Managing Director of ARB Apex Bank, Alex Kwasi Awuah
The Association of Rural Banks (ARB) has called on the government to reduce corporate tax for Rural and Community Banks (RCBs) from 30% to 15-18% to foster rural economic growth.
ARB President Eric Danin argued that the reduction would enhance RCBs’ capacity to support underserved communities. He also urged the government to release locked-up funds from the financial sector clean-up and Domestic Debt Exchange Programme, as many RCBs face liquidity challenges.
Danin raised concerns about the retroactive application of the Bank of Ghana’s corporate governance directive limiting CEOs’ tenure to 12 years, citing constitutional violations.
ARB Apex Bank Managing Director Alex Kwasi Awuah highlighted RCBs’ significant contributions, managing GH₵13.75 billion in assets and over 5 million customers. Apex Bank has bolstered RCB operations with initiatives like providing 15 armored bullion vans.
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