Microfin Rural Bank advocates financial literacy among Ghanaians

The Executive Director of Microfin Rural Bank, Ishmael Kwesi Otchere, says most of the investments scams in the country can be avoided if Ghanaians take keen interest in financial literacy.  
	
He said people should not get carried away with the juicy returns promised by investment companies, but find out the security of their investments.  

Mr. Otchere stated that doing a thorough check on the credibility of financial institutions will prevent losing their life time savings in dubious companies.  

Mr. Otchere was speaking to GBC’s Radio Ghana at Gomoa Pomadze during the bank's 3rd Annual General Meeting.

He asked Board of Directors of institutions not to focus on the financial rewards from companies.  He said the situation becomes critical when such companies are under financial stress.  

Mr. Otchere encouraged members of Boards to work with passion to grow the institutions to become profitable and viable.

The Board Chairman of Microfin Rural Bank, Dr. Victor Antwi highlighted some successes chalked up by the company.

Dr. Antwi said the Bank was able to stay afloat, consolidating its position by delivering on its value through the development of innovative products and the provision of excellent service to clients.

He added that, the bank made significant gains in all its key financial operations within 3 years of operations in Ghana with modest profits of GHC 142,723 as against a loss of GHC 170,916 in 2014. 

Microfin Rural Bank was ranked 51st among the 143 RCBs in Ghana by the ARB Apex Banking Ranking in finacial performances.

GBC