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A former Deputy Governor of the Bank of Ghana (BOG), Emmanuel Asiedu Mante, has urged Rural and Community Banks (RCDs) to take advantage of the securities market to raise capital for their operations. He said given their sterling performance and the enormous opportunities that existed, they needed to go beyond the idea of community ownership and list on the stock market to attract both local and foreign investment to expand their activities.
Rural and community banks in the Ashanti region have an opportunity to attract foreign investments into their operations. Dutch-based Goodwell Investments, in partnership with JCS Investments Limited has introduced a $50million Goodwell West Africa Microfinance Fund. The wholesale microfinance equity fund has a one-third allocation to Ghana.
Data Bank is making a strong case for rural banks to conform to emerging trends by listing on the Ghana Stock Exchange to broaden their capital base and enhance their growth and expansion.