Brief History of Ga Rural Bank

The idea of establishing a RURAL BANK at Amasaman was mooted by Messrs Archibald Amponsa Tannor and Mr. Robert Larmiayi Golightly both officials of the then Examinations Department, now Banking Supervision Department, of the Bank of Ghana in the early 1980s. As a result of this discussion, Mr. Golightly contacted Nii Amasa Oseiku II, the Chief of Amasaman for the possibility of setting up a local bank in the district.

Nii Amasa Oseiku was very enthusiastic about the proposal of setting up a Bank. After series of meetings at his Palace, Mr. David Hammond (now deceased) an Executive Director of the defunct Mankoadze Fisheries and a prominent personality in traditional affairs was introduced to join the meeting. Mr. David Hammond also introduced Mr. Edwin Victor Ardey Acquah, a seasoned Banker, then with some thirty-three years of banking experience as the first Manager of the Ga Rural Bank.

Miss Emelia Korkoi Aryee (also of blessed memory), a lawyer by profession was also brought in by Mr. Hammond as a Legal Adviser to the Board.

The first inaugural meeting was held at Nii Amasa’s Palace where an IMC was formed with Nii Amasa Oseiku II as Chairman to prepare for the establishment of the Bank.

In the early part of 1984, Nii Amasa Oseiku II approached Mr. F.A. Laryea who was a Government Appointeee on the Tema District Council, to discuss this noble proposal.

Ensuing the above discussions, a committee was formed to plan for the establishment of a Bank, comprising the following members:

  • Nii Amasa Oseiku II Chairman
  • Mr. J.Q. Botchway Treasurer and Organizer
  • Mr. F.A. Laryea Member
  • Mr. J.O. Lamptey Member
  • Mr. Golightly Member
  • Mr. Emmanuel Nee Addy Secretary
  • Mr. Archibald A. Tannor Member
  • Mr. David A. Hammond Member (Deceased)
  • Mr. W.K. Addy Member (Deceased)
  • Ms Justice Emelia Korkoi Aryee Legal Adviser(Deceased)
  • Mr. E. Zoglie Member (Deceased)
  • AIMS AND OBJECTIVES OF THE COMMITTEE;

    The aims and objectives were to:

  • Help the farmers in the catchment area to cultivate the habit of saving and to obtain soft term loans to improve upon their farming activities.
  • The improvement and development of the district.
  • To create employment opportunities.
  • The Committee made an appeal to the Tema Development Corporation, which was in charge of Amasaman area, and was provided with an abandoned building previously used as a clinic.

    The building was rehabilitated to suit banking operations through the support of the Committee members and other local residents. The Committee, out of their own resources brought about the functioning the Bank.

    FINANCING
    The Committee targeted an amount of GH¢………………..which was obtained by voluntary contributions for the operation of the Bank. All being set, with the consent of the Bank of Ghana, the Bank was inaugurated on December 18, 1984 and commenced business on 21st December, 1984 with the following appointed as Board members.

  • Mr. David Hammond Executive Director
  • Mr. F.A. Laryea Vice Chairman
  • Mr. J.Q. Botchway Member
  • Mr. R.L. Golightly Bank of Ghana Representative (Member)
  • Mrs. Justice Emelia K. Aryee Legal adviser – Member (Deceased)
  • Mr. W.K. Addy Member
  • Through the toils, sacrifices, dedication and patriotism of the above-mentioned pioneers, the Bank progressed gradually. Today, the Bank can boast of this fine edifice which we see or occupy with a capital base of GH¢……………………………and assets well over GH¢…………………………………….

    Unfortunately, the following pioneers were not alive to see the fruit of their labour:

  • Mr. David A. Hammond
  • Mr. Kofi Zoglie
  • Mr. W.K. Addy
  • Mr. J.Q. Botchway
  • Mrs. Justice Emelia Korkoi Aryee
  • May we please observe a minute’s silence for the souls of our departed brothers and sister.

    May their souls rest in perfect peace. Amen


    Corporate Information

    The Ga Rural Bank is a unit bank owned and managed by people of its catchment area who are shareholders. It was commissioned as the 92nd Rural Bank in the country in December 1984. The Bank is located at Amasaman, the Ga West Municipal Capital (about 22km from Accra on the Accra-Nsawam road). At present GRB has four (4) branches namely, Mallam, Taifa, Achimota and Kokrobite.

    The Bank serves about 240 villages with a total population of over 200,000 people. The main economic activities of the area are peasant farming, fishing, trading and cottage industries.

    In 2008/2009, a new Organogram was produced by Management and approved by a joint committee of human resource and finance. The new Organogram which was to fine-tune for Board's approval was aligned with the present salary scales of the Bank; the appropriate nomenclature at all levels was adopted and gradings were matched against the positions/titles. The Organogram is being implemented in stages and the result is showing improvement in its operational performance.

    A five (5) year projections are being made in the plan with the view to improving the Bank infra and superstructure. This will include the expansion of its premises fitted with modern architectural designs, furniture and fittings and the establishment of new branches. The implementation of this plan is expected to increase deposits mobilization, expand credit and investment portfolios and thereby improve earnings


    Mission

    To mobilize idle funds and channel such funds through the provision of Loans and Overdrafts to finance the economic activities of Rural Dwellers within our catchment area thereby improving standard of living in the Rural area.

    Also: to deliver innovative banking solutions to meet the needs and aspirations thus empowering economically Rural Dwellers within our catchment area.

    Vision Working with the Local Rural Community to become a First Class Rural Bank in Ghana.


    Values

    The Bank believes in the following philosophies:

  • Quality and prompt service to small scale farmers, rural entrepreneurs and salaried workers.
  • Promoting economic and infrastructural development of its area of operation.
  • Development of the professional skills and attitudes of its staff through training, seminars and exposures to modern trends of banking.

  • Objectives

    The objectives of the Bank are to:

  • Constantly increase the deposit base of the Bank
  • Promote and support agriculture, cottage industry, rural enterprise and commerce through providing credits to its clients
  • Maximize profits and build enough reserves so as to:
  • i. Make the Bank capital adequate
  • ii. Be able to pay reasonable dividends to its shareholders
  • iii.Give attractive remuneration to its staff
  • iv. Improve the living standards of the people
  • v. Loans schemes and the provision of social amenities for the people.
  • Provide excellent customer services
  • Ensure compliance with the Banking Law and Bank of Ghana directives.
  • Meet Our Board and Management Team

    A team of seven (7) Directors forms the Board. The Board is mandated to run the affairs of the Bank by formulating policies and programmes for its Management.