Most Promising Bank Bongo Rural Bank Winner Most Profitable Bank Builsa Community Bank Winner Capital Rural Bank 1st Runner Up Anlo Rural Bank 2nd Runner Up Loan Financing Amansie West Rural Bank Winner
Ahantaman Rural Bank 1st Runner Up Fiaseman Rural Bank 2nd Runner Up Most Compliant Akuapim Rural Bank Winner Kintampo Rural Bank 1st Runner Up Amansie West Rural Bank 2nd Runner Up Deposit Mobilization Naar Rural Bank Winner Sefwiman Rural Bank 1st Runner Up Microfin Rural Bank 2nd Runner Up Best U-Connect Bank Amantin & Kasei Rural Bank Winner Best in Apex Link i-trans BESSFA Rural Bank Winner, Paying Bank Upper Amenfi Bank Winner, Receiving Bank Best Regional RCBs: Ashanti Amansie West Rural Bank Winner Brong Ahafo Kaaseman Rural Bank Winner Central Microfin Rural Bank Winner Eastern South Akim Rural Bank Winner Greater Accra Ga Rural Bank Winner Northern Region Bonzali Rural Bank Winner Upper East Bongo Rural Bank Winner Upper West Lawra Rural Bank Winner Volta Anlo Rural Bank Winner Western Fiaseman Rural Bank Winner
Q4, 2018 AN ARB APEX BANK QUARTERLY 53 Issue 4 THE RURAL BANKER PRESENTATION OF AWARDS
54 AN ARB APEX BANK QUARTERLY Q4, 2018 Issue The Rural Banker 4
Q4, 2018 AN ARB APEX BANK QUARTERLY 55 Issue 4 THE RURAL BANKER
It is a pleasure and services and talking to you and enhanced salaries for we are converged our staff members AN here for the 20th become limited. BGM. We would be highlighting the I hope that the activities of the Rural Government would INSIGHTFUL Banks for the past 40 listen to our humble years. plea and reduce the tax burden on the TRB: How long have RCBs. From 8 per cent CHAT WITH you been President? some two years ago to 25 per cent is just too NAB: I have been astronomical. President for four years. We have been TRB: Thank you for DR NANA riding the storm, talking to us and trying to highlight also for serving the the operations. Our Association for two major challenge is consecutive terms. AKOWUAH the tax hike, which we were hoping NAB: Thank you that the 2019 and I did not go for Annual Budget re-election because BOAMAH Statement was first of all, I was not going to highlight re-elected to the the crippling tax but Board of Otuasekan IMMEDIATE-PAST PRESIDENT unfortunately it did Rural Bank, on which not because we have I served as Director OF THE ASSOCIATION OF a Government that and that debarred is focused on roping me from contesting a in every little tax. We national position, as RURAL BANKS have hit the snag, the constitution states but we do not think that, to contest for The immediate past President of the Association that is the end of a national position, of Rural Banks, Dr Nana Akowuah Boamah everything. We want one must be a serving the Government to member of the Board (NAB) has become the latest to add to the realize that paying of a Rural Bank. many voices calling on Government to reduce one-quarter of our profit as tax is so the corporate income tax of the Rural and much when some of Community Banks in Ghana. The Rural Banker the Rural Banks are (TRB) caught up with the veteran banker and struggling. brings you excerpts of that interview. It was our hope that the Government was going to introduce RB: Kindly a tax relief in the tell us a budget so that some few things of the struggling about banks could also yourself. have something to show to investors TNAB: I am Dr Nana or prospective Akowuah Boamah, shareholders to buy National President shares. Paying 25 of of the Association of our profits, means Rural Banks. investments in new branches, products
56 AN ARB APEX BANK QUARTERLY Q4, 2018 Issue The Rural Banker 4
Dr Nana Akowuah Boamah, Immediate-Past President of the Association of Rural Banks Q4, 2018 AN ARB APEX BANK QUARTERLY 57 Issue 4 THE RURAL BANKER
CHAPTER ADMINISTRATORS CRY FOR LOGISTICS It emerged that one of the major factors hindering the smooth operation of the Regional Chapters of the Association of Rural Banks (ARB) was the lack of logistics. This came to light at Bolgatanga during the recently held 20th Biennial General Meeting (BGM) and the 3rd Rural Banking Excellence Awards.
