By
Samuel Akumatey, GNA
Ho, Oct. 16, GNA – Togbe Afede XIV,
Agbogbomefia of Asogli State and Board Chairman of the National Investment Bank
has called on Rural and Community Banks in the country to brace themselves up
for a possible clean-up of the rural banking sector.
He said it was crucial that the ARB Apex Bank
provided timely signals to RCBs to prevent shockwaves associated with financial
tremor.
“As RCBs, let us try to put our houses in
order even as the regulators continue to tidy up the universal banking sector.
Let us continue to strive to become better because as the dust begins to settle
on the Universal Banks, the Regulators would start to shift their torchlight on
the RCBs, and when we are not ready, we shall be caught unawares”, Togbe Afede
stated.
He said this in a speech read on his behalf at
Apex Bank’s 17th Annual Managers Conference in Ho, which was on the
theme: “Rendering Service with Passion; a Panacea for Competitive
Advantage.”
Togbe Afede entreated Chief Executives, and
General Managers of RCBs to let their work be guided by transparency because
their decision had strong bearings on the improvement of governance systems at
the Banks.
He said network of RCBs was a “unique”
attraction to investors eyeing business opportunities in peri-urban areas, and
that they must eliminate internal competition, and foster greater collaboration
with Apex towards growth.
“In fact if all RCBs should work together,
they could become a greater force to reckon with as the Universal Banks operate
as disparate entities, competing and foraging for the same business space. It
is also essential to note that competition amongst sister RCBs is inimical to
the growth and expansion of the sub-sector”, he said.
Togbe Afede commended Apex’s robust
Information and Communication Technology platform, and encouraged RCBs to
utilise it for common good.
He also praised Apex for introducing the
Agency Banking Model, saying it would help expand its reach nationwide,
increase financial inclusion, and enhance livelihoods by creating lots of small
businesses.
Mr Kojo Mattah, Managing Director of ARB Apex
said the Bank was going through a restructuring process to reposition it to
better serve and remain a dominant force in the rural financing sector.
He said as part of the restructuring, seasoned
consultants had been engaged to equip executives with contemporary strategies,
and its staff stock had been replenished with experienced hands, expected to
boost its operations.
GNA