Nkosuohene of Kwahu Nkwatia Nana Owiredu Wadie I and family presented Ghc500,000 and further promised to pay 50% of the capital requirement by the regulatory body for the establishment of Koforidua Rural Bank PLC.
Nana Owiredu Wadie I, underscored the importance of rural banks in enhancing development and hence urged residents of New Juaben to invest and buy shares in the bank.
“Rural banks operate under a specific mandate to support development projects and provide banking and financial services to the community’s people. I encourage everyone present here today who has the means to invest in this wonderful project and become pioneering stakeholders of this community bank. Community development is a collective responsibility”, said Nana Owiredu Wadie I.
Koforidua Rural Bank PLC, an initiative by Omanhene of New Juaben Traditional Area Daasebre Kwaku Boateng II aims at stimulating the local economy and addressing climate change-related issues.
The mission of the bank will be anchored on five pillars including woman empowerment, support for small and medium-scale enterprises, agriculture development, and youth empowerment.
According to Omahene, the Bank will also prioritize environmentally friendly projects such as renewable energy, energy efficiency, and waste recycling as well as eco-friendly businesses by financing sustainable initiatives aimed to contribute to environmental conservation, reduction of carbon emissions while driving economic growth and aligning with global efforts to achieve the sustainable development goals.
Recognizing SMEs as the backbone of the local economy, the DaasebreOkwawu Kwaku Boateng III assured that the bank would provide flexible and affordable financial solutions to help entrepreneurs expand their businesses, create jobs, and contribute to the local economy.
Agriculture, which remains a cornerstone of Ghana’s economy, is also a key focus of the initiative. Daasebre noted that the bank would provide farmers with tailored financial products, technical training, and access to modern tools to help them adopt innovative practices, boost yields, and ensure food security.
The fundraising event witnessed significant contributions by other attendees.
It is envisioned that the bank will be established in 2025.
Meanwhile some traders and market women in the Koforidua have lauded the initiative, expressing optimism about the bank’s potential to expand access to soft loans to boost their trades and transform the local economy ,reduce youth unemployment and improve livelihoods.