organisations to “donate chapter”. the industry as a whole. peaking to The a vehicle or sell a vehicle “if they have any issues Rural Banker on to the chapter at a According to Margaret and I meet the Directors, the sidelines of concessionary price to Dzokoto, Chapter we as Managers, who are the events, most aid movement of officials Administrator of the Brong technical people on the of the regional to and from the regional Ahafo Region, “it is very ground, explain the issues chapter office”. challenging running the to the Directors”. chapterS administrators chapter office, due to lack He revealed that he had complained about the Benedicta Kwakye, the of the required logistics”. also used his position as lack of logistics, such Chapter Administrator Managers’ Rep to help as vehicles, and office for the Eastern Region She said the events at the resolve staff welfare issues equipment, to aid their indicated that, “it BGM did not really ran affecting some of the work in the deprived has been quite tough according to schedule, as banks. communities. organizing programmes compared to the previous for the chapter, because year’s events, which were “When we meet the it is not easy getting held at Winneba in the Council of the ARB, I According to Nathaniel managers to take part Central Region. always advocate that we Asmah Cudjoe, Western in the activities of the follow due process in all Chapter Administrator, chapter”. Dr Anthony Daborh, our actions. For example, “one of the challenges was Ashanti Region Chapter if a staff member is to be where to get a place for It was not all gloom Administrator who has disciplined, how do you go our quarterly meetings. and doom as Hudu been administrator for about it,” he stressed. We have however been Yakubu, the Chapter about 13 years, said “the Kantanka who is also the able to put up a place, Administrator for the formation of ARB Apex Chief Executive Officer of which even houses the Northern Region, Bank has come as a good Atwima Kwanwoma Rural Regional Branch of the expressed his excitement omen to help straighten Bank, said he had been ARB Apex Bank. The at the organization of the operations of the championing this cause Chapter is planning a the BGM in the Upper RCBs”. “because, I have realized public education campaign East Region, noting that, that many times, staff to educate members of “this BGM was a very He said prior to the members of the banks the public that their funds great experience for me coming into being of the are dismissed without are safe with our banks personally, because I had ARB Apex Bank, it was following due process and because there have been the opportunity to help quite challenging for anytime the aggrieved panic withdrawals, which organize the 18th BGM in the administrators in the parties go to court, the is affecting some of our Tamale”. regions, adding, “ARB banks are always on the member banks”. Apex Bank has come to losing side”. Ernestina Pollu, the help smoothen things for He indicated that it was Upper West Chapter the banks and we are very Awudu Hayatudeen also difficult “getting Administrator, noted happy”. Ibrahim, General Manager information from our that, “our banks are very of Builsa Community member banks. Because small so it is difficult Managers’ Bank and Managers’ we need information from mobilizing resources Representatives Speak Representative for the them to be able to act to run activities of the Northern Zone, expressed sometimes. The lack of chapter. We are aware According to Stephen his joy at the BGM and the information or the delay in that out of the four banks Sarfo Kantanka, Managers’ Awards events having been getting information from in the chapter, only two Rep for the Middle Sector, held in the northern sector, the banks makes it very are strong, with the other his role was to coordinate adding, “we were actually difficult to work”. two still struggling. So activities of Managers in pleased to have hosted the it is difficult for us at the the zone. big gathering of all RCBs”. Cudjoe said the chapter administration to raise office needed a vehicle to the needed resources He said they held meetings go round the banks. He to run activities of the to discuss issues affecting appealed to well-meaning
58 AN ARB APEX BANK QUARTERLY Q4, 2018 Issue The Rural Banker 4
ALBERT K. SAPPOR DR ANTHONY DABORH VOLTA REGION ASHANTI REGION
ISAAC ARKHUST YAMOAH CENTRAL REGION
ERNESTINA POLLU ANABA GEBHARD UPPER WEST REGION UPPER EAST REGION
NATHANIEL ASMAH CUDJOE WESTERN REGION TER A
HUDU YAKUBU NORTHERN REGION
BENEDICTA SERWAA KWAKYE EASTERN REGION MARGARET DZOKOTO Q4, 2018 BRONG AHAFO REGION AN ARB APEX BANK QUARTERLY 59 Issue 4 THE RURAL BANKER
COUNTERFEIT D E T E C T O R
60 AN ARB APEX BANK QUARTERLY Q4, 2018 Issue The Rural Banker 4 MANAGING WORK COLLEAGUES & PEERS SUCCESSFULLY FRANCIS ENIMIL ASHUN The writer works at Lower Pra Rural Bank, Shama. He can be reached on +233 050 636 3388. | Email: [email protected] COUNTERFEIT very employee in their new positions aspires to depending on how they D E T E C T O R a higher present themselves to position in the their teams and how organization. the teams receive them based on their initial However,E not all contacts. employees are equal in experience, academic The following are some or professional of the steps that a newly qualifications. promoted manager may take to earn the respect Some will inevitably rise and collaboration of his in rank and position, former peers: while others will not Schedule a meeting with Francis Enimil Ashun, and might even reduce Manager, Lower Pra Rural Bank in position and clout. key members of the team Those who rise higher up the management After assuming the your colleagues with position, the first thing also your friends outside structure may end whom you had worked the office, it can be up managing their a new manager must do in the same team for a is to schedule a one-on- far more challenging hitherto peers and long time. Be proud of for them to accept colleagues. With the one meeting with team your achievement but members to