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Banking and savings has not been the same since the emergence of rural banks in the Ashanti Region.
Rural Banks like many social economic drivers has contributed significantly to the socio-economic development and well-being of the people of the Ashanti region.
Since it’s arrival in the region in the 1980s, the sector has driven community development by providing crucial financial access, offering tailored loans for agriculture and small businesses (SMEs), and supporting local infrastructure projects.
It has also been a major catalist for economic Empowerment, human resources development and social transformation and development.
Following the establishment of Atwima Rural Bank PLC, Foase in 1980, (that’s the first rural bank to be established in the region), Atwima Kwanwoma Rural Bank PLC, Amansie Rural Bank PLC and Others followed same year and many others emerged years after years.
Currently the region boasts of about twenty-nine (29) independent rural banks with some 240 branches across the various districts in the region including the head offices and continue to grow.
The introduction of banking in rural communities as the name Rural Bank conotates, has changed and continued to shape the banking and saving culture of the people.
More and more people since the sector came to the region have realized the importance of entrusting the sector with their financial gains for safe keeping and profit making.
As at December 2025, the sector has collected to the tune Gh 8.2 billion as customer deposit.
Rural Banks broad contributions to the economic prospects of the region needs to be commended.
The sector’s role in driving the economic fortunes of the region include employment and job creation, loans and credit facilities, human resources development and community development.
Employment :
The rural banking sector since it presence in the region has created and continue to create many jobs and opportunities.
According to the Administrator of Association of Rural Banks Ashanti Chapter Dr. Anthony Darboh, said the industry so far employs some six thousand(6,000) personnel in various areas of the sector.
It can also be credited for creating many indirect employment and job opportunities.
Loans and Credit Facilties :
The sector since its inception has assisted many groups and individuals with different forms of loans and other credit facilities.
As at last year, the sector has given a total of GH1.9 billion in loans and credit to its diverse clients including farmers, traders, Small and Medium Enterprises (SMEs), artisans as well as salary workers.
Taxes Obligations :
The rural banking sector aside its communal functions has also contributed significantly to the development of the region and the country through the fulfillment of its taxes obligations.
The sector according to industry leaders pays to the state between 25 and 30 percent in taxes to the state of which Ashanti contribute significantly.
Corperate Social Responsibility (CSR) :
One major important role that rural banks have played in the economic development of the people of the Ashanti region is giving back to society.
The industry since its inception in the region has played a mojor role in building the social infrastructure of the Ashanti community through the fulfillment of its corperate social responsibilities across all aspects of human endeavor.
This include but not limited to education, security, health, water and sanitation, social infrastructure among many others.
The rural banking sector has and continue to be a dependable development partner of Ghana as a nation and Ashanti as a region.
Article written by;
Atta K. Henry
( Head of Operations Oseikrom Media Network & CEO of Kumasipioneer.com ).
E-mail: kumasipioneer@gmail.com.
Contact: 0241122123
