The former Rector of Ghana Institute of Management and Professional Administration (GIMPA) Professor Stephen Adei has advised Ghanaians to make investments in Rural Banks since rural banking is one of the safest and profitable sectors in the financial industry in the country.
Speaking at the inauguration ceremony of the Koforidua branch of Dumpong Rural Bank, a member of the prestigious club 100, in the Eastern region, Prof. Adei said he has invested GHC250,000 in five Rural Banks in the country due to its good returns.
Speaking to Starr News, the former Rector explained that on the average, rural banks give between 20-25% returns annually which makes it a profitable venture for financial investment.
Prof. Adei, however, called on government to reduce taxation on rural banks to enable it live up to expectation. He also wants the regulatory bodies to allow mergers in other regions to extend its services to customers outside the operating region.
The Chief Executive Officer of Dumpong Rural Bank, Rev. J.A Ahadzi expressed optimism that its juicy financial packages for small scale enterprises and business entities would help boost the local economy in the regional capital.
Dumpong Rural Bank Limited has its head office at Asakraka -Kwahu in the Eastern region. The Bank swept three awards in its maiden appearance in 2013/2014 Ghana Club 100 awards. The Bank was declared the leading Rural Bank in Ghana and 4th on the list of 100 best companies in Ghana.
Dumpong Rural Bank was awarded in Geneva-Switzerland by the Business Initiative Directive (BID) for Quality and Excellency.
The Bank was further Adjudged Rural Bank of the year 2015 by the West Africa Magazine at its Heroes of Awards held in Akosombo.
The European Business Assembly in Germany, this year awarded Dumpong Rural Bank as the Best Regional Enterprise.
By: Kojo Ansah