assure them that they are now in right tactics, diplomacy do not let it drown your “subordinate” positions. and soundness of of the readiness to work judgement. This is the with them and also to The safest route is to judgement, newly time to show your mettle be cordial and collegial promoted managers can seek their individual without being snobbish. cooperation. After this in the workplace while earn the respect of their Remember that you maintaining some former colleagues and one-on-one meeting, might be the best person have a department wide personal distance. And keep the group moving for the job, but you are if you treat former peers forward. meeting and spell out not the only person for your expectations of the in the same transparent the job. way that you have always To assert their authority team and the targets to be achieved. Show treated people whom in a new position, Monitor work and off- you have worked with, some managers may them where you want to work relationships continue as before and they would appreciate act in ways that would you have not become a make their teams view where change would As a new manager, you be effected. Assure the new person as a result them as either weak must be sensitive to of your promotion; you or proud. Some by the team of your readiness the fact that some folks to help them to achieve have just become their initial mistakes they might feel resentment boss. may commit in their new their targets but not to or anger. Some may lord it over them. positions would be seen think they deserved the It may also be good to as indecisive or weak. promotion more than change your privacy A new manager must Enter your new role you; others may not settings and put limits walk the fine line to be with confidence have even applied but to your social media seen as being up to the may think you are rising Yes, you got the job for postings. The ethics task, neither proud nor beyond them. Handling of your new position a weakling. The new a reason. And one of these uncomfortable the reasons might be may require you to manager must balance situations is easier be conscious of your a friendly approach that you have shown if you have already leadership in many tasks presence on social media with a sense of firmness cultivated strong, solid to avoid embarrassing and impartiality. that have come your relationships with your way. There is no need to situations bringing Many a new manager colleagues and peers. your new position into may succeed or fail feel guilty that you have When your peers are been promoted over disrepute. You must understand that as you
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what you are going through situation and if possible, is a mark of disrespect and now. They can share have them transferred to show of powerlessness to experience with you on how another team. Sometimes, seek to tell your team “I they overcame resistance despite your best intentions am the Boss”. Yes! You are to them from former and efforts, some people the boss but they make you colleagues. In getting to may still find it unable to the boss. One may be the know them quickly you accept the new situation; best qualified manager, can pick their brains on you would then need supervisor, CEO etc., but if the inner workings of the to ask some to leave to you try to show your team department or organization improve team cohesion. In where power lies, you such as setting individual or some organizations, when would learn too late that team targets, end-of-year management elevates one they can together become It is a mark performance appraisals out of a pool of qualified your downfall. You could of disrespect among others. staff, the rest are given the not have become a boss if opportunity to either stay or there were no subordinates. and show of Let your expectations for are paid off. performance be clearly When the day comes powerlessness to known Let your team know what where you find yourself to expect managing former peers, seek to tell your Becoming the boss means trust that there is a good it is now your responsibility Quickly communicate with reason for the move and team “I am the to manage the group or your team on what they you have been found team effectively. Establish must expect from you, let worthy of the position. Boss”. early on, what you expect them be clear on what Never be intimidated or from your team and what they expect from you in cowed into docility or do you will need them to do your new role. You also not be too proud and all in order to meet objectives have to look at leadership knowing. Rely on the solid and targets. It is imperative as being in service for the relationships you have to quickly assess who will people who work for you. built over the period, keep be able to commit to those This is one of the things strengthening them by expectations and who would that distinguishes a great opening a genuine dialogue not. boss from a mediocre one: about expectations. The your ability to empower change can and should be Hopefully, you have your team, as opposed to a positive one for the entire maintained strong enough just being in power or just team. You are now in a relationships that your showing them where power position to help your team new subordinates already lies. A clever or wise leader in a way you could not as have a deep respect for does not seek respect; their peer and colleague, you and understand your they earn respect. You do so pull everyone along, you expectations. Coach those this by outlining how your will all thrive and you will who find it difficult to come team can now expect you succeed. to terms with the new to work on their behalf. It have been promoted into a circle of managers, you would be cultivating new relationships in consonance with your new position. As part of the process of growing out of your old role into a new one, you must gradually detach yourself from day-to-day friendly banters and other mundane conversations that you used to engage in with your erstwhile peers. Keep an open office but avoid becoming stoic.
