THE RURAL BANKER ISSUE 4 Q4, 2018 FEATURED BANKS Bongo Builsa Fiaseman BIENNIAL GENERAL MEETING HELD AT BOLGATANGA Comfort Owusu The first female Executive Director of the Association of Rural Banks EDUCARE PLAN The perfect support for your child’s education! @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. t Integrity Excellence Teamwork Commitment e Creativity r c c i SEND AND RECEIVE MONEY Across our Remittance & Transfer Platforms Reach us on our hotlines: AMENFIMAN 020 203 0060, R U R A L B A N K 020 203 0063 2 AN ARB APEX BANK QUARTERLY ...Your Success Our Pride! Website: www.amenfimanbank.comQ4, 2018 E-mail: info@amenfimanbank.com Issue The Rural Banker 4 EDITOR’S DESK Maximus Attah CHOOSE A RURAL BANK TODAY! 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.