Business News of Tuesday, 6 November 2018
Source: Patrick Paintsil
Microfin Rural Bank (MRB), headquartered at Gomoa Pomadze in the Central Region, has been honoured with “Recognition for Support of Women in SMEs Award” at the maiden Ghana Business Awards held at the Kempinski Gold Coast Hotel in Accra.
The fast-rising rural bank received the prestigious award for its immense contribution to the growth of small and medium enterprises within its operational area—especially women-led businesses—a significant intervention that has as well helped to improve the livelihoods of these beneficiaries.
A board member of the bank, Alhaji Mohammed Yusuf Twumasi, in an interview said MRB feels humbled by the recognition, adding that it will push the bank to strive for greater heights as regards driving financial inclusion and improving the livelihoods and businesses of rural dwellers.
He indicated: “This award means a lot to us; with what is going on in the financial market, we feel that this recognition is going to boost the morale of management and staff of the bank to work even more harder; and also the board to make sure that things work properly to bring the bank ahead of the competition.
In the past five years, we started slowly but with the support of management and the board, we have been able to serve a number of rural folks in coming up with their businesses, I believe this is something that has been recognized with this award.”
Alhaji Tsumasi said MRB operates a unique model of rural banking which keeps them ahead of the competition over the last five years: “MRB is in touch with its valuable customers, we have time for them, listen to their concerns, and are able to solve their problems as and when they need. We don’t look at who the customer is, no matter what it is we make sure that we give them excellence services. We make sure we don’t just lend the money to clients, we always supervise what the money is being used for and help grow the business with them.” He said the recognition will spur the bank on to better serve its clients and customers and also reaffirms the solid position of the bank to support government’s social intervention programmes within its operational area.
Alhaji Tsumasi noted: “We are ready to take on board any fund that will be used as a result of these projects so we can move from them to support the rural folks, because it is one of the flagships programmes and we think we are ready to support it.”
In the next five years, Alhaji Tsumasi said the bank will strive to maintain its position as the leading rural bank in the Central Region, a projection that will be driven largely by an aggressive deployment in IT.
He said MRB has beefed up its management team in recent times to match its rapid growth and that places them in a strong position to perform even better in the years to come. “Existing and potential customers and investors should continue to do business with us; we model products that fit their business needs and income levels.
By so doing we are contributing to the growth and expansion of the rural economy through financial inclusion,” he said.