Get to know your new peers Actively seek out your new peers; get to know them by name. They have been in your position before and may have experienced
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END OF YEAR THANKSGIVING SERVICE & COCKTAIL A thanksgiving church service, staff durbar, cocktail and dinner dance have been held to climax activities marking the end of the 2018 financial year.
congregation to pray peaking at the He pleaded with staff to He said it is good to do for the nation, the lift themselves “above hard work but it a better thanksgiving banking sector, the service on theme: comments that would to do smart work. He Rural and Community not help in the forward prayed for strength and “appreciation and Banks (RCBs), Board, thanksgiving for our march of the Bank”. wisdom to execute all Management and Staff the strategies of the identity in Christ”, of the ARB Apex Bank Ayeh said “we should all RevS Emmanuel Bredzei, Bank. and also prayed for the be minded by the things He said the new three- Head Pastor of the Teiman prosperity of the Bank. we focus our energies Branch of the Global year strategic plan “is on. The best legacy we just a document which Evangelical Church, who Staff Durbar can leave is to make this was the guest speaker, place better than we we should all strive to revealed that sometimes, The staff durbar came to meet it”. live by”. “the things we pray against was opened by Alex Mattah charged every Kwasi Awuah, Deputy were attitudes that we need MD’s Closing Remarks member of staff to to change at the workplace”. Managing Director of endeavour to know the the ARB Apex Bank, who In his closing remarks mission and vision of the asked every member of at the staff durbar, Bank. staff to participate fully Kojo Mattah, Managing Rev Bredzei said Jesus in the event. Director of the Christ, the reason for He said the reason Roderick Ayeh, Bank, thanked the celebrating Christmas, management team for why we are here is to was the answer to every Chairman of the Local serve our customers to Union, asked staff to their immense support in problem and charged the the year. their satisfaction. He congregation to “commit ready themselves for encouraged the staff all our burdens unto him”. the challenges ahead He also thanked the staff to “focus on the big in 2019. He urged staff for the hard and smart picture” of seeing the Rev Bredzei led the to focus on the core work they have been ARB Apex Bank and the business of the Bank. doing.
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RCBs becoming more prosperous. Staff Cocktail and Dinner Dance He also noted that he was happy at A staff cocktail and dinner the appearance of every member dance climaxed the end-of-year of staff, who came to the events in celebrations. After the hard work, the white shirts and black trousers, with staff wined and dined late into the the touch of Christmas and charged night. the Corporate Communications The forecourt of the ARB Apex Bank and Marketing Team to explore the where the dinner dance was held saw possibility of helping the staff “dress a buzz of various dance forms from down at least once every quarter or every member of staff who expressed once every month from 2019”. appreciation and joy at the level of organization put into all the events.
