President Kufuor has commissioned The ARB Apex Bank Head Office and Accra Branch building
Commissioning of ARB APEX Bank Limited, Head Office Building, 16th November 2006.
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ARB Apex Bank, Accra : Front view of ARB Apex Bank Head Office and Accra Branch(JPG, 20.3 kb, 415 x 223 pixels)
The ARB Apex Bank Head Office and Accra Branch building was commissioned by His Excellency, President John Agyekum Kufuor, President of the Republic of Ghana on 16th November, 2006. The provision of the Head Office and Accra Branch completes the Establishment of the ARB Apex Bank component of the Rural Financial Services Project (RFSP).
The Financial Sector Capacity Building project of which the ARB Apex Bank Establishment is a component was financed with a total of US$22.96 million. The other three components are; Capacity Building of the informal/Semiformal Financial Sector Institutions, Capacity building of Rural/Community Banks and Institutional support to Bank of Ghana and Ministry of Finance and Economic Planning. The RFSP was financed with resources from IFAD - US$10.18 million, IDA - US$5.07 million, AfDB - US$5.01 million, Government of Ghana US$0.75 million and Beneficiaries US$1.95 million.
The ARB Apex Bank has been established to function as a ’mini-central bank’ for rural and Community Banks (RCBs) in Ghana. The bank will provide banking and non-banking services to RCBs in order that their operational efficiencies would be improved.
Rural Banking started in Ghana in 1976 through the initiative of the Bank of Ghana with Nyakrom Rural Bank in the Central Region as the first rural bank in Ghana. Over time, a number of rural banks were established, all of which came together to form the Association of Rural Banks in 1981.
The withdrawal of the Bank of Ghana’s technical banking services from the Rural and Community Banks (RCBs) in 1994 necessitated the commissioning of SGV Consultants to study the situation and make recommendations. Upon subsequent feasibility studies and recommendations by Messrs J.S. Addo Consultants, the ARB Apex Bank Limited (Apex Bank) was established and commenced operations on 2nd July, 2002. The bank provides the RCBs with technical, managerial and financial support services.
Today, RCBs constitute the largest banking network with 123 banks and over 560 banking offices throughout the country.
Some pictures of the event
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Arrival of President Kufour : His Excellency, President J.A. Kufuor being welcomed to the Commissioning Ceremony by Mr. E.K. Kwapong, Managing Director of ARB Apex Bank.(JPG, 27.5 kb, 400 x 300 pixels)
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Dignatories at the Banking Hall : President with Managing Director of Apex Bank, Governor of Bank of Ghana, Minister of Finance & Econ Planning and the Borad Chairperson of Apex Bank Limited(JPG, 13.3 kb, 400 x 300 pixels)
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Mr Mansouri : Mr. Mohamed Manssouri, IFAD Country Portfolio Manager for Ghana delivering an address at the Commissioning.(JPG, 16 kb, 400 x 299 pixels)