Rural banks urged to priorities loans for farmers

Business News of Monday, 12 January 2015

Source: GNA

Rural Bank

The District Chief Executive(DCE) for Ayensuano , Mr Mike Ofori Darko, has called on rural banks to give priority to farmers in their loan allocations to help them to increase their productivity .

He suggested that the loans could be customized into loans for fertilizer, improved seeds, small irrigation machines and any other products that could revolutionize technological injection into farming.

Mr Darko made the appeal at the opening of the Coaltar Branch of Agona Rural Bank Limited at Coaltar , the district capital of Ayensuano District .

The Bank is the first to be established in the Ayensuano District.

He indicated that majority of farmers were located in the rural areas where rural banks operated, and as such there was the need for collaboration to support agriculture which is the means of employment of the people in the rural areas.

He appealed to rural banks to reduce their lending rates to motivate farmers to access loans for agriculture and urged the banks to increase their interest rates on deposits to encourage people to save.

Board Chairman of Agona Rural Bank Limited, Major (rtd) Ben Donkor, advised the people not to keep their moneys in the house and farms but save them with the bank for safety and earn profits on them.

He urge the people to buy shares of the bank to become owners of the bank.

Mr Kwadwo Ayeh Kusi, Managing Director of ARB Apex Bank, said the Apex Bank ARB had instituted technological training and distance learning to help upgrade expertise of staff of rural banks.

He advise the community to pay back loans given them to ensure the survival of the bank and others to also benefit from their services.

The Mankrado of Coaltar, Nana Yaw Kwakwa II, advised the management of the Bank to build a good image for themselves to win the confidence of the people.

He explained that some microfinance institutions and susu collectors had deceived the people and bolted away with their savings and therefore the community would have to be convinced about the seriousness of the bank by their activities.

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