END-OF-YEAR PROGRAMMES IN PICTURES
64 AN ARB APEX BANK QUARTERLY Q4, 2018 Issue The Rural Banker 4
Kojo Mattah, Managing Director, flanked by Gordon P. D. Dery, Head - Business Development, Marketing and Research launches the Brand Guide. ARB APEX BANK LAUNCHES BRAND GUIDE
and to position consistent delivery CUSTOMER SERVICE/ s part of ARB ARB Apex Bank as of a standardized TELEPHONE Apex Bank’s the most preferred service and the ETIQUETTE rebranding financial partner for communication of the both Government same message, the Telephone etiquette strategy, a and the RCBs. bank would over time is a basic part of BrandA Book has been be creating an image customer service and developed and During the that resonates with all answering a business launched for all staff of launch, the stakeholders. call at a work place ARB Apex Bank and the Managing Director involves a different Rural and Community underscored the He further added that approach relative to Banks (RCBs). importance of it is the staff that any call. Business creating a brand would be living the clients will usually identity for the brand and therefore call back because they It is intended that bank and the RCBs. urged all staff to be are familiar with the a full roll out for He stressed the ambassadors of the undivided attention the next three fact that the Brand brand across the given to them, as (3) years will Guide was carefully country. It was also well as the sense of streamline the bank’s designed to cover made clear to all staff professionalism and communications all aspects of the that the roll out would courteousness meted and service bank’s identity and be in phases and so at their requests. standards across all for that matter it is a staff should be open to stakeholder touch complete document implement all activities First impressions are points, in a bid to that all stakeholders as they fall due. lasting, and because develop a strong must abide by. such first impressions identity for Apex are done over the Bank and the RCBs In so doing, the phone, the customer
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will make an estimation very important in every 2018. At the end of the of your business by organisation. Therefore, training, staff were taken how the conversation taking the time to speak through techniques went with a staff. Being clearly, slowly and in a to improve the client prepared when you cheerful, professional telephone experience take customers’ calls voice is very important. and engagement, ensure shows them that you are It is in this regard and as staff understand the serious and you want part of the roll out of the fundamentals of human their business. Keeping Brand Guide that the ARB psychology when there the customers waiting Apex Bank organised a is no visual contact, for too long, speaking training programme to build techniques of incoherently and take every staff of the exceptional greetings inaudibly, playing music Head Office and Cocoa and engagement, use the in the background or House Branch through right posture, anticipate speaking rudely to them client engagement and and solve problems can seriously damage experience with effective leading to successful your reputation and drive telephone techniques relationship building, away business. and etiquette. reduction in complaints, and high professionalism Presenting a professional This training took place among others. image, both in person in Accra from 24th - 25th and on the telephone, is and 29th - 30th, October,
OLD VISUAL IDENTITY NEW VISUAL IDENTITY
ARB APEX BANK Together for progress
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MD’S WORKING VISIT TO RCBs
Bank. The meeting expansion of the Bank was the first of its kind s part of keeping established that and the team was that he as reigning a close working Sonzele Rural Bank briefed on the high chief has witnessed”. relationship was very sound and interest from potential He therefore invited with the Rural had met the Bank investors who wanted Directors of Lawra and Community of Ghana’s new to invest in the bank Rural Bank who A minimum capital Banks (RCBs), Management because of its high accompanied the of the ARB Apex Bank has requirement. potential for growth. ARB Apex Team to his palace to find time to visited banks in the northern Mattah who was sector of the country. The team was briefed also visit his palace. on the progress so accompanied on far made at installing the northern tour In his response, Mattah an automated teller by Curtis Brantuo, appealed to chiefs, The week long working Head of Legal sons and daughters tour led by Kojo Mattah, machine (ATM) to bring greater and Compliance; of the area to invest Managing Director of Gordon Dery, in the Bank to help the Bank, saw the team convenience to customers of the Head of Business promote its growth. visiting six (6) RCBs and Development, He also encouraged other stakeholders in Bank at Jirapa and the surrounding Marketing and the Bank to be open the Upper West and East Research, and John to potential mergers Regions respectively. areas. Nyamador, the Wa and other strategic Manager of the ARB investors. 