Financial
service provision in places outside of Ghana’s big cities has been upheld by
mostly rural banks and microfinance institutions.
But
majority of the population still remain unbanked, prompting the need for deeper
penetration into local communities with financial inclusion.
The
Royal Bank, a wholly owned Ghanaian universal banking entity, is pushing its
operations to offer services to deprived communities.
Head
of Financial Control and Strategy, David Okyere Nyarko, tells Luv Biz training and
financing for local businesses is among priority areas of the bank.
“We
are not just looking at areas which are very densely populated but we are going
into communities outside the main business districts where the people don’t
have banking facilities to provide these services to them,” he stated.
According
to Mr. Okyere Nyarko, the focus is to spread employment opportunities to such
areas and extend other support services to the local communities.
Within
a year of operations, The Royal Bank has established 12 branches with a target
of an additional 25 by end of year. The bank chalked a Gh₵13.1 profit in its
first 16 months of operations.
Story
by Kofi Adu Domfeh
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