SAVE KWAMANMAN RURAL BANK-PARAMOUNT CHIEF

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The Paramount Chief of Kwaman in the Sekyere Central district of Ashanti, Nana Abayie Ntori Nimpa, has made an urgent call on financial investors, especially citizens of Kwaman, to patronize shares being offered for sale by the Kwamanman Rural Bank so as to sustain the bank in business. 

Making the appeal at a community durbar at Kwaman, Nana Abayie Ntori Nimpa noted that the bank, owned by the Community, could lose ownership of the bank if it is not able to raise its minimum stated share capital to the new requirement of the Bank of Ghana. 

According to him, the Central Bank has served notice to cause a merger of any Rural or Community bank that is unable to raise its existing share capital to more than one million Ghana Cedis by the end of this year with financially well established ones as part of the Bank of Ghana’s stringent measures to protect the interest of shareholders. 

Nana Abayie Ntori Nimpa disclosed that Kwamanman Rural Bank, with its headquarters at Kwaman, currently has a stated share capital of a little over 500 thousand Ghana Cedis which is only half the amount being requested saying that the community is not ready to cede its interest in the bank to any of its competitors. 

He therefore urged particularly the citizens living abroad to increase their shareholdings in the bank to keep it in operation.

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