1st Stop at Sonzele Rural At Lawra Rural Bank Apex Bank, paid a Bank The team also courtesy call on the Nandom Rural Bank Welcome The first point of call stopped over at Paramount Chief of was Sonzele Rural Lawra Rural Bank, the Lawra Traditional Nandom Rural Bank Bank at Jirapa in the where it held fruitful Area, Naa Puowele also had a fair share Upper West Region, discussions with Abeifa Karbo III. The of the Managing where Mattah and his the Board and Paramount Chief Director’s visit to the team held discussions Management. The who expressed his Upper West Region, with Directors and meeting discussed joy at the team’s visit where he spent time Management of the strategies for to Lawra Rural Bank with the Directors the growth and remarked that, “this and Management to
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discuss issues affecting and expansion drive readiness to support their them of the commitment the Bank. The discussions and encouraged them expansion drive. of the ARB Apex Bank to centred on how to help to make strategic support them in all areas RCBs in the Upper West investments into other Stopover at Builsa of their operations. Region to improve upon RCBs so as to help bolster Community Bank (BuCo their performance. The their balance sheet to Bank) Crocodile Greetings from Naara (Paga) one-day visit to Nandom allow them to undertake The award winning Rural Bank, was also big ticket transactions. Builsa Community Bank The final stopover of aimed at familiarizing Sissala Community Bank (BucoBank) located at the Managing Director the management of the Sandema in the Builsa of ARB Apex Bank was ARB Apex Bank with the The Sissala Community Community was also at Naara Rural Bank, challenges facing the is served by Sissala visited by the ARB Apex headquartered in Bank. Rural Bank which is Bank team, where the Paga; with branches
It was revealed that headquartered in Tumu team had deliberations in Navrongo and ATMs would be deployed and serves surrounding on the operations of the Bolgatanga. There was a at all four branches of areas such as Gbowlu, Bank and other strategic good interaction between the Bank, which would Hain, etc., and therefore investment opportunities. management and Kojo be the first of its kind plays a very significant Mattah and his team from in the whole Nandom role in the socio- It was revealed that the ARB Apex Bank. Traditional Area and economic development Bank had been admitted would serve customers of the Tumu area. Kojo to the Ghana Club 100 The team took the from as far as Burkina Mattah, Managing for 2018. The General opportunity to visit the Faso who come to Ghana Director of the ARB Apex Manager of BucoBank Crocodile Pond at Paga. to do business. Bank, paid a working indicated that they After a hard day’s work visit to the Sissala Rural had installed ATMs of travelling across the Officials of Nandom Rural Bank where he held which were serving the Upper West and East Bank expressed their discussions on mobilising community very well. regions it was a good satisfaction for the ARB investors as well as sightseeing to watch the Apex Bank team’s visit, increasing deposits in the It was also noted that crocodiles in the Pond as which they said was the Bank. as part of its expansion well as the welcoming first of its kind, since the drive, BucoBank was scenery around the establishment of ARB It was revealed that the considering some merger Crocodile Pond. Apex Bank. Sissala East District opportunities as well as Assembly had agreed investing in other banks. Kojo Mattah, Managing to invest in the Bank to Kojo Mattah advised Director of the ARB Apex ensure its sustainability. them to continue to seek Bank assured the Bank of partnership and other his continuous support Mattah assured the Bank strategic investment for their operations of the ARB Apex Bank’s opportunities. He assured
NANDOM RURAL BANK BUCO BANK Kojo Mattah with Management and Kojo Mattah with Management and Staff of Nandom Rural Bank Staff of Buco Bank
68 AN ARB APEX BANK QUARTERLY Q4, 2018 Issue The Rural Banker 4
SONZELE RURAL BANK Kojo Mattah nd Management team with Naa Puowele Kojo Mattah with Management and Staff of Abeifa Karbo III and the Board Chairman and Vice- Sonzele Rural Bank Chairman of Lawra Area Rural Bank
Crocodile greetings from crocodile pond in Paga, Upper East Region.
Q4, 2018 AN ARB APEX BANK QUARTERLY 69 Issue 4 THE RURAL BANKER WHY IT IS SIGNIFICANT FOR RCBs TO PROFESSIONALIZE AND RECOGNIZE MOBILE BANKERS According to the Efficiency Monitoring Unit of ARB Apex Bank Report for the 3rd Quarter of 2018, there are 144 Rural and Community Banks (RCBs) spread across the country with over 700 branches.
existing and prospective heir primary customers as well as responsibility other stakeholders. involves selling of This article will ‘Susu’ product. They therefore consider do this by collecting the reasons why RCBs ‘Susu’ deposits should professionalize Tfrom customers on a daily and recognize Mobile basis. They also collect ‘Susu’ Bankers and how it can loan repayment from ‘Susu’ be done. customers. Reasons why they should be professionalized and Furthermore, they recognized prospect for new ‘Susu’ customers as well as 1. They are the handling complaints. organization in the Some are expected to do customer’s eye. cross selling. Joseph Akossey - Head, Proven Trusted Mobile Bankers are a Solutions. Email: [email protected] It is significant to note link between RCBs and that some RCBs have ‘Susu’ customers as well different job titles for as the general public. visibility and their regular customer complaints their Mobile Bankers. More importantly, interaction with existing and objections, cross Some RCBs use the title they personify RCBs and potential customers. sell bank products, Sales Executives while in the customer’s eye. Moreover, they usually prospect for new others use Field Tellers. As representatives of put on branded apparels customers, among RCBs, everything they and corporate wear of others. As marketers, It is worth mentioning do or say can influence that Mobile Bankers have the bank, which helps they should be customers as well as for easy identification of professional so that helped scores of RCBs public perceptions of to grow their deposits. particular RCB brands. they can discharge their RCBs. Therefore, it is roles effectively as well For example, the total important for RCBs to In view of the fact that ‘Susu’ deposits of Atwima they epitomize the bank’s as remain customer professionalize them focused. This will Kwanwoma Rural Bank to help them conduct image, their negative for 2017 was over GH¢19 attitude and behaviour translate into customer themselves well so as satisfaction and loyalty. million. Otuasekan Rural to project a good image can dilute the brand Bank’s ‘Susu’ deposit of RCBs. It is significant instead of enhancing 4. They are catalysts for 2017 also stood at to note that, Mobile it. It is therefore for growth in deposit GH¢16,597,999. significant for RCBs to Bankers are the public The market size and Mobile Bankers play face of RCBs due to professionalize them and build their capacity so potential of the ‘Susu’ a critical role in rural their high visibility. market are huge. banking and hence They are known by the that they can reflect well on the brand values and This is due to the fact management of RCBs public more than the that a large chunk of must professionalize other staff members and vision as well as the bank as a whole. business customers and recognize them. hence they should be are in the informal This implies that, they recognized. 3. They are marketers sector of the Ghanaian should be helped to 2. They are the brand Mobile Bankers perform economy. These conduct themselves in customers perceive a professional manner Mobile Bankers are the role of marketers. Why? They sell ‘Susu’ the ‘Susu’ product to when dealing with synonymous with be convenient and RCBs due to their high products, handle
70 AN ARB APEX BANK QUARTERLY Q4, 2018 Issue The Rural Banker 4 attractive. Therefore, 2. Dignify and respect Conclusion when Mobile Bankers Mobile Bankers are professionalized and Mobile Bankers play a recognized, they will be It is sad to say that some pivotal role in deposit able to mobilize more ‘Susu’ managers and staff of some mobilization and therefore deposits to help grow the RCBs do not recognize they should be supported deposit portfolio of RCBs. Mobile Bankers. They to help improve their view them as outside the professional outlook and 5. The role of the Mobile mainstream staff, people behaviour. Bankers is stressful and with low qualifications demanding and a lowly job. It is worth The role of a Mobile Banker mentioning that their job is demanding and stressful title and low qualification and hence they should be do not matter. What matters recognized by RCBs. Why is the role that they play am I saying so? and its impact on the performance of the bank. Mobile Bankers walk a Therefore, RCBs should long distance under the respect and dignify them scorching sun every day to because they are internal visit customers to mobilise customers and partners for deposits. They also go deposit growth. through emotional labour. This occurs when Mobile 3. Job Promotion Bankers are supposed to Mobile Bankers who are suppress their true feelings high performers and have in order to display certain the requisite qualification positive attributes such should be promoted to as empathy, friendliness, occupy different position. smiles, courtesy among others, when interacting 4. Standard of with existing and potential professionalism customers. It is even alleged In order for Mobile Bankers that female Mobile Bankers to act professionally, RCBs are sometimes subjected should have standards to sexual harassment by of professionalism that their male customers. It Mobile Bankers are is important to note that, expected to adhere to. some ‘Susu’ customers The standard should spell are difficult and overly- out professional attitudes demanding, thereby making and behaviours (desirable the work of Mobile Bankers behaviour) that Mobile very stressful. Bankers should display In addition to the above and those that they should points, Mobile Bankers avoid. deal with conflicts such 5. Provide feedback as person/role conflict, organizational/client ‘Susu’ Coordinators/ conflict and inter-client Monitors should regularly conflict. offer feedback to Mobile Bankers as to whether How to professionalize and they are demonstrating recognize Mobile Bankers professionalism in their 1. Provide effective work or not. This will go and regular training a long way to aid Mobile programmes Bankers in improving their professional kills. ‘Susu’ Considering the fact coordinators and managers that the vast majority of who work hand in hand Mobile Bankers are Senior with Mobile Bankers should High School leavers and endeavour to set good therefore lack professional example when it comes to skills, they should be acting professionally. This provided with regular will no doubt, inspire Mobile training, to improve on Bankers to imitate their their skills so as to conduct examples. themselves in a professional manner.
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