Some management staff and the board of directors of Akomadan Rural Bank Limited in the Offinso North district of Ashanti Region have paid a courtesy call on the Asantehene, Otumfuo Osei Tutu II, at the Manhyia Palace in Kumasi.
The visit’s purpose was to formally inform Otumfuo about the establishment of Akomadan Rural Bank, and also inform him of the bank’s inauguration and ask for his royal blessings.
The Executive Director of the bank, Rev. Isaac Baidoo who led the delegation, took the opportunity to share the rural bank’s vision and mission with Otumfuo. According to him, the Akomadan Township and its adjoining towns and villages are well-noted especially in tomato cultivation business, as well as women in petty-trading – but the absence of credit is a challenge.
Rev. Baidoo stressed that the primary objective of the bank will be to assist these petty traders with credit facilities to expand their businesses while inculcating the saving culture in them to improve their livelihoods.
The Board Chairman, Nana Boafour Konadu–Yiadom, officially told Otumfuo of the bank’s inauguration and extended a formal invitation for him to grace the occasion – and also cut the tape to open the bank.
Otumfuo in his response commended the board for taking the initiative to set up the bank with the principal aim of assisting petty-traders to improve their businesses. This, he said, will bring development to the area as well as create job opportunities for the people.
Otumfuo reiterated the need to put together a programme of financial literacy education for the people, and teach them basic book-keeping practices.
He further urged management of the board to consider engaging the services of the people of Akomadan when recruiting, since this will make the people comfortable to work with them.
The bank donated cash to support activities of the Otumfuo Education Fund and his Charity Foundation, and presented some drinks as custom demands.
The delegation comprised Rev Isaac Baidoo, Executive Director; Rev. Victor Kusi-Boateng; Thomas Kusi-Boafo; Prof. John Magnus Frimpong; Mr. Francis Owusu Ansah, and was led by the board chairman.