After the minimum capital requirement has been adjusted recently, most Banks including rural banks failed to meet the minimum capital required by the Bank of Ghana.
Two banks including UT and Capital merged due to the inability to meet the minimum requirement.
In upper west, Four rural Banks have been audited to be certain they meet the requirements, Nandom and Sungzelle rural banks met the requirements of 1million Ghana cedis from previous 150 thousand cedis minimum requirement specified by the bank of Ghana.
Sissala and Lawra Rural Banks have been given up till 31st of December to meet the requirements or Merge in 2018.
Lawra rural Bank has its headquarters in the Lawra District of Upper West whilst Sissala Rural Bank has its headquarters in TUMU with other branches in Gwollu and Funsi Respectively.
Credit – Upperwestmedia.net