Rural banking continues to play a central role in Ghana’s fight against poverty by supporting farmers, traders, and small-scale entrepreneurs, Mr. Daniel Dagba, Municipal Chief Executive (MCE) for Akatsi South, has said.
Speaking at the 42nd Annual General Meeting of Avenor Rural Bank Plc in Akatsi, Mr. Dagba stressed that access to finance is one of the most effective tools for transforming livelihoods and building resilient communities.
“Access to finance gives people opportunities. Loans help farmers buy tools to boost productivity, young entrepreneurs can innovate with start-up capital, and market women gain a safe place to save their earnings,” he explained.
He noted that rural banks, particularly in underserved areas, bridge the financial inclusion gap by bringing essential services closer to people who would otherwise have no access to formal banking systems.
According to him, this access directly translates into higher productivity, business growth, and improved household welfare.
The MCE, however, cautioned that to remain effective in poverty reduction, rural banks must adapt to changing times.
He urged them to embrace digital banking innovations, improve risk management systems, and expand services to reach more underserved groups, particularly women and the youth.
He underscored the need for stronger partnerships between rural banks and local governments to drive economic transformation.
“The Assembly sees the Bank as a partner. Together, we can improve market infrastructure, support agribusiness, create jobs for youth, and ensure fair access to financial services,” he said.
Mr. Dagba also encouraged rural banks to pay special attention to smallholder farmers, women-led businesses, and young innovators, as empowering these groups will not only boost business growth but also accelerate poverty reduction in rural Ghana.
He further reminded financial institutions that true growth is not measured only by profits but also by their ability to transform lives, build sustainable businesses, and empower communities.
Importantly, rural banking represents more than financial transactions; it is a pathway to sustainable development, financial independence, and economic justice for the poor.
