Ekumfiman Rural Bank offers financial support to women groups

The Ekumfiman Rural Bank in the Mfantseman District of the Central Region, has offered credit facilities to 600 women groups to expand their businesses. The loans, which ranged from 200 Ghana Cedis to 1,000 Ghana Cedis was meant to reduce poverty, improve the living conditions of the beneficiaries and inculcate savings habit in them. Mr Samuel Kwesi Barnes, General Manager of the bank, who disclosed this to the Ghana News Agency at Ekumfi Essuehyia, said the financial entity had made giant strides to render quality services to the people. He said the bank was established more than two decades ago, with an ultimate aim of offering financial support to fishermen, Fishmongers, farmers and the business community. According to the General Manager, the bank needed enough capital to support a number of women groups who had been on the waiting list for a long time to access credit facilities. He appealed to President John Evans Atta Mills and other citizens from the area to support the bank in order to meet the expectations of the people. Mr Barnes said the bank was the only financial institution serving more than 50 towns and villages in the area. It has four branches at Ajumako Mando, Manakessim, Anomabo and Ekumfi Otuam. He said although the bank had met the Bank of Ghana capital requirement of 200,000 Ghana Cedis, it was confronted with liquidity problems. Mr Barnes said the bank had launched series of products to assist salary earners, petty traders, fishermen, fishmongers and businessmen among others. It had also instituted a special package for newly trained teachers posted to the district to attract them to stay to promote educational pursuit. Mr Barnes said the bank would hold its 25th Annual General Meeting this year, to declare its financial position to shareholders.