Amantin & Kasei Community Bank to open Kejetia branch

Michael Wilberforce Osae, General Manager-Amantin & Kasei Community Bank

Amantin and Kasie Community Bank Limited headquartered at Amantin in the Atebubu-Amantin Municipality of the Bono East is scheduled to commence operation at its Kumasi-Kejetia market mobilisation centre in February 2020.

This follows acquisition of final authorisation from the Bank of Ghana to open the mobilisation centre. Development of the Kejetia mobilisation centre (MC) which started in 2017 will be the first (MC) among eight branches of the Bank across Bono East and Ashanti Regions. The other branches of the Bank are locate at Atebubu, Kwame-Danso, Yeji and Kajaji (Bono East), and Ejura and Ahwiaa in Ashanti.

“Opening on the MC at the business-heart of Kumasi is in line with the Bank’s growth strategy and vigorous deposit mobilisation drive to mobilize enough funds to cushion businesses to thrive,” General Manager of Amantin & Kasei Community Bank, Michael Wilberforce Osae, told B&FT in an interview.

He said the Community bank has budgeted to mobilise a total deposit of about GH¢35 million by the end of 2020, adding that “by virtue of our customer-centric services, I’m very optimistic that this target will be met.” All other things being equal, the 2020 deposit target will be higher than the previous year achievement of GH¢30 million.

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The deposit target has informed the bank’s loans and advances budget of GH¢22 million for this year, representing an increase over the 2019 disbursement of GH¢17 million. With the coming on stream of the Kejetia branch, the customer base will shoot up, which will reflect on loans and advances, hence the allocation increase, the General Manager said.

He revealed that the bank has projected to offer loans to about 400 maize and cowpea farmers under a warehouse receipt system. The bank will leverage the ARB Apex Limited and Ghana Commodity Exchange (GCX) partnership to reach out to the farmers where their commodities will be used as collateral. The Apex Bank and GCX in October 2019 signed the deal aimed at transforming agricultural financing, especially for smallholder farmers.

“Already the bank was giving the farmers financial support but the warehouse receipt scheme has come formalise it and also benefit more farmers as well. This will help to reduce the level of poverty within the targeted areas-Amantin and Ejura with guaranteed market and better price,” Mr. Osae stated. The bank will also support other farmers in areas like Atebubu and Kwame-Danso. They are into the cultivation of rice and vegetables, he added. Besides, about GH¢3.5 million has been earmarked to assist micro-enterprises under its microfinance scheme.

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Commenting on other indicators, he indicated that the bank has budgeted to grow its assets value from GH¢33 million to GH¢37 million whilst it increase short-term investment from GH¢11 million to GH¢12 million by December 31, 2020. Meanwhile, the bank has cautiously set a modest profit target of GH¢700,000 for the year.

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