Kpando Assembly explores strategies to maximise revenue

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You Are Here: Home » General News , Lead Story » Former BoG Deputy Governor sees mergers of rural banks Page last updated at Monday, June 6, 2011 6:06 AM // Mr Emmanuel Asiedu-Mante, a former Deputy Governor of the Bank of Ghana, has said most rural banks could merged because of the new capital adequacy requirement and competition posed by increasing number of universal banks. “I think the Central Bank’s directive on minimum capital and the fierce competition on the Ghanaian banking scene will move the rural banks to consider merging as a means of survival,” he told journalists after the launch of his 327-page book on rural banking in Ghana on Saturday. The Bank of Ghana has pegged the new capital requirement for rural banks at GH¢150,000 but few of them had met the requirement.

You Are Here: Home » General News » Kpando Assembly explores strategies to maximise revenue

Page last updated at Monday, June 6, 2011 6:06 AM //

The Kpando District Assembly is exploring pragmatic economic strategies towards maximizing its Internally Generated Fund (IGF) beyond a hundred per cent mark.

The Assembly has therefore charged its Finance and Administrative and Economic Development Sub-Committees to brainstorm and evolve the necessary strategies towards actualizing that objective.

It, however, managed to mobilise a total IGF of GH¢192,627 out of target of GH¢212,615 representing 90.6 per cent for the 2010 fiscal year.

Mr Francis K. Ganyaglo, Kpando District Chief Executive (DCE) announced this at its first Assembly meeting at Kpando on Saturday.

He indicated that GH¢129,856 out of a budget of GH¢703,605 was realized from its IGF for the first quarter of 2011, which included revenue from the hiring of road equipment.

The DCE said the Assembly hoped to spend GH¢142,500 under its economic sector to execute five development projects and an additional amount of GH¢595,000 on its social sector for 17 projects and programmes.

Mr Ganyaglo said the Assembly intended to spend another GH¢1 million on administration to revamp its sub-structures and also expend GH¢295,500 to execute projects and programmes to ensure clean environment.

He said the Assembly had resolved to purchase a crawler dozer towards diversifying its sources of revenue from the traditional basis, which had outlived its economic strength.

Mr Ganyaglo said his administration was also exploring measures to procure a fibre boat to promote safety of lake transport and again boost economic activities of overbank and island communities.

He urged individuals and groups to embrace the emerging low-risk high return investment venture in fish farming.

On security, Mr Ganyaglo said plans were afoot to construct a new District Police station and rehabilitate those of Anfoega and Vakpo to appreciable standards.

Mrs Margaret Katty Krampah, Presiding Member of the Assembly called for new regimes and attitudes to towards work in order to meet the corporate aspiration of building a modern state.

Reverend Samuel A. K. Dunya, General Overseer of GlobeServe, a Christian development-oriented organisation announced that his institution would provide 30 boreholes worth GH¢348,000 of out 70 to be drilled nationwide as part of the “2011 Water for Life” project.

He requested for data on communities without potable water system to facilitate commencement of work.

Source: GNA

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Kpando Assembly explores strategies to maximise revenue