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ECONOMICS

YAPRA Rural Bank marks 40 years, hails regulator's past intervention as "turning point"

Mr Baabotin Musah Terah, the Chairman of the board of the directors of YAPRA Rural Bank PLC at the durbar to climax the 40th anniversary celebration of the bank, identified some governance and management challenges which needed some interventions to keep the business running.. According to him, there were many times in their journey when weakness in governance and management practices required the intervention of the Bank of Ghana.

Date Created : 12/8/2025 : Story Author : Oheneba Kesse Brempong-Asare/Ghanadistricts.com

According to the Chairman, the last intervention took place in 2003 when the regulator dissolved the existing Board and installed an Interim Management Committee (IMC) led by Mr Philip Oduro-Amoyaw, a seasoned banker.

He added that, the IMC worked tirelessly to stabilize the Bank strengthening internal controls, improving operations, restoring regulatory compliance and rebuilding stakeholders’ confidence.

Mr Baabotin Musah who explored the competition and technical change of the YAPRA RURAL BANK said the rise of micro finance institutions, mobile money and digital banking put pressure on their traditional banking model.

Mr Baabotin Musah Terah concluded that, they modernized their systems, and expanded their services to some of the nearby communities like Parambo/Sawaba, Kwame Danso, Kajaji, and continued to uphold their community-focused approach, stating that it was the turning point of YAPRA Rural Bank’s history.

On the part of the CEO of the YAPRA Rural Bank PLC, Alhaji Siibawaih Yakubu said the bank intends to support Local Economic Development.

According to him, they have empowered countless households and enterprises, fueling local economy growth.

The CEO explained that the bank has demonstrated a firm commitment to its Corporate Social Responsibilities (CSR) which initiatives include support for educational institutions, scholarships, and educational materials for pupils, donations to health facilities, sponsorships of community development projects and support for farmer groups and women associations.

During the 40th anniversary of YAPRA Rural Bank, he said the bank constructed a 3-Unit classroom block with an office and washroom facilities for the Prang D/A No1 Primary School which they handed over to the Pru West District Assembly and the Education Directorate.

Alhaji Siibawaih Yakubu, highlighted that the Bank attained the Public Limited Company (PLC) status on 14th February, 2025 in accordance with Companies ACT, 2019(ACT992), which means that if the Bank should continue to own the Bank, then they must increase their number of shares with the bank.

The DCE for Pru West District, Samuel Agyapong acknowledged the good works of the bank and assured the D/A No1 School that with the help of the H E John Dramani Mahama and the MP for the area, Emmanuel Kofi Ntekunu, they will provide marker boards and dual desks for teaching and learning to be successful.

According to the DCE, a major problem for Ghanaian is poor maintenance culture and urged the PTA, headmaster and teaching staff of Prang D/A No1 Primary School to maintain the facility to preserve the good works of the YAPRA Rural Bank PLC.

ECONOMICS

YAPRA Rural Bank marks 40 years, hails regulator's past intervention as "turning point"

Date Created : 12/8/2025 : Story Author : Oheneba Kesse Brempong-Asare/Ghanadistricts.com

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