Story by Yaaba Yamikeh, Esiama
Stakeholders of Ankobra West Community Bank PLC have been urged to remain committed to innovation, operational excellence, sound corporate governance, and sustainable growth to ensure the continued success of the bank.
The Executive Director of the Association of Community Banks (ACB), Mr. Solomon Amankwah, made the call during the bank’s 34th Annual General Meeting (AGM) of shareholders held at Esiama.
In an address read on his behalf, Mr. Amankwah said although the future of Ankobra West Community Bank looks promising, its vision of becoming one of Ghana’s leading community banks can only be achieved through the collective commitment of stakeholders.
He noted that the bank’s strong performance in the 2025 financial year reflected the dedication of the board, management, shareholders, staff, and customers. He encouraged all stakeholders to continue working together to elevate the bank to greater heights.
AGM
According to him, the AGM provided an opportunity for stakeholders to assess the bank’s performance, review its strategic direction, and renew their commitment to sustainable growth, financial inclusion, and community development.
Mr. Amankwah commended the bank for recording growth in key performance indicators, including total assets, deposits, loans and advances, and profitability. He attributed the achievements to prudent leadership, effective governance, operational efficiency, and the confidence reposed in the bank by customers and shareholders.
He emphasized that the progress made by Ankobra West Community Bank highlights the critical role community banks play in mobilizing local resources, supporting small businesses, creating employment opportunities, and promoting economic development in their communities.
The ACB Executive Director, however, reminded community banks that strong corporate governance, effective risk management, and strict regulatory compliance remain essential as the sector continues to evolve in a dynamic financial environment.
Internal controls
He therefore urged the board and management of Ankobra West Community Bank to strengthen internal controls, improve credit risk management, and enhance cybersecurity measures. He also stressed the need for strict compliance with Anti-Money Laundering (AML) and Know Your Customer (KYC) requirements, as well as the timely implementation of recommendations from internal and external auditors.
Mr. Amankwah disclosed that the Association, in collaboration with ARB Apex Bank PLC, has introduced a nationwide Corporate Governance Certification Programme for directors of community banks. The programme aims to strengthen leadership capacity, governance practices, strategic oversight, compliance, and risk management competencies.
He encouraged directors of Ankobra West and other community banks to take advantage of the initiative, noting that strong governance remains the foundation of sustainable growth and enhanced shareholder value.
Policies
On policy matters, Mr. Amankwah said the Association continues to engage the Bank of Ghana and other stakeholders on key regulatory issues affecting the community banking sector. These discussions focus on ongoing Microfinance and Community Banking Policy Reforms, including minimum capital requirements and the transition to the Community Banking framework.
“The Association remains committed to ensuring that these reforms strengthen the sector while protecting the interests, competitiveness, and long-term sustainability of Community Banks across the country,” he stated.
Mr. Amankwah further noted that 2026 marks the Golden Jubilee of Rural and Community Banking in Ghana, celebrating 50 years of contributions to financial inclusion, rural savings mobilization, agricultural financing, support for small businesses, poverty reduction, and socio-economic development.
To mark the milestone, he said the Association’s Executive Committee has established a National Planning Committee to coordinate activities for the celebrations and called on all community banks to actively participate.
He also announced the introduction of a new official ACB corporate cloth aimed at promoting unity, visibility, and a stronger corporate identity within the community banking sector. He urged all community banks to support the initiative as part of efforts to build a more recognizable and unified brand.
