Kwabena Okyere Darko-Mensah, Western Regional Minister, has praised Lower Pra Rural Bank PLC for the significant achievement and innovations it has brought to the financial sector over the years.
“You have extended your services to other parts of the region, and supported our young men and women to nurture and expand their businesses,” he said.
“Continue to invest in financial literacy programmes by educating the youth to understand that money is not for expenses but for investment and business; let us own the productive assets to be rich,” he advised.
Mr. Darko-Mensah was speaking at a grand durbar to climax the 40th anniversary celebration of Lower Pra Rural Bank PLC at Shama in the Western Region.
He encouraged management and staff to be committed and dedicated to duty for the bank to win more laurels.
“Your workers are currently 500. Within the next 10 years, I want to see about 5,000 of them as you continue to grow and expand to all corners,” he added.
“As of 2023, the bank has 170 credit and savings associations with an average of 10 members in each association at 21 communities,” said Isaac Kwamina Afful, Chief Executive Officer-Lower Pra Rural Bank.
The CEO pointed out that the bank has created development within its catchment area, especially Shama district. “We can confidently conclude that the 40 years of existence have brought development, and therefore improved the standard of living in the area.”
Felicia Aba Dawood, Chairperson-Lower Pra Rural Bank, mentioned that from humble and modest beginnings the bank has grown from a micro loans and savings financial institution to an enviable rural bank.
“Despite the challenges brought about by the Domestic Debt Exchange Programme, we want to assure you – our loyal and dedicated customers – that in the midst of all these challenges, we shall never relent or relax on our oars,” she added.
Curtis Brantuo, deputy Managing Director-ARB PLC, mentioned that Lower Pra has been one of the country’s leading banks.
He called on current shareholders and citizens of Shama to purchase additional shares in the bank to help shore-up its capital base.
This, he noted, will help the bank undertake more financial intermediation projects, support SMEs and grow the local economy.
He further congratulated the bank on a successful 40th anniversary celebration.
History
Lower Pra Rural Bank PLC, formerly known as Esseman Rural Bank Limited, was incorporated in January 1983 and licenced to operate the business of banking on August 31, 1983 as the 66th RCB in Ghana. The bank’s three promoters were Dr. E.N. Tackie-Otoo, Joh Kukubebi and V.K Enskson, all of blessed memory.
From a bank staff strength of four, it currently has 408 staff with 17 branches and six mobilisation centres criss-crossing the length and breadth of Western Region.
