By Enock Akonnor enockakonnor2013@gmail.com
+233 541921562
Chairman of the Board of Directors of ARB Apex Bank PLC. Dr. Anthony Kwesi Aubynn has announced that the bank successfully secured a five-year on-lending facility agreement of USD4.00 million with the Ministry of Finance and Social Investment Fund (SIF) in the year 2023.
This was under the Post Covid-19 Development and productivity Enhancement Project (PSDPEP) for disbursement through Rural Community Banks (RCBs) and other institutions.
Speaking at the ARB Apex Bank PLC 22nd Annual General Meeting in Kumasi, he said the first tranche of USD1.00 million (equivalent of GHs 11.85million) has been received.
He therefore admonished RCBs that are yet to join the project to do so in good time to be able to reap the associated benefits when the remaining amount of USD 3 million is released in disbursement.
He also announced a successful completion of the Bank’s USSD, Mobile, Agency and Internet Banking project.
On the forgoing, he encouraged RCBs to fully participate in the above project to stay competitive in the current technologically driven and digital banking environment.
Dr. Anthony Kwesi Aubynn noted during the year under review (2023) continued to provide support to 15 RCBs to procure and retrofit their bullet proof Bullion Vans in compliance with regulatory requirements.
Managing Director for ARB Apex Bank PLC, Alex Kwasi Awuah also brought to light at the meeting that US$ 8.00 million facility assigned to the Bank for Digital Transformation under the Ghana Financial Sector Development Project (GFSDP) has also been utilized successfully.
This according to him will enhance the deployment of the digital banking platforms of the Bank and also deepen financial inclusion in the country.
He indicated that technical deployment of all solutions is almost complete.
Alex Awuah said the foregoing has created a shared interoperable digital banking platforms through a network of agents for the customers of Rural and Community Banks (RCBs).
He mentioned that ARB Apex Bank has settled on rolling out a network of 5,000 agent touch points equipped with Smart biometric POS terminals by the end of the year 2024.
“As of the end of June 2024, the number of Agents points deployed was 1,400”, he stated.
The Managing Director further announced that, officials have operationalized the Bank’s complimentary deposit mobilization application for Susu collections by RCB mobile bankers.
The above intervention is expected to significantly reduce cash suppression related to Susu mobilization at the Bank branches.
