ADB Opens New Branch In Takoradi

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Economics Adb Branch
Economics Adb Branch

The Agricultural Development Bank PLC (ADB) as part of its corporate strategy has opened a new branch in Takoradi, Western Region making it the 87th branch of the Bank nationwide.

It is located within the Takoradi Market Circle area in response to the growing business population and a heed to calls from customers of the Bank for a branch in the area.

A statement copied to the Ghana News Agency in Accra on Tuesday said Dr John Kofi Mensah, Managing Director of the Bank in his inaugural address said it was part of the aggressive branch expansion drive of the Bank.

“We are determined to establish our presence in several towns especially the New Regions and also Communities where agribusiness is a core business to help inculcate the habit of savings in our citizens,” he said.

Dr Kofi Mensah indicated that the expansion drive was also part of the Bank’s commitment to promote financial inclusion by establishing branches closer to them with custom-made products and services.

He said the new branch had specialized Trade and Agribusiness Desk to assist in the easy facilitation of loan support for Small and Medium Enterprises within the region and reiterated the commitment of the Bank to prioritize the agribusiness sector and to support Companies and Organizations especially under the government’s IDIF programme in the region with loans to expand and create jobs.

The Western Regional Minister, Kwabena Okyere-Darko commended the Bank for its decision to open a branch within the business centre of Takoradi and was optimistic it would serve the financial needs of the people.

He commended ADB for its commitment towards the several government’s agricultural based initiatives especially 1D1F, Planting for Food and Jobs, Rearing for Food and Jobs and the fertilizer subsidy programme.

The Essikado Omanhene, Nana Kobina Nketsia V who was the Chairman for the occasion urged the Bank to remain focused on its core mandate of agribusiness financing.

He indicated that a growth in the agricultural sector would positively contribute in solving the numerous unemployment problems in the country.

He said though the Bank since 2017 had refocused on its core mandate of agribusiness financing, they must module special loan packages for the youth for agribusiness.

“Opening a branch especially in this Market Circle Area means the Bank is making efforts to bring banking closer to the ordinary Ghanaians and this I must say is highly commendable,” he said.

The Essikado Omanhene urged the Management of the Bank to have special products and services especially for the market women for them to expand their businesses.

The establishment of the Market Circle Branch brings to four (4) the number of ADB Branches in the Western region.

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