Set up cash outlets to serve rural population – Banks urged

Major banks and financial institutions in the country have been urged to set up cash outlets in deprived communities to serve the rural population.

According to Madam Justina Owusu-Banahene, the Bono Regional Minister, that would further whip the interest of the rural folks to save money.

Interacting with the heads of financial institutions in the region at a meeting in Sunyani, the Regional Minister underscored the need for the financial institutions to reach out to the rural population and not only explain banking policies but also “sell banking products” to them.

She noted it was unfortunate that many farmers and petty traders in rural communities kept their monies at homes because they could not easily access the services of banks and financial companies in their respective areas.

“We can’t continue to deny this our rural population banking services and allow them to risk keeping their monies at homes”, Madam Owusu-Banahene stated, and urged the banks to extend and intensify public sensitisation in the rural communities about the relevance of saving money.

She said about 60 per cent of the regional population were farmers, hence the need for the banks to reach out, build and strengthen relationships with the rural population for mutual benefits.

Madam Owusu-Banahene further implored the financial institutions to support and contribute to the holistic development of the region by executing their corporate social responsibility programmes, particularly to enhance educational and health infrastructure in the region.

The Regional Minister also stressed the need for the financial institutions to network effectively and find innovative ways of strengthening security in the banks.

Some of the heads of the banks who spoke during an open forum expressed concern about the “flourishing activities of black-market money exchangers” in the regional capital.

They appealed to the government to do more to restrict the activities of those black marketers which they noted were putting pressure on the Ghana cedi.