Channel DACF Through Rural Banks — ARB

Mr Julius Debrah,Minister of Local Government and Rural Development (3)The Association of Rural Banks (ARB) – Ghana, has called on the government to consider channelling the District Assemblies Common Fund (DACF) through rural banks to support development in rural communities.

This is because rural banks have been undertaking projects which inured to the benefit of the people, and channelling the DACF through them will enable them to further contribute towards enhancing the living conditions of the people.

The call was made at the 18th Biennial General Meeting (BGM) of the ARB by Dickson Osei-Asibey, president of the association.

The meeting, held in Tamale, was to take stock of its previous year’s activities and plan for the years ahead.

Mr. Osei-Asibey argued that channelling the DACF through rural banks would strengthen their financial base to better serve the rural economies, by helping small and medium-scale enterprises to improve their performance.

He said there was the need to take rural banking seriously, if the country was to develop because “Rural banks are closer to the people and are delivering projects aimed at improving the lot of the people.”

Mr. Osei-Asibey called on the Bank of Ghana to continue to paternalize ARBs to become fully integrated into the national financial services industry for accelerated growth and rapid socio-economic development.

He urged ARBs to be innovative and creative to be truly community-based and local, to serve as an effective link to the informal system of the rural financial services industry.

Mr. Haruna Iddrisu, Minister for Employment and Labour Relations, who represented Professor Kwesi Botchwey, Chairman of the National Development Planning Commission as the keynote speaker, urged rural banks to target the vulnerable groups with financial packages, to improve their small businesses for improved living conditions.

Alhaji A. B. A. Fuseini, Deputy Northern Regional Minister, who represented the Northern Regional Minister, commended rural banks for coming out with packages and products that are helping to eradicate poverty and enhanced rural productivity and employment.

The Regent of Dagbon, Kampakuya — Naa Abdulai, whose speech was read on his behalf, commended rural banks for undertaking initiatives that ensured community development.

GNA

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