Bosomtwe Rural Bank supports 4 institutions to fight spread of coronavirus

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CEO Francis Agyei Bekoe (with left arm outstretched) presenting some of the items at Kuntanase District Hospital while the staff look on

The Bosomtwe Rural Bank Limited at Kuntanase in the Bosomtwe district of Ashanti Region has

presented Personal Protective Equipment, PPE and disinfectants to four institutions in its operational territories.

The beneficiary institutions include Kuntanase District Hospital, Bosomtwe District Police Command, Asokwa Police Divisional Command and Suame Police Divisional Command.

The donated items were 40 boxes of handwashing soap, 80 packs of tissue paper and 30 boxes of hand-sanitisers among other PPE.

The Chief Executive Officer of Bosomtwe Rural Bank, Mr. Francis Agyei Bekoe who presented the items on behalf of the bank, said the donation forms part of the bank’s corporate social responsibilities; and is also to support government’s efforts to curb the spread of coronavirus which has so far infected 3,091 persons and claimed 18 lives.

According him, the pandemic has affected economic activities in their operational area, and so there is a need to contribute in government’s efforts to curb or control spread of the virus, hence the support.

Representatives of the beneficiary institutions who received the items on behalf of the various institutions were thankful to the bank for its kind gesture.

They further expressed their appreciation for the numerous supports the bank has been giving to them, and further called on other corporate entities to emulate the Bosomtwe Rural Bank example -particularly in this abnormal time of COVID-19.

Bosomtwe Rural Bank Limited recorded approximately GH¢3.9million as total share capital as at close of 31st December 2019.

The amount, which far exceeded Bank of Ghana’s minimum threshold, is about 290% more than the minimum GH¢1million required by all rural banks in Ghana.

The bank has recorded consistent growth in its stated capital since 2015 to dat,e and has been mindful of making a conscious effort to grow its capital.

The bank currently operates twelve branches scattered within the Kumasi Metropolis and adjoining districts. They are Kuntanase, Aputuogya, Jachie, Atonsu Bokro, Atonsu Agogo and Kokofu. The rest are Afia Kobi Market, Suame Magazine, Edwenase Market, Trede, Ahema Kokoben and Abuakwa.

Bosomtwe Rural Bank Limited was incorporated in Ghana in November 1981 and authorised to carry on the business of banking under the Banking Act 1970 (Act 339) on 9th December 1982, with a share capital of seven hundred and fifty Ghana cedis (GH¢750) raised by 860 shareholders.

In support, the Bank of Ghana contributed an additional one hundred and twenty-five Ghana cedis (GH¢125) in the form of non-voting redeemable preferences shares. The bank has achieved remarkable growth since its establishment.

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