The board, management and staff of Kwaebibirem Rural Bank Limited on Saturday 29th January 2022, at Asuom, organised a befitting send-off party for its immediate-past General Manager, Mr. Michael Agyeibi Agyekum.
The recognition and send-off party were done at the sidelines of a staff durbar organised by the bank to review and reward performance for the year 2021.
In a citation read by the bank’s Board Chairman, Carlos Kingsley Ahenkorah, to honour the former General Manager, the bank recognised and appreciated the immense contribution Mr. Michael Agyeibi Agyekum has made toward the bank’s growth in his eight and a half years of dedicated service.
“For eight and a half years, you dedicated your knowledge, time and passion to restoring the finances and ensuring smooth running at Kwaebibirem Rural Bank Limited; especially, at a time when the bank’s prospects seemed bleak,” the citation said.
The Board Chairman continued that the outstanding performance by Mr. Agyeibi Agyekum in carrying out his duties has left an indelible mark on the lives and morale of the bank’s staff, and hoped that this legacy will continue to have positive ripple-effects on the bank. He recounted some major legacies Mr. Agyeibi has left behind, especially the Susu Money Box, Micro finance products and repackaging existing products to be more attractive.
In his speech to accept the recognition, citation and gifts presented to him, former General Manager Mr. Michael Agyeibi Agyekum said he is highly honoured that the bank organised this special send-off in appreciation of the good work he did there. He said he did not do it alone but with great support from the Board, Management and Staff. He hinted that Kwaebibirem Rural Bank is currently one of the strongest banks in the Eastern Region and Ghana.
He explained that in 2012 payment for GH¢500 was a problem. The bank was completely liquidated. The Apex Bank, seeing the red alert, sent an official to come and restructure the bank for six months. After three months, the Apex Bank official decided not to continue further – for reasons best known to him.
He, Mr. Agyekum, was therefore called to take over in 2013. He said at that time in 2013 total deposit was GH¢8.4million; but at the time that he ended his tenure of office in 2021, total deposit stood at over GH¢36.8million.
He added that Capital Adequacy was negative (-5%) in 2013, but in 2021 it was positive 10.44%. Profit for 2021 is historic in the books of Kwaebibirem Rural Bank over its 26 years of banking. He advised staff to be loyal to the bank, customers and themselves as staff of the bank, to enable the new CEO continue grow the bank even more than what has been achieved.
Fraternal and goodwill messages were delivered by the Chief of Asuom, Osabarima Ofosuhene Apenteng II; Asuom Mintahene, Osabarima Baah Ntiku; the District Pastor of Asuom Presbyterian Church of Ghana, Rev. Emmanuel Lartey; the Staff union chairman and friends. They all recognised the good work done by Mr. Agyekum and wished him well in his future endeavours. Gifts were presented to him by all 7 agencies which the bank operates in its catchment area (Kwae, Kade, Asamankese, Oda, Pramkese, Boadua and Asuom, the bank’s head office).
The bank’s Chief Executive Officer, Mr. Prince Obiri Yeboah, expressed his deepest appreciation to the legacy Mr. Agyekum has left behind, and assured the Board, Management and Staff that he will do his possible best to continue the good work his predecessor has bequeathed to him.
About Kwaebibirem Rural Bank Limited
The Kwaebibirem Rural Bank Limited was established in 1984 and opened its doors to the public for banking business on 25th August 1984, initially to serve the people of Kwaebibirem and its environs. Shares of the bank are open to everybody who desires to become a shareholder.
The bank is located within the natural resource belt of Ghana, where forest products like timber, palm oil, citrus fruits, minerals like gold and diamond abound and are mined; and where bustling commercial activities are on the rise.
The bank operates within the confines of 4 municipalities/districts: namely Kwaebibirem Municipality, Denkyembour District, West Akyem and Birim Central Municipalities. It operates from 7 Agencies situated at Asuom – Headquarters, Kwae, Kade, Asamankese, Boadua, Pramkese and Akim Oda, all in the Eastern Region of Ghana.
