The Agricultural Development Bank PLC (ADB), as part of its corporate strategy, has opened a new branch in Takoradi, Western Region.
The latest branch adds to the pool of existing branches, taking the total to 87 branches of the Bank across the country. The new branch is located within the Takoradi Market Circle area in response to the growing business population and a heed to calls from customers of the Bank for a branch in the area.
At the opening ceremony of the new branch, Dr. John Kofi Mensah, the Managing Director of the Bank, stated that the opening of the new branch forms part of the aggressive branch expansion drive of the Bank. The Managing Director said “We are determined to establish our presence in several towns, especially the New Regions and also Communities where agribusiness is a core business to help inculcate the habit of savings in our citizens.”
Dr. Kofi Mensah indicated that the expansion drive is also part of the Bank’s commitment to promote financial inclusion by establishing branches closer to the core business centers with custom-made products and services.
The Managing Director disclosed that the new branch has a specialised Trade and Agribusiness Desk to assist with easy facilitation of loan support for Small and Medium Enterprises within the region. He therefore, iterated the commitment of the Agriculture Development Bank to prioritise the agribusiness sector and to support Companies and Organisations, especially those under the government’s flagship One District One Factory (1D1F) programme in the region with loans to expand and create jobs. The loans, he noted, would be granted at a business friendly rates in order not to overburden them.
Minister Commends ADB Bank PLC
Kwabena Okyere-Darko, the Western Regional Minister, commended the ADB Bank PLC for its decision to open a new branch within the business centre of Takoradi. The minister moreover, hailed the decision of the bank and expressed optimism saying “it would serve the financial needs of the people.”
Again, Mr Kwabena Okyere-Darko lauded ADB Bank PLC and said he “appreciates the bank’s commitment towards several government’s agricultural based initiatives, especially 1D1F, Planting for Food and Jobs, Rearing for Food and Jobs and also the fertilizer subsidy programme.”
On his part, the Essikado Omanhene, Nana Kobina Nketiah V, urged the Bank to remain focused on its core mandate of agribusiness financing.
The Essikado Omanhene postulated that a growth in the agricultural sector would positively contribute in solving the numerous unemployment problems in his area and in the country as a whole.
Nana Kobina Nketiah V averred that though the Bank since 2017 has refocused on its core mandate of agribusiness financing, they must module special loan packages for the youth for agribusiness.
“Opening a branch, especially in this Market Circle Area means the Bank is making efforts to bring banking closer to the ordinary Ghanaians and this, I must say is highly commendable.”
Nana Kobina Nketiah V
The Essikado Omanhene further urged the Management of the Bank to have special products and services, especially for the market women for them to expand their businesses.
In the intervening time, the establishment of the Market Circle Branch brings to four (4) the number of ADB Bank Branches in the Western region.
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