Upper West has four rural Banks namely Sissala Rural Bank, Lawra Rural Bank, Nandom Rural Bank and Sunzelli Rural Bank.
Sissala Rural Bank is a bank established by the Sissalas to support the community in financial mobilization and to support initiatives of people who join the bank through issuing of loans and economic advice. It has branches in TUMU, Funsi and Gwollu.
Nandom Rural Bank was also created by People of Nandom with Branches in Wa Municipality, Nandom District and Fielmuo to issue financial and monetary policy support to its customers.
Sunzelli Rural Bank was established by People of Jirapa to aid in monetary support to customers and shareholders and also to develop them economically. It has Branches in Wa And Jirapa Municipality.
Lawra Rural Bank was Established by People of Lawra to give economic support to customers and most especially people of Lawra who have shares in the bank. It is to build stakeholders in it economically.
People within upper west have questioned why Wa municipality which is the regional capital and with business men have not taken any initiative to introduce ‘Wa Rural Bank’ they believe the initiative would help build people of wa Economically and be able to develop youth who are willing to go into investment and planning.
The rural bank they believe would
Help the youth within wa economically to be able to take business initiatives and limit unnecessary spending. Wa Rural Bank Can Include Wa West, Wa East and Wa Central to prevent strange banks from taking advantage of us.
Bank of Ghana’s Minimum Capital Requirements
Bank of Ghana’s minimum capital requirement for every Rural Bank is GHS1 million.
Some customers of our rural banks have expressed distaste with committing to rural banks because they have a problem accessing their funds when they travel down South.
By: Tuorimuo Elvis Philip and Upperwestmedia.net/2018