The Apex Bank Retired Staff Association (ARSA) of Ghana has successfully been launched in Accra, Ghana with Mr Alex Kwasi Awuah, the Managing Director (MD), ARB Apex Bank, assuring the newly launched association of the Bank’s continuous support to enable them to enjoy a good retirement.

The objective of the Association is to seek the general welfare of retired staff, foster unity among them and maintain a close relationship between members. Mr Awuah, meanwhile, said he will tap into their years of expertise to achieve the goals of the Bank and ensure its growth.

Mr Awuah indicated that the association will also serve as a “human resource reservoir” and be a source of positive feedback to the Bank. He added that retired members of the Bank are an asset which could not be allowed to go waste, because their expertise remains important to the growth of the Bank.

“I always tell people that when we come to work, the hours that we spend at the work place is not full time than living with our families, and so, when we leave, the same way, we don’t just have to leave the bank and say that is the end.

“And so, by forming the Association, it gives us the opportunity to run around and then all the good things, the expertise, everything that we have, we can still connect to the Bank and then give support and that is something we cherish so much.”
Kwasi Awuah

Mr Awuah said the Association can “count on us that, in the foreseeable future, we will be with you because sooner or later, we will be part of the union.”

“We are with you as an association and we will give you all the support. The welfare issues that we need to attend to, we will also contribute our part,” Mr Awuah added.

The Recent Crisis that Hit the Banking Sector

Mr Awuah noted that the Bank has not been spared of the recent crisis that hit the banking sector, adding that, the most recent one, the Domestic Debt Exchange Programme (DDEP) by the Government, took a significant toll on the liquidity of the Bank. “The Bank was also affected quite significantly,” he said.

“We were holding bonds of about GH¢434 million and at the end of the day we had to make deferment to the tune of about GHC113 million, which has affected operations of the Bank last year 2022.”
Alex Kwasi Awuah

Mr Awuah, however, said the Bank is currently in the process of recapitalisation to strengthen its operations to achieve growth.

“Last year, there was an extraordinary meeting and our shareholders approved for us to recapitalise the bank to the tune of $5 million in five years time, which means that, every year, the banks are going to subscribe to GH¢5 million of additional shares, and so, for that matter, we have started the process of recapitalising.

“But then, also internally, through internal efficiencies, we are ensuring that within the shortest possible time, we can recover from this greater challenges.”
Alex Kwasi Awuah

Mr Eric Osei-Bonsu, the President of ARSA, on his part, said the Association is resolved to supporting the Bank to succeed in its endeavours since “its continued existence is inextricably linked with the survival and operational viability of the Bank.”

Mr Osei-Bonsu noted that the Association regards all current employees of the Apex Bank as potential members, and urged them to join the Union when they retire.

Mr Osei-Bonsu also commended the Managing Director and management of the Apex Bank for giving their unwavering support to the formation of the Association.

Mr Theophilus Obeng, Vice President of the Association, in a speech read on his behalf, also disclosed that the Association has a membership of 29 retirees. He said they hope that the launch of the Association, would therefore, prompt other retirees of the Bank to join.