Akatsi: Mr. Daniel Dagba, the Municipal Chief Executive for Akatsi South, has emphasized the critical role that rural banking plays in combating poverty. He highlighted the significance of financial access in providing opportunities for individuals to improve their livelihoods.
According to Ghana News Agency, Mr. Dagba shared these insights during his address at the 42nd Annual General Meeting of Avenor Rural Bank Plc, held at Akatsi. He stated that loans are instrumental for farmers to acquire necessary tools, thereby enhancing productivity. Similarly, young entrepreneurs benefit from start-up capital, and market women gain a secure place to save their earnings, leading to improved financial security.
Mr. Dagba underscored the impact of financial intermediation in boosting both local and national economies. He praised Avenor Rural Bank for its focus on sound financial management and community support. However, he urged the bank to stay relevant by embracing digital banking, improving risk management, and expanding its services in response to the rapidly changing world.
Over the past four decades, Avenor Rural Bank has been more than a financial institution for traders, farmers, artisans, teachers, and small business owners in the municipality and beyond. Mr. Dagba acknowledged the bank’s significant contribution to promoting financial inclusion and improving lives through banking services, loan provision, saving encouragement, and support for local projects.
Mr. Dagba highlighted the meeting as a testament to the enduring partnership between the financial sector and local government, driving socio-economic growth in the area. He noted that such meetings are crucial for reviewing past performance, assessing challenges, sharing successes, and planning for a better future-principles that align closely with the work of the Municipal Assembly.
He also commended Avenor Rural Bank for its continuous support of local programs and events, such as Farmers’ Day and World AIDS Day. Mr. Dagba emphasized the importance of partnering with the bank to improve market infrastructure, support agribusiness, create jobs for the youth, and ensure fair access to financial services.
Mr. Dagba assured that the assembly remains committed to assisting businesses in succeeding and reducing poverty. He reminded the bank that growth should encompass transforming lives, building businesses, educating children, and empowering communities, not just generating profits.
Avenor Rural Bank Plc, headquartered in Akatsi within the Akatsi South Municipality of the Volta Region, has been ranked 43rd among 127 rural banks assessed nationwide under the 2024 performance review. This ranking was disclosed by Mr. Thomas Clarkson Adade, Board Chairman of the Bank, during the event held at Letsa Korba Hall of the Akatsi College of Education.