With a vision to establish itself as the leading provider of professional rural banking services within the Afigya Kwabre jurisdiction, Board of Directors, management and staff strive to set the highest standards of excellence and professionalism in everything they do.
Kwabre Area Rural Bank PLC. is located at Kodie in the Afigya Kwabre South Municipality of the Ashanti Region.
With only four years of existence, the bank has managed to grow its deposits by over 270 percent in the last two years. This is no small feat for a newly established rural bank. The bank has been profitable within just four years and is classified among the fastest-growing new rural banks in the country.
The bank has supported the Afigya Kwabre South Municipal and Afigya Kwabre North District with various social interventions, including yearly support for Farmers’ Day celebrations as key sponsors in both districts.
Products
The bank has products for both existing and prospective customers to enjoy a range of features and benefits, such as easy access to funds, competitive interest rates and low fees. The bank’s products are perfect for customers who value simplicity and flexibility, allowing them to manage their finances on their terms.
The team of experts is always available to assist customers every step of the way, providing personalised support and advice to help them achieve their financial goals.
Services
Kwabre Area Rural Bank offers a variety of services, including everything from chequing and savings accounts to loans and credit cards, as well as investment and wealth management solutions. With a focus on customer service and innovation, the bank strives to provide customers with the best banking experience possible.
A team of experienced professionals is available to help customers navigate the complex world of finance and make informed decisions about their money.
Bank history and operations
Kwabre Area Rural Bank PLC obtained its certificate to commence business on June 11, 2019 and was incorporated on June 27, 2019 with an authorised share capital of GH₵100,000,000 as a Public Limited Liability Company (PLC).
The Bank of Ghana issued the bank a licence to operate as a rural bank on February 11, 2020, with licence number 236. The bank began its operational activities on August 31, 2020, from the Head Office at Kodie, opposite the chief’s palace.
Core activities
The core activities of the bank include:
- Provision of current and deposit accounts for customers.
- Provision of savings and time deposit accounts for customers.
- Intermediation services for other financial institutions in the country, including the acceptance and discounting of bills of exchange.
- Custody services for securities.
- Provision of credit facilities to individuals, farmers, farmer groups, artisans, merchants, cooperatives, and other SMEs located in the bank’s catchment areas.
- Other commercial and financial activities to further the bank’s operations.
The bank strives to set the highest standards of excellence and professionalism in everything they do. Through the dedicated team and innovative approach, the bank aims to deliver exceptional financial services that meet the unique needs of its customers.
The goal of Kwabre Area Rual Bank PLC. is to deliver unparalleled financial services within the areas it serves. The highly trained, skilled and committed staff is dedicated to excellence in every aspect of their operations.
The banks mission is further strengthened by the unwavering support of the esteemed Board of Directors.
By consistently exceeding customer expectations, the bank aims to become the trusted financial partner for individuals and businesses in its jurisdiction.
Team Kwabre Area Rural Bank PLC. upholds the highest standards of integrity, value and cherish their customers, work as a professional team and, above all, treat others as they would like to be treated.
Contribution to financial inclusion
The Ministry of Finance (MoF) requested World Bank support in developing a National Financial Inclusion and Development Strategy (NFIDS) to increase access to financial services in Ghana and promote broader development of the financial sector.
At Kwabre Area Rural Bank PLC, management have implemented measures to support the government and World Bank-assisted initiative, NFIDS, efficiently.
The bank has developed groups for account opening. Currently, the bank has about 10 farmer groups across four districts: Ahafo Ano South West District, Afigya Kwabre South Municipal, Afigya Kwabre North District and Offinso in the Ashanti Region. These groups consist of over 100 members, most of whom are women.
Over GH₵ 700,000 in financial support for seedlings, farm inputs and other farming logistics has been provided to these farmer groups. The bank incorporates savings and credit support into their farming activities.
Groups from farming communities include Adugyama, Fedeeya, Biemso No. 1 and No. 2, Wawase, Ankaase, Mpobi, Adibinso and Ankaase.
About the CEO
Gilbert Osei-Gyimah, CEO
The entire team at Kwabre Area Rural Bank PLC is led by Gilbert Osei-Gyimah, the Chief Executive Officer (CEO). He is a results-driven banking practitioner with over 16 years of rich experience in accounting, banking operations, marketing, credit, risk management, fund management, anti-money laundering and compliance.
He began his banking career as an Operations Officer at Pacific Savings and Loans Ltd. and rose to the rank of Branch Head. He later joined Yaa Asantewaa Rural Bank Ltd. as Operations Manager and subsequently as Acting General Manager, contributing immensely to the bank’s start-up structures and operational efficiency.
Before joining Kwabre Area Rural Bank PLC,. Mr. Osei-Gyimah served as Compliance and Risk Manager at Amanano Rural Bank Ltd., where he established the Compliance and Risk Department and improved operational processes in Know Your Customer (KYC), Customer Due Diligence (CDD) and anti-money laundering measures.
He holds:
- A Master of Business Administration (MBA) in Finance from KNUST.
- A Bachelor of Business Administration (BBA) in Accounting from Christian Service University College, Kumasi.
- A Higher National Diploma (HND) in Accountancy from Takoradi Polytechnic (Takoradi Technical University).
Management team
Other management officers include:
- David Gaisie: Internal Auditor, Risk and Compliance Officer.
- Benjamin Baah: Systems Administrator.
- Frederick Agyemang-Duah: Operations Manager.
Board of Directors
Louis Kwachie, Board Chairman
The bank is led by a competent Board of Directors chaired by Louis Kwachie, a professional Civil/Highway Engineer with more than 35 years of experience in designing, supervising and constructing roads, bridges, highways and other infrastructure.
He holds:
- A Master of Science in Highways for Developing Countries from the University of Birmingham, UK.
- A Bachelor of Science in Civil Engineering from KNUST.
Other board members include:
- Alexander Kyere
- Lawrence Anane Yeboah
- Dr. Anthony Ayakwa
- Dora Nana Adjoa Awindor
