Benjamin Afful-Eshun, Chief Executive Officer of Ahantaman Rural Bank, has said almost all rural banks have crossed the Bank of Ghana’s (BoG) stated minimum capital.

“I can assure depositors that their monies are safe; at Ahantaman Rural Bank Limited, as at August this year, we have a stated capital of about GH¢5,590,860 – which is far above the (BoG) minimum capital,” he added.

The CEO was speaking in an interview with the B&FT to allay fears of depositors that rural banks are the next target of the BoG in the clean-up exercise ongoing in the banking sector. “The Bank of Ghana only sought to remind a few rural banks that have not met the required amount,” Mr. Afful-Eshun assured clients.

He urged individuals to have confidence in the rural banking system and continue to deposit so they can fall on it when in dire, need as well as be supported to expand their businesses.

He said this when the bank presented a cheque for GH¢102,000 to 102 brilliant but needy students in the bank’s operational area as part of its corporate social responsibility.

The beneficiaries, he said, are to pursue courses in the various tertiary institutions across the country – explaining that the company has been awarding scholarships to students in the area for about two decades.

For instance, he said, in 2016 the company presented scholarships to 95 students; 38 Senior High School (SHS) and 57 tertiary students. In 2017, 102 students also benefitted from the scholarship amounting to GH¢91,200; and then in 2018, scholarships for 116 students made up of 17 SHS students and 99 tertiary students amounted to GH¢109,200.

“The female beneficiaries for this year’s scholarships are pursuing science and engineering courses. We put premium on education and will continue to support students in all forms of education. Ahantaman Rural bank has since 2017 sponsored the District Basic Education Certificates Examination (BECE) mocks for Ahanta West Municipal Assembly with GH¢48,000.

Ms. Sarah Panford, who has been a beneficiary of the scholarship scheme from SHS level to the tertiary level, on behalf of the students expressed gratitude to the bank and promised to make the best grades.