New Juaben Omanhene to set up rural bank for Koforidua

A Fund-Raising ceremony to set up a new rural bank at Koforidua in the Eastern Region has been organised. 

The bank, to be named the Koforidua Rural Bank PLC, is an initiative of the Omanhene of the New Juaben Traditional Area, Daasebre Kwaku Boateng III.

Such a move is to ensure community development of the traditional area and improve the socio-economic conditions of the people in the area.

The Omanhene, who is committed to putting up such a bank stated that it was time to set up a bank for Koforidua to enable the people of the area to do their businesses effectively and efficiently without any hindrance.

Right direction

Daasebre Boateng described the bank as a step in the right direction, and indicated it would help to address key areas critical to the shared future of the people of the New Juaben Traditional Area.

"I'm very much committed to ensuring that the setting up of a Koforidua Rural Bank PLC is realised to improve the socio-economic conditions of the people in the area.

"Let's support the traditional area to put up a new rural bank to create more job opportunities for our teeming unemployed youth in the traditional area for the benefit of all," the Omanhene stated.

Five pillars

He mentioned that the bank’s ultimate mission and vision would be anchored on five pillars namely rebanking, women empowerment, support for small and medium-scale enterprises, agriculture development and youth empowerment.

Financial support

Daasebre Boateng indicated that the bank would also offer women-specific financial products, entrepreneurship training and access to credit facilities to enable women to thrive in business and leadership roles.

"The bank will prioritise environmentally friendly projects, contributing to environmental conservation, reducing carbon dioxide emissions, and driving economic growth',  Daasebre Boateng stated.

He emphasised that supporting small and medium-scale businesses and enterprises had also become the key focus area for the bank.

"The bank will provide tailored financial products, technical training and access to modern agriculture tools to farmers, helping them to adopt innovative practices, increase yields and ensure food security,” Daasebre Boateng indicated.

Environmentally friendly

Daasebre Boateng said the traditional Council intended to support and finance environmentally friendly activities within the New Juaben area.

He said it would focus on renewable energy, waste recycling, energy efficiency and eco-friendly projects.

The Omanhene stated that the bank would also create employment opportunities. 

Writer's email:haruna.wunpini@graphic.com.gh