Kumawuman Rural Bank PLC at the Sekyere Kumawu District of Ashanti Region has celebrated the Bank’s forty years with a call on the directors of the bank to carve a new strategy to for the bank to develop further.
Climaxing the celebration, which coincided with the 29th Annual General Meeting (AGM) of the bank under the theme” Kumawu Rural Bank at Forty: Resilient Banking and Excellent Customer Care”, the Chief of Kumawu ,Barima Sarfo Tweneboah Kodua, expressed appreciation to the founding members of the bank and the current board.
The Chief of Kumawu also expressed appreciation to the shareholders of the bank and the dignitaries for their expert advice to the bank, assuring them their admonitions would be used for the bank to develop further.
The traditional leader urged shareholders of the bank to keep their shares with the entity since that kind of investment has everlasting benefit so long as the bank keeps making profit.
Barima Sarfo Tweneboah Kodua, whose birthday coincided with the 40th anniversary of Kumawuman Rural Bank, further urged directors of the bank to work hard for the bank to see growth and further advised directors of the Bank to pay attention to the grievances raised by the shareholders and address them accordingly.
Dr. Kwabena Duffour , the first board chairman of the bank, heralded the day as a symbolic day since it was exactly forty years Kumawuman Rural Bank was born.
In an interview with the media, Dr Duffour walked down the media through the history behind the bank, revealing that before the Kumawuman Rural Bank came into being, there was a Ghana Commercial Bank (GCB) outlet in Kumawu, which was operational and was brought to the area by the late Krobo Adusei,who was the Member of Parliament (MP) for Kumawu under the CPP government , however, the bank was closed down following the overthrow of the first president of Ghana, Dr. Kwame Nkrumah.
The closure of the bank, according to him, saw residents of Kumawu going to Effiduase to transact banking activities, a challenge that compelled them to set up Kumawuman Rural Bank.
Dr Duffour urged managers of the bank to put forward a new strategy to enable the bank develop further.
He expressed appreciation about the opening of a new Kumawuman Rural Bank branch in Drobonso, saying the place has huge investment opportunities.
Established on 29th October,1982, with a deposit of Gh¢ 60.00, the Kumawuman Rural Bank was set up by a group of people called “Kumawu Biako Ye Kuo” in Accra, who conceived the idea in 1980 to set up a bank to meet the socioeconomic needs of the people in and around Kumawu.
Fast-forward to 1982, the dream of setting up a bank was materialized and the bank was born, an institution which has been a blessing to Kumawu, Ashanti Region and Ghana as a whole.
It began operations with four staff which has increased to 307 staff, with thirteen branches and a customer base of over 165,000 and a deposit of Gh¢147,981,170.00 cedis.
