The Bono East Regional Minister, Francis Owusu-Antwi, has called on customers and shareholders of banks, particularly rural and community banks, to honor their loan repayment obligations to safeguard the financial sector.
Speaking at the 20th Annual General Meeting of the Amantin and Kasei Community Bank, Mr. Owusu-Antwi emphasized that responsible borrowing and repayment are crucial for the sustainability of banking institutions.
“Customers must use loans for the purposes for which they were requested and avoid borrowing more than they can repay,” he advised. He also cautioned bank officials against weak assessments and poor monitoring, urging them to ensure that loans granted are recoverable.
The Minister warned that widespread defaults could undermine rural banks and lead to collapse, noting that both borrowers and lenders share the responsibility of protecting the sector.
Amantin and Kasei Community Bank CEO, Michael Wilberforce Osae, highlighted progress in rural banking under the oversight of the Bank of Ghana and ARB Apex Bank.
He assured customers that despite challenges with loan defaults, the bank remains committed to supporting communities.
“We appeal to our customers to do their part and repay their loans on time,” Mr. Osae said, while also calling on the government to reduce corporate taxes on rural banks. Shareholders at the AGM expressed satisfaction with the bank’s performance and commended its role in providing accessible financial services.
Source: Jagri Boaz Binyinjom
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