The board and management of Energy Bank has donated an amount of GH Â¢50,000 to the Otumfuo Education Fund, in support of the promotion of education in Ghana.
Oheneba Adusei Poku, Akyempinhene of Kumasi, disclosed this during the official opening of the Kumasi branch of the Energy Bank Ghana Limited. The Akyempimhene congratulated the Board and management of the bank for spreading to Kumasi, and hoped it worked to eliminate unemployment, and also serve as job creation in the metropolis.
He urged the bank to open branches at the Central market and the Suame Magazine parts of the Metropolis, to provide the needed capital for the business entities, while ensuring a vibrant economy.
The Mayor of Kumasi noted that to establish a subsidiary of the Energy Bank in Kumasi was a step in the right direction, as Kumasi, with its central location, offers a unique location for business and banking, explained in the fact that hundreds of people from all parts of the country throng to Kumasi on a daily basis to transact business.
According to him, the Government of Ghana was committed to promoting the private sector as the engine of growth, as enshrined in the 2012 budget statement and economic policy, and said this cannot be achieved and sustained without the effective functioning of financial intermediaries such as banks and other financial institutions.
He said the influx of various banks and financial institutions into the country, particularly, in Kumasi, provides a major boost to be the objective of using banking as a tool for economic growth, poverty reduction and sub-region integration.
He further indicated that Ghana's economy had witnessed enormous improvement over the last couple of years, with GDP growing to 13.6%, and inflation reduced to single digit of 8.56% as at October, 2011.
He revealed that in spite of the increase in banking services in the region, a large segment of the population still remained unbanked, a situation he said, called for the adoption of proactive initiatives by banks in the region to encourage the people to use the banks as a guarantee for the safety of their money, and also help the nation mop up excess liquidity to